The annual Trends in Real Estate seminar, which features local experts providing their forecast for various sectors of the Baton Rouge real estate market, will be held Thursday, and the outlook for 2016 is “cautiously optimistic.”
“The local market has remained healthy, despite the depressed oil prices,” said Jonann Stutzman, 2016 Trends chairwoman. “The Baton Rouge market is stable. It’s going to be a busy year, with the local elections happening and the national election, but people have a positive outlook.”
The conference will be at the L’Auberge Casino & Hotel Baton Rouge events center. Registration for the event begins at 7:30 a.m. Thursday. The seminar will be from 8 a.m. to noon.
Teams of local real estate professionals in the finance, industrial, multifamily, office, residential and retail sectors provide the latest information about what is going on in their field. The goal of the program is to educate members of the division, their clients and other real estate practitioners in the greater Baton Rouge area about trends in the market.
While people working in commercial real estate locally were cautious going into 2016, Stutzman said they’ve been “very pleased” with the activity so far. Home sales are running ahead of 2015’s pace. The office market remains strong. And new commercial projects continue to happen, such as the Buc-ee’s store that will be built at Interstate 12 and Millerville Road and the Square 46 mixed-use development on Government Street.
Trends in Real Estate started in 1988 as a joint project of the commercial and investment division of the Greater Baton Rouge Association of Realtors and LSU’s Real Estate Research Institute.
While the seminar usually sells out the day of the event, Stutzman said this year, all 800 tickets were sold a week in advance.
She credits this to the goodwill the seminar has built up over the years.
“Everything gets covered that day,” said Stutzman, an agent with NAI/Latter & Blum. “You see so many real estate professionals there, too. It’s an opportunity to meet with people that you maybe see once a year and discuss what’s going on.”
Along with the local outlook, Elliot Eisenberg, formerly the senior economist with the National Association of Home Builders, will be keynote speaker. Eisenberg, who spoke at the seminar two years ago, will be able to provide a forecast for the national real estate market.
Follow Timothy Boone on Twitter, @TCB_TheAdvocate.