East Baton Rouge Real Estate Home Sales Report Aug 2011 vs Aug 2012 Market Videos
Welcome to your monthly market update for East Baton Rouge Cumulative.
Let’s take a look at All Single Family market activity in your area during the month of August 2012.
ACTIVE INVENTORY 2011-2012.
The Number of Active Listings Was Down 8 percent From 1 Year Earlier from 3,416 to 3,158 August 2011 vs August 2012. And down 3 percent from the previous month. The average months supply of inventory is down 15.1 percent year over year. This smaller inventory means that buyers who waited to buy may have had a smaller selection to choose from.
MEDIAN LISTING PRICE 2011-2012.
As you can see, the median listing price for the month was just over $166,450, $1,500 higher than in August 2011 or a 1 percent increase.
DAYS ON MARKET 2011-2012.
Compared to last year, the average number of days homes remained on the market before being sold is down 6 percent from 111 to 105 days. This lower number of days may signal a positive trend in the local inventory turnover rate.
MEDIAN SALES PRICE 2011-2012 Up 4%.
Meanwhile, the Median Sales Price was $176,000 indicating a 4 percent increase from August 2011 at $169,740.
UNITS SOLD 2011-2012. Overall, the number of homes sold decreased 13 percent year over year from 397 to 344. And, Decreased down 16% from the previous month from 408 to 344 sales. Fewer sales may be indicating more opportunity for buyers to negotiate better sales terms. Or, with less inventory on the market, it may indicate sellers have more leverage in selling prices.
Thanks for watching! We hope you use this information to make smart informed decisions in your upcoming home purchase.
Have a local Greater Baton Rouge Housing Question? See our contact information within the description of this video and don’t hesitate to ask. Brought to you by Bill Cobb Appraiser and Baton Rouge Housing Reports Market Videos. Email Bill info at batonrougehousingreports.com .
NOTE: Based on info from the Greater Baton Rouge Association of REALTORS® MLS for the period of 08/01/2011 to 09/15/2012 for all residential properties. This information was extracted on 09/15/2012.
Median Sold Price by Month
Aug-11 vs. Aug-12: The median sold price is up 4%
Median For Sale vs. Median Sold
Aug-11 vs. Aug-12: The median price of for sale properties is up 1% and the median price of sold properties is up 4%
Sold Properties by Month
Aug-11 vs. Aug-12: The number of sold properties is down 13%
Under Contract Properties by Month
Aug-11 vs. Aug-12: The number of under contract properties is up 8%
New Properties by Month
Aug-11 vs. Aug-12: The number of new properties is down 5%
For Sale Properties by Month
Aug-11 vs. Aug-12: The number of for sale properties is down 8%
Expired Properties by Month
Aug-11 vs. Aug-12: The number of expired properties is down 15%
Supply & Demand by Month
Aug-11 vs. Aug-12: The number of for sale properties is down 8% and the number of sold properties is down 13%
The Average Days on Market by Month
Aug-11 vs. Aug-12: The average days on market is down 6%
Months Supply of Inventory
Aug-11 vs. Aug-12: The average months supply of inventory is down -15.1%