March 2014 Activity Snapshot One-Year Change in One-Year Change in Closed Sales Median Sales Price 2 3 4 5 6 7 8 9 10 11 12 Click on desired metric to jump to that page. Current as of April 10, 2014. All data from the Greater Baton Rouge Association of REALTORS® MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. Pending Sales Closed Sales Days on Market Until Sale Median Sales Price Average Sales Price Percent of List Price Received During this year's spring refresh, seller activity is the first item on the watch list. Low inventory has been a national headline grabber, and many are eager to see if this is the year that brings a bevy of new properties to market for ready-to- buyers. Investor activity and cash purchases should be monitored, as well, along with any increases in new construction. And although interest rates are up from their all-time lows, borrowing costs are still remarkably affordable. It's cheaper to own than to rent in most of the country. New Listings in Greater Baton Rouge decreased 8.8 percent to 1,106. Pending Sales were up 10.3 percent to 968. Inventory levels shrank 9.8 percent to 3,795 units. Prices remained determined. The Median Sales Price increased 5.9 percent to $178,005. Days on Market was up 1.1 percent to 94 days. Absorption rates improved as Months Supply of Inventory was down 17.5 percent to 5.2 months. Consumers are in better shape for the current financial landscape, just in time for the primary home-buying season. Along with an uptick in consumer confidence, GDP growth was revised up to 2.6 percent by the Commerce Department. Consumer spending has risen and claims for unemployment benefits have decreased. Economic health fuels housing market growth. Employed, confident people with rising incomes tend to purchase real property. Homes for Sale A research tool provided by the Greater Baton Rouge Association of REALTORS®. Residential real estate activity comprised of single-family properties, townhomes and condominiums combined. Percent changes are calculated using rounded figures. Activity Overview New Listings Housing Affordability Index Inventory of Homes for Sale Months Supply of Inventory Monthly Indicators - 14.6% + 5.9% - 9.8% One-Year Change in
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March 2014 Activity Snapshot
One-Year Change in One-Year Change inClosed Sales Median Sales Price
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Click on desired metric to jump to that page.
Current as of April 10, 2014. All data from the Greater Baton Rouge Association of REALTORS® MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing.
Pending SalesClosed SalesDays on Market Until SaleMedian Sales PriceAverage Sales PricePercent of List Price Received
During this year's spring refresh, seller activity is the first item on the watch list. Low inventory has been a national headline grabber, and many are eager to see if this is the year that brings a bevy of new properties to market for ready-to-buyers. Investor activity and cash purchases should be monitored, as well, along with any increases in new construction. And although interest rates are up from their all-time lows, borrowing costs are still remarkably affordable. It's cheaper to own than to rent in most of the country.
New Listings in Greater Baton Rouge decreased 8.8 percent to 1,106. Pending Sales were up 10.3 percent to 968. Inventory levels shrank 9.8 percent to 3,795 units.
Prices remained determined. The Median Sales Price increased 5.9 percent to $178,005. Days on Market was up 1.1 percent to 94 days. Absorption rates improved as Months Supply of Inventory was down 17.5 percent to 5.2 months.
Consumers are in better shape for the current financial landscape, just in time for the primary home-buying season. Along with an uptick in consumer confidence, GDP growth was revised up to 2.6 percent by the Commerce Department. Consumer spending has risen and claims for unemployment benefits have decreased. Economic health fuels housing market growth. Employed, confident people with rising incomes tend to purchase real property.
Homes for Sale
A research tool provided by the Greater Baton Rouge Association of REALTORS®. Residential real estate activity comprised of single-family properties, townhomes and condominiums combined. Percent changes are calculated using rounded figures.
Activity OverviewNew Listings
Housing Affordability IndexInventory of Homes for SaleMonths Supply of Inventory
Current as of April 10, 2014. All data from the Greater Baton Rouge Association of REALTORS® MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 2
- 0.1%
Affordability Index 159 143 - 10.1% 159 148 - 6.9%
Pct. of List Price Received 96.9% 97.1% + 0.2% 96.9% 96.8%
Median Sales Price $168,048 $178,005 + 5.9% $167,600 $170,000
+ 0.2%
Days on Market 93 94 + 1.1% 97 92 - 5.2%
Closed Sales 758 647 - 14.6% 1,772 1,775
Key metrics by report month and for year-to-date (YTD) starting from the first of the year.
New Listings 1,213 1,106 - 8.8% 3,091 - 9.8%
Pending Sales 878 968 + 10.3% 2,157 2,362 + 9.5%
3,426
3-2011 3-2012 3-2013 3-2014
3-2011 3-2012 3-2013 3-2014
3-2011 3-2012 3-2013 3-2014
3-2011 3-2012 3-2013 3-2014
3-2011 3-2012 3-2013 3-2014
3-2011 3-2012 3-2013 3-2014
3-2011 3-2012 3-2013 3-2014
3-2011 3-2012 3-2013 3-2014
3-2011 3-2012 3-2013 3-2014
3-2011 3-2012 3-2013 3-2014
New Listings
Prior Year Percent Change
April 2013 1,262 1,142 +10.5%
May 2013 1,246 1,217 +2.4%
June 2013 1,179 1,114 +5.8%
July 2013 1,210 1,176 +2.9%
August 2013 1,173 998 +17.5%
September 2013 1,080 918 +17.6%
October 2013 1,065 1,072 -0.7%
November 2013 804 814 -1.2%
December 2013 665 607 +9.6%
January 2014 973 1,190 -18.2%
February 2014 975 1,023 -4.7%
March 2014 1,106 1,213 -8.8%
12-Month Avg 1,066 1,040 +2.5%
Historical New Listings by Month
Current as of April 10, 2014. All data from the Greater Baton Rouge Association of REALTORS® MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 3
A count of the properties that have been newly listed on the market in a given month.
Current as of April 10, 2014. All data from the Greater Baton Rouge Association of REALTORS® MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 4
A count of the properties on which offers have been accepted in a given month.
Current as of April 10, 2014. All data from the Greater Baton Rouge Association of REALTORS® MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 5
A count of the actual sales that closed in a given month.
Current as of April 10, 2014. All data from the Greater Baton Rouge Association of REALTORS® MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 6
Average number of days between when a property is listed and when an offer is accepted in a given month.
Days on Market
* Average Days on Market of all properties from April 2013 through March 2014. This is not the average of the individual figures above.
Current as of April 10, 2014. All data from the Greater Baton Rouge Association of REALTORS® MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 7
Point at which half of the sales sold for more and half sold for less, not accounting for seller concessions, in a given month.
Median Sales Price
* Median Sales Price of all properties from April 2013 through March 2014. This is not the average of the individual figures above.
Current as of April 10, 2014. All data from the Greater Baton Rouge Association of REALTORS® MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 8
Average sales price for all closed sales, not accounting for seller concessions, in a given month.
Average Sales Price
* Average Sales Price of all properties from April 2013 through March 2014. This is not the average of the individual figures above.
Historical Percent of List Price Received by Month
Current as of April 10, 2014. All data from the Greater Baton Rouge Association of REALTORS® MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 9
Percentage found when dividing a property’s sales price by its most recent list price, then taking the average for all properties sold in a given month, not accounting for seller concessions.
Pct. of List Price Received
* Average Pct. of List Price Received for all properties from April 2013 through March 2014. This is not the average of the individual figures above.
Current as of April 10, 2014. All data from the Greater Baton Rouge Association of REALTORS® MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 10
This index measures housing affordability for the region. An index of 120 means the median household income is 120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability.
Current as of April 10, 2014. All data from the Greater Baton Rouge Association of REALTORS® MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 11
The number of properties available for sale in active status at the end of a given month.
Homes for Sale
* Homes for Sale for all properties from April 2013 through March 2014. This is not the average of the individual figures above.
Current as of April 10, 2014. All data from the Greater Baton Rouge Association of REALTORS® MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 12
The inventory of homes for sale at the end of a given month, divided by the average monthly pending sales from the last 12 months.
Months Supply
* Months Supply for all properties from April 2013 through March 2014. This is not the average of the individual figures above.