Did the “Great Flood” of August 2016 negatively impact home sales prices?
It’s said, “A picture paints a thousand words…”
For ALL single family home types for ALL GBRMLS areas, the median sales price dropped from $185,000 in November 2015 to $175,000 in November 2016, a -5.4% correction. This is their data and their own chart and their facts. Only a partial reason for the drop could be the real estate investors buying in bulk for rentals and/or flipping. It’s not at all unrealistic initially for their to be a small correction, however short-term the correction may be. While I don’t wish for anyone to experience a flood, and my own home flooded as well, a breather or mini-correction in Greater Baton Rouge’s sky high historical prices is certainly welcomed and provides needed inventory in the coming months.
Data used with permission of the Greater Baton Rouge Assocation of REALTORS/MLS from 11/01/2015 to 11/30/2016.