CJ Brown has published their quarterly home sales report, The Market Measure, for the State of Louisiana – Latter & Blum’s Gulf South Real Estate Overview 2016 Q1
This report covers Greater Baton Rouge, Acadiana, Greater New Orleans, Central Louisiana, Houma & Thibodaux, Greater Lakes Charles area, Mississippi Gulf Coast and Commercial sector.
For Greater Baton Rouge, CJ Brown states, “Strong demand, decreasing inventories and slight price appreciation indicate a healthy real estate market in Greater Baton Rouge.” The charts below are from this report.
For residential properties – new listings versus pended versus sold, “the number of new listings was up 8.3% at the close of Q1 2016, and pended and sold properties were up 20.2% and 6.9% compared to Q1 2015.”
For months of available inventory, “at the close of March 2016, based on the rate of pended sales, active inventory stood at 2.6 months versus 3.6 months at the close of March 2015. Greater Baton Rouge is experiencing a continued decline in supply in some areas at the current level of demand.”
For closed dollar volume – Q1 2015 vs Q1 2016, “In Q1 2016, closed dollar volume was up 9.3% compared to Q1 2015. Although unit sales were up 6.9%, the closed dollar volume increase may also be attributed to average selling price gains.”
This is more great news for Greater Baton Rouge Real Estate!
Again, this is The Market Measure link.