Number of Active Listings by Price Range as of March 1st, 2018 within the 4 Parish area I call “Greater Baton Rouge”.
Number of Active Listings by Price Range in Greater Baton Rouge (East Baton Rouge, West Baton Rouge, Ascension & Livingston)
TALK ABOUT LOW INVENTORY!
Considering 10,368 Homes Sold In 2017 and there are only 2,900+/- active listings. No fear though because in March 2017, there were only 2400 active listings, 500 Less Listing, and 10,368 homes were still sold. BUT, mortgage Rates were 3.6% in March 2017 vs 4.27% March 2018.
Notice there’s more active listings of over $1,000,000 homes than $500,000 to $750,000 homes.
HOWEVER, Inventory isn’t low in ALL markets, mainly in “hot pockets” of our markets such as 70806, 70808, 70809, 70810 and N Ascension. If you desire an older ranch style in Area 43 – Parkview Oaks, Hickory Ridge, Woodlawn Estates or Shenandoah, there are 31 available homes listed. Sherwood Forest offers 34 active listings.
What Greater Baton Rouge Homebuyers Prefer
Location, Age of Home, Home Design and/or Level of Renovation of older homes matters Big Time!…except in the Garden District where location rules. I’m hearing buyers are fickle and will look at several homes without writing a contract.
Some Micro Markets Have Already Turned Into BUYERS MARKETS and not ALL of Greater Baton Rouge can be labeled “sellers market”.
In 70809 Jefferson Terrace this week, I witnessed an older updated home I measured for an Agent last Saturday receive 3 offers on Monday. In a North Ascension appraisal this week of a 5-year-old 1700sf home, I only found 3 competing active listings.
NOTE: Bankrate.com was quoting 30 year rates at 4.27 percent and Freddie Mae at 4.43 percent