The number of homes sold in metro Baton Rouge rose by 7.7 percent in March, thanks to double-digit sales increases in East Baton Rouge and Livingston parishes.
There were 855 homes sold in the nine-parish metro area, according to figures released Thursday by the Greater Baton Rouge Association of Realtors’ Multiple Listing Service. That compares to 794 MLS sales during March 2015.
Livingston Parish had the biggest increase in sales, going up 14.1 percent from the previous year. There were 170 homes sold in March, compared with 149 sales in March 2015.
East Baton Rouge Parish, which accounts for the largest share of home sales in the market, saw a 10.6 percent increase from March 2015. There were 449 MLS sales, compared with 406 the year before.
Ascension Parish home sales rose from 154 to 160, a 3.9 percent increase.
Along with the increased number of homes being sold, prices continued to rise in the market. The median home sale price in the metro area increased by 0.6 percent in March from $183,898 to $185,000. The median price means that half of the homes sold for less than $185,000 and half sold for more than that amount.
Pending sales in metro Baton Rouge, a sign of future activity, increased by 23.1 percent to 1,158 from 941 a year ago.
The inventory of homes for sale dropped by 14.9 percent from 3,846 in March 2015 to 3,272, a 3.8-month supply. Six months is considered an adequate inventory. New listings were up by 10 percent to 1,363 in March, compared with 1,239 a year earlier.
The number of days a house stayed on the market dropped from 90 to 78 in metro Baton Rouge.
Through the first quarter of 2016, the number of homes sold in metro Baton Rouge totaled 2,132, an 8.2 percent increase over the same time period in 2015. The median sales price was $183,500, a 0.3 percent increase.
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