BATON ROUGE — The fall housing market brought a mixed set of trends across the Greater Baton Rouge region, with closed home sales dipping compared to last year while pending sales, new listings, and overall inventory showed modest gains.
Nationally, existing-home sales ticked up in some regions this fall, and buyers in many markets saw slightly more options and slower price growth. Locally, the Greater Baton Rouge Association of Realtors® (GBRAR) reports similar signs of a market adjusting after several years of volatility.
Across the nine-parish GBRAR region, closed sales fell 9% year over year to 634. New listings were up 3.2%, and pending sales, a key indicator of future closings, rose 9.5%. The median sales price dipped slightly, down 1.1% to $255,000, and homes stayed on the market longer, averaging 77 days.
Inventory grew 1.8% to 3,329 homes, though the months supply of inventory held steady at 4.4 months, suggesting a gradually balancing market.
East Baton Rouge Parish continues to see cooling activity:
Closed sales: down 13%
Pending sales: up 4%
Median sales price: down 2.7% to $253,000
Inventory: up 2.2% to 1,779 homes
Months supply: up to 4.5 months
Days on market: increased to 72 days
Percent of list price received: dipped slightly to 97.1%
Ascension Parish experienced similar softening in sales but gains in inventory:
Closed sales: down 14.3%
New listings: down 13.9%
Pending sales: up 6.3%
Median sales price: down 7.5% to $296,000
Inventory: up 7.3% to 483 homes
Months supply: up to 4.1 months
Days on market: up sharply to 77 days
Livingston Parish stood out as the only major parish with rising closed sales:
Closed sales: up 4.5% to 140
Median sales price: essentially unchanged at $238,410
New listings: down 4.2%
Days on market: rose to 80 days
Percent of list price received: slipped to 97.9%
Inventory: down 9.7% to 529 homes
Months supply: fell to 3.6 months as available homes tightened
The Greater Baton Rouge Association of Realtors® represents more than 3,600 real estate professionals across the Baton Rouge metro area, including agents, brokers, appraisers, and affiliated industry members. The association covers East and West Baton Rouge, Livingston, Iberville, Ascension, Pointe Coupee, St. Helena, and East and West Feliciana parishes.
