Sunday, March 02, 2014

Mardi Gras and the Spring Market

After a winter we all are not used to, Mardi Gras, thank goodness, is here with good weather to boot. As the temps heated up this past week in Baton Rouge, 79 degrees, the buyers are back out looking at houses, offers are coming in - just a sign of things to come. With a strong economy and low unemployment, the Greater Baton Rouge Real Estate market will see another banner year in 2014. We always thought the 'Katrina' years would not be beat, but we proved ourselves wrong on that in 2012 on my team - our best year ever! Last year sales were even stronger. The best evidence of that is the amount of inventory on the market. Baton Rouge has shrunk to a 4 month supply of available houses, and Ascension Parish runs between 2 and 3 months. What has that done to pricing? So far, we haven't seen prices approach the Katrina years but if inventory remains low, prices have to rise. If interest rates remain low, then prices will climb. If interest rates rise, as expected, then prices will stay stable as they always have in our area. So, if you are thinking of selling, give us a call. We will help you decide what you need to do to get your house ready for market. If you are thinking of buying, then set up a buyer counseling interview so we can show you how to go about finding the perfect house and making it yours!! The Pat Wattam Team at RE/MAX First is always here to help!

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