Strong performances in East Baton Rouge, Livingston help drive rise in area home sales

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BATON ROUGE, Louisiana — Home sales in metro Baton Rouge increased by 4.8 percent in February, thanks to strong performances in East Baton Rouge and Livingston parishes.

There were 636 home sales that closed in February in the nine-parish area, according to figures released Tuesday to The Advocate (http://bit.ly/1bPzovK) by the Greater Baton Rouge Association of Realtors' Multiple Listing Service. That compares with 607 closed sales in February 2014.

In East Baton Rouge, which accounts for the biggest share of the market, sales were up by 7.1 percent. There were 334 houses sold in February, compared with 312 sales the year before.

Livingston had an even bigger percentage increase, with sales up by 15.7 percent over February 2014 totals. There were 118 homes sold in the parish compared to 102 sales the year before.

Ascension Parish, which has been hampered by a tight inventory of homes, saw a slight drop in sales from February 2014. There were 120 sales in the parish during February, down from 122 the year before.

The area-wide median sales price for a home rose 13.3 percent in February to $187,000 from $165,000, a sign of the continuing strength of the market.

The average number of days a home was on the market was down by 10.8 percent from 93 days in February 2014 to 83 days.

The number of homes for sale fell 13.6 percent from 4,179 to 3,610. The supply in months was 4.6, compared with 5.9 in 2014. A six-month supply is considered normal.

The number of new listings on the market was down 2.3 percent from 1,007 in 2014 to 984.

Through February, there were 1,161 home sales in the metro area, compared with 1,130 through February 2014, a 2.7 percent increase.


Information from: The Advocate, http://theadvocate.com

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