Inventory is rising in both Ascension and East Baton Rouge Parishes.
ASCENSION PARISH Median Sales Price in Ascension was $246,000. That is up significantly from November 2017 when ti was $215,950. In October, the homes that sold were on the market for 53 days vs. the 65 days in November. Sellers were still able to walk away with 98.2% of their asking price. The big indicator of a slow down is that we have 4.5 months of inventory compared to only 3.3 months in November of last year.
This leaves us with 621 homes on the market in Ascension Parish with a median list price of $275,000.
BATON ROUGE In East Baton Rouge Parish the November median sales was $199,900, compared to $190,000 last year. The days on market held steady at 59. Sellers East Baton Rouge Parish are receiving 97.1% of their asking price which is up a tick from October. Maybe some price adjustments have sparked this little increase.
EBR saw an extreme slow down with only 375 homes closing versus 450 last year. Here comes the growing inventory of 4.8 months supply.
There are currently 1,746 homes on the market in these areas of East Baton Rouge Parish and they hold an average sales price of $254,700.
We expect to see things continue to slow down through the holidays and are eager to see how December comps compare to last year. Let us know if you have any questions about anything we have reported here.