In researching the continuing concern the public has with the effect hurricane Katrina had on our real estate market I found some interesting numbers. We currently have a 4.26 month supply of homes on the market for Ascension Parish, E Baton Rouge Parish, and Livingston Parish. That is almost the same as March of 2005 as well as July 2005.
I also checked the average sales price, which is $168, 153 for the month of February 2006. That compares with $168,864 for August 2005, prior to Katrina. Now, it is difficult to just look at a one month average, and if you compare that to last January, we are $15,000 ahead. If we do a 6 month snapshot, then the average sales price is $176, 403 with an average days on market of 70. So it appears that our market is holding on to the gains it experienced after hurricane Katrina sales settled down.
Interest rates are still hovering around 6% and with the bond money no longer being tied to first time home buyers, this will be another great year for buying and selling in the Greater Baton Rouge market!
Interesting thoughts on your local real estate market. keep up the good work.
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