The number of homes sold in metro Baton Rouge was 36.5% higher in September than the year before, continuing a four-month hot streak triggered by low interest rates and rebound from an early coronavirus-related slump.
There were 1,220 homes sold in the nine-parish area in September, according to figures released Thursday by the Greater Baton Rouge Association of Realtors' Multiple Listing Service, up from 894 sales in September 2019. This was the fourth month in a row sales outstripped 2019 figures by double-digits, coming off pandemic-related downturns during March and April.
Home sales traditionally drop in September, as children go back to school. But with many children taking classes online because of the pandemic, the market has stayed strong.
A big gain in East Baton Rouge Parish boosted the numbers. There were 598 MLS sales in the parish during September, a 41.4% increase from 423 sales a year ago.
Livingston Parish had a 35.5% increase in MLS sales to 267 from 197 a year earlier. Ascension Parish had a 25.4% increase to 222 MLS sales from 177 sales.
The median sales price areawide for a home was $224,700 in September, meaning that half of the homes sold for less than that price, half sold for more. That’s a 7% gain over the median sales price of $210,000 in September 2019.
Pending sales, a sign of future activity, were up 30.4% in September to 1,064 from 816 a year ago.
Inventory was down 34.2% to 3,048 homes from 4,635 homes in September 2019. The number of days a home was on the market before it was sold dropped to 65 from 69 the year before.
Through the first nine months of the year, 9,133 homes have been sold in metro Baton Rouge, up from 8,429 MLS sales through September 2019, an 8.4% increase. Livingston is up 14.7% to 1,884 MLS sales from 1,642 for the first nine months of 2019. East Baton Rouge has increased by 7% from 4,383 to 4,689. Ascension is up 6.6% from 1,567 sales to 1,670.