Ascension Parish was HOT in February! Look at the uptick in the median sales price, up 14%! I believe that is because we are still in a buyer's market and with not a lot of inventory, sellers were able to push those prices up. The volume was up and that coincides with the low inventory. BUT... see those days on market? They are inching up. Makes me wonder what is in store for March reporting. With interest rates climbing a little I wonder if we will see a little leveling in the market.
East Baton Rouge Parish
East Baton Rouge Parish had a slight uptick in median sales price in February. To offset that maintenance, there was quite an increase in volume, 20% The days on market in EBR remained steady. I believe there is a leveling happening in the market there for sure. Seller's are still controlling but are losing some of that control.
As we prepare to enter the Spring market, things are picking up, and even though we are feeling a slight shift from a buyer's market to a more balanced market, it is essential for buyers and sellers to be at the very top of their game because the competition is still fierce.