In February we wondered what March would bring. We guessed it...there was a little leveling in the market. February was HOT y'all! In March we saw a steep decline in sales volume. We believe this is short-lived and may have been caused by a shock to buyers over rising interest rates. They may have held off thinking the rates would go back down. Unfortunately, that is not what we have seen. Rates are still climbing. Median price went down a little as well.
Don't freak out yet. We think this was just a blip recorrecting the big jump in February. Spring selling season has sprung and we are super busy!
East Baton Rouge Parish
East Baton Rouge Parish saw another increase in sales units again in March while their median sales price dropped a minimal 3%. The days on market were lower as well. Looks like Spring Selling Season may have hit East Baton Rouge Parish a little early!
We are super interested in seeing what happens in April. That will give us a good barometer for the rest of the spring into summer. We still feel like there will be a slight shift into a more balanced market from a strong seller's market. What are your thoughts?
Interested in the neighborhoods that saw the most activity in March 2018?