Numbers being compiled for Thursday’s Trends in Greater Baton Rouge Real Estate indicate that the commercial real estate market is starting to show more activity, while demand for $400,000 and up homes and condominiums is significantly down. “The data is about what we expected,” says Ben Graham of NAI/Latter & Blum, chairman of this year’s event. “Overall, the market is not great, which is what people expect, but it is slowly getting better.” Graham says there has been an increase in the number of people calling about commercial real estate. While that hasn’t translated yet into an increase in the number of deals closed, he says some properties that have been on the market for two or three years are getting closer to changing hands. The market for single-family residences remains stagnant, especially for upscale properties. “Financing is the issue,” he says. Because of this, starter homes remain the best way to go.
The Trends seminar will be held from 8 a.m. to noon Thursday at BREC’s Independence Park Theater. The event provides Realtors with the latest data from local experts about what is going on in the main segments of the real estate market: residential, retail, multi-family, office, industrial and finance. Graham says the format for the event will be the same as it has been for the past few years, although the spot for a keynote speaker has been eliminated. “People want to hear the information and get out as quickly as possible,” he says. For more information, go to batonrougetrends.com. For the rest of Real Estate Weekly click here. —Timothy Boone
