Welcome to our new Market Report format. We certainly hope you like it and find it a bit easier to decipher. Sometimes us number geeks get way out into the weeds. Sorry about that!
Ascension Parish Market Stats
In Ascension Parish in March of 2019 the average sales price was $265,680 that was up 8% from March of 2018. This is really good news for sellers! Return on Investment baby!
What was particularly interesting to us was that in March of 2019, only 198 homes were listed vs. 247 in March of 2018, yet both years 73.2% of those homes sold. That would indicate a dip into the inventory and is solidified by the fact that the days on the market in the sales in March of 2019 was 92 days vs. 62 in March of 2018.
East Baton Rouge Parish Market Stats
In East Baton Rouge Parish in March of 2019, the average sales price was $249,862 which was a 6% increase from March of 2019. Like Ascension Parish, this is good news for sellers!
It seems that East Baton Rouge may be increasing their inventory a bit since only 63.7% of the 639 homes that were listed sold vs. the 67.2% in March of last year. East Baton Rouge also had a small uptick in their days on the market from 72 to 85. Not near as big as Ascension Parish but something to keep an eye on for sure.
Both of these markets look really healthy and we believe it will be a great Spring Real Estate Season for Sellers as well as Buyers. Remember, these are broad general numbers for each Parish. The numbers will change in each Parish from subdivision to subdivision. If you have an interest in how your specific area is trending, just let us know. One of our associates will be happy to run the numbers for you!