Baton Rouge-area homebuyers are starting to see some relief from the strong seller’s market as inventory and the number of days houses stay on the market both climb, according to the latest report from the Greater Baton Rouge Association of Realtors.
However, home sales were down 4.1% compared to the year before, and pending sales and new listings also dropped in January relative to January 2023.
The association reports stats from the region’s three main housing markets—Ascension, East Baton Rouge and Livingston parishes—all of which saw declines of closed sales, pending sales and new listings. Across the three parishes:
- New listings decreased 8.5% to 842.
- Pending sales decreased 4.6% to 679.
- Closed sales decreased 4.1% to 496.
- Median sales price increased 1.2% to $258,000.
- Percentage of list price received decreased 0.1%, to 97.4%.
- Days on market until sale increased 11.8% to 76.
- Inventory of homes for sale increased 11.7% to 2,622.
- Months’ supply of inventory increased 33.3% to 3.6.
Read More: Baton Rouge-area home sales continued to decrease in January