Baton Rouge-area home sales were 7.1% higher in June than a year ago, marking the 13th month in a row the market has posted a year-to-year increase.
There were 1,349 homes sold in metro Baton Rouge during June, according to figures released Thursday by the Greater Baton Rouge Association of Realtors’ Multiple Listing Service. That compares to 1,260 MLS sales in June 2020.
East Baton Rouge Parish, which accounts for the largest share of the nine-parish market, helped power the June performance. There were 722 houses sold in the parish, up 12.8% from the 640 sales a year ago. Ascension Parish had a 1.7% increase in sales to 239 from 235. Livingston Parish actually saw year-to-year sales drop by 10.5% from 267 to 239.
Pending sales, a sign of future activity, were down 13.8% to 1,222 for the area. There were 1,417 pending sales in June 2020. New listings fell by 12.2% to 1,380.
Housing inventory remained low. There were 1,691 homes on the market at the end of June, down nearly 53% from the 3,590 properties available at the end of June 2020.
The month’s supply of inventory dropped to 1.4 months, meaning that at the current pace it would take that long to sell all of the homes on the market. Six months is considered a balanced market.
The median sale price for a home in metro Baton Rouge in June was $243,300, up 13.2% from the year before. That means half of the homes in the market sold for more than that amount; half sold for less.
The number of days a home was on the market before it sold was 46, down from 79 a year ago.