The spread of the novel coronavirus may have affected many parts of the economy, but the Livingston Parish real estate market didn't show a downturn in June.
It may have constructed some pent up demand.
250 detached, single-family homes sold in the sixth month of the year. That was 90 more homes sold than May of this year, and 59 more than June of 2019.
The sales accounted for $52,425,934 in total inventory moved, which is $11 million more than June of 2019 ($41.4 million), and $20 million more than May of this year ($31.8 million).
Average home price, however, has been down year-over-year. In June, average home price hovered around $209,000, a rise by $11,000 per home from May ($198,000). But, in June of 2019 homes sold at an average price of $216,000 - $7,000 more per home.
Average days on market for Livingston Parish homes sold in June was 74, a drop from 80 in May, but an increase of 20 (54) in June of 2019.
The most expensive home sold in June was a 3,370 square foot property at 25280 Highway 1032. The 4 bedroom, 3.5 bathroom property sold for $575,000.
Through six months in 2020, 1,204 homes have sold at an average home price of $207,957. That's accounted for $250 million in sold real estate through July 26. That's $25 million more than 2019, which saw 1,114 homes sold through the same time period.
That means Livingston Parish is on track for another record year, as 2,005 homes sold in the 2019 calendar year. Despite the Great Flood of 2016, rampant growth on roads, and some infrastructure issues, individuals and families continue to choose Livingston Parish as their place of residence.
The detached, single-family home metric doesn’t include residences sold by owner, mobile homes, or people who rent homes or apartments; the detached, single-family home measuring stick only tracks homes which were sold by agents via the Multiple Listing Service (MLS), run through the Greater Baton Rouge Association of Realtors (GBRAR).
And although it includes no other form of home purchase, the detached, single-family home number has increased since 2015, with but one dip. Here are those figures:
- 2015 – 1,754
- 2016 – 1,845
- 2017 – 1,933
- 2018 – 1,830
- 2019 – 2,005
Average home value, as a standard, continues to increase as well. At $203,861 average home price sold, the metric finally stayed above the $200,000 mark for the entire year, when considering all sales.
That equated to just over $408 million in total inventory for the year which, will all other home sale figures for Livingston Parish, is a new record.