Capital Region home sales continued their fast pace last month, with 40% more sales recorded in November than the previous year.
More than 1,160 deals closed last month, according to the latest data from the Greater Baton Rouge Association of Realtors, marking the sixth consecutive month with sales surpassing what they were in 2019.
New listings continued to decrease in November, while pending sales increased nearly 13%. Median sale prices continue to rise, suggesting an increasingly competitive market for buyers. The median sale price last month was $232,900, a more than 16% increase from last year’s $199,900.
Months supply of inventory is also continuing to plummet, dropping 45.8% to 2.6 months, indicating that demand increased relative to supply.
