Wednesday, April 05, 2006

Updated Market Statistics

It is so interesting to keep up with the market changes in the Greater Baton Rouge Area. We are still feeling the effects of Hurricane Katrina but in a good way! Our market has shown some fluctuation over the past 4 months but it is easy to spot the trend that is happening. I want to share some numbers with you.

Number of Closed Properties Average Sold Price Average Days on Market %SP/LP

Dec: 808 $162,312 71 98.08%

Jan: 734 $175,366 78 97.69%

Feb: 726 $169,438 77 97.84%

Mar: 922 $178,078 79 97.70%

You can see that our spring market has kicked in. I can personally tell you that homes priced under $200,000 that are NOT overpriced, and in good condition, sell very quickly. Homes that are not in top shape, and over priced (think Katrina pricing!) are still sitting there.

The jump in homes sold I feel is due to our regular buyers, not the people displaced from the hurricane, getting back into our market. Interest rates are creeping up but are still just a little over 6% on a 30 fixed, conventional loan.