Monday, February 13, 2006

Greater Baton Rouge Real Estate Update January 06

As expected, the Greater Baton Rouge real estate market remains strong. Plenty of homes for sale, good new construction starts, and interest rates remaining low continue to fuel this market.

Here is a comparison of homes for sale in January and how many of those were new construction:

E Baton Rouge Parish 1727 on Market of which 397 were new construction
Ascension Parish 520 on Market of which 177 were new construction
Livingston Parish 434 on Market of which 90 were new construction

Comparing January 2005 to January 2006:
Number of homes put on market in January 2006: 1047 January 2005: 1149
Number of homes closed in January 2006: 716 January 2005: 491

Breakdown of sold properties in January 2006 by area:
E Baton Rouge Parish: 413
Ascension Parish: 149
Livingston Parish: 147
Additional sales were balance of MLS area

Average sales price in EBR, Ascension, and Livingston Parishes combined:
January 2005: $152,718
January 2006: $176,948

Number of homes currently on the market: 2696 in these 3 Parishes

It's time to buy a house!