Homebuyers in the Baton Rouge area continue to see relief from the strong seller’s market as inventory and the number of days houses stay on the market increased in March for the third straight month, according to the latest report from the Greater Baton Rouge Association of Realtors.
Inventory climbed 23.1% relative to March 2023 and the number of days houses stay on the market increased 16.9%. New listings and pending sales decreased 13% and 21.7 percent, respectively.
The association reports statistics from the region’s three main housing markets—Ascension, East Baton Rouge and Livingston parishes. Across the three parishes:
- New listings decreased 13% to 1,161.
- Pending sales decreased 21.7% to 878.
- Closed sales decreased 5.5% to 899.
- The percentage of list price received decreased 0.2%, to 97.8%.
- Days on market until sale increased 11.8% to 76.
- Inventory of homes for sale increased 11.7% to 2,622.
- Months’ supply of inventory increased 40% to 4.2
The median sales price for homes in the three parishes increased 1.9% to $250,000 in March compared to a year ago. The median sales price was $257,000 in February and $258,000 in January.
In comparing the three parishes, the median sales price for homes was most expensive in Ascension at $295,000 in March. Livingston Parish was the least expensive at $252,618.
