The number of homes sold in metro Baton Rouge increased in February from the year before, despite a slight sales drop in East Baton Rouge Parish.
There were 660 homes sold in the nine-parish metro region in February, according to the Greater Baton Rouge Association of Realtors’ Multiple Listing Service. That’s a 1.4 percent increase over the 651 MLS sales that happened in February 2015.
Livingston Parish had the biggest increase in sales, going up 9.8 percent from 122 sales in February 2015 to 134 sales. Ascension Parish had a modest 1.6 percent gain, going from 127 MLS sales in February 2015 to 129.
East Baton Rouge, which accounts for the largest share of home sales, saw activity drop 2.3 percent. There were 339 sales in the parish in February, compared with 347 sales in February 2015.
The median sales price for a home in metro Baton Rouge dropped by 2.7 percent, from $188,750 in February 2015, to $183,575.
Other measurements also showed the strength of the local housing market. The number of days homes were on the market slid from an average of 84 in 2015 to 80. New listings were up by 15.2 percent, increasing to 1,160. The number of pending sales, a good indicator of future activity, went from 773 in February 2015 to 930, a 20.3 percent increase.
The number of homes for sale dropped by 14.7 percent, to 3,250, while the months supply of houses went from 4.9 to 3.9. Six months is considered to be a balanced supply. GBRAR officials said they are concerned about low inventory going into the spring and summer, when buying picks up.
For the first two months of the year, there were 1,253 MLS home sales, a 6.5 percent increase over the 1,177 sales through February 2015.
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