BATON ROUGE, Louisiana — Baton Rouge-area home sales increased by 8 percent in 2015.
The Greater Baton Rouge Association of Realtors' Multiple Listing Service attributes the increase to double-digit sales increases in Livingston and East Baton Rouge parishes.
According to figures released Monday, there were 9,687 homes sold in the nine-parish area during 2015, compared with 8,973 in 2014.
Rick Haase, president of Latter & Blum, the parent company of C.J. Brown Realtors, tells The Advocate (http://bit.ly/1P2FZSC) the increased home sales primarily have to do with the economic development activity happening in metro Baton Rouge.
Livingston had the biggest sales gain during the year, increasing by nearly 12.1 percent to 1,845 sales during 2015, compared with 1,646 a year earlier.
East Baton Rouge, which accounts for the largest share of home sales in the region, had a 10.9 percent increase in sales to 5,260, compared with 4,741 in 2014.
Ascension, which was hampered by limited inventory, saw sales go up by 1.6 percent to 1,758 from 1,731 sales in 2014.
Other measurements also showed the strength of the local housing market. The median sales price of a home in the metro area increased by 5.4 percent during 2015 to $187,500. The number of days homes were on the market slid from an average of 84 in 2014 to 78.
Tiffany Palmer, the current president of the GBRAR, said the strongest market was for homes in the $150,000 to $300,000 range.
Information from: The Advocate, http://theadvocate.com