The number of homes sold in metro Baton Rouge was 23.9% higher in October than the year before, continuing a five-month hot streak triggered by low interest rates and rebound from an early coronavirus-related slump.
There were 1,134 homes sold in the nine-parish area in October, according to figures released Thursday by the Greater Baton Rouge Association of Realtors' Multiple Listing Service. This was the fifth month in a row sales outstripped 2019 figures by double-digits, coming off pandemic-related downturns during March and April.
Ascension Parish had the biggest gain, increasing by 33.5% to hit 219 MLS sales in October. Livingston Parish had a similar jump, increasing by 31.3% to 206 sales. East Baton Rouge, which accounts for the largest share of the area housing market, had a 17% increase, with 545 homes sold.
The median sales price areawide for a home was $232,865 in October, meaning that half of the homes sold for less than that price, half sold for more. That’s an 11% gain over the median sales price in October 2019.
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Pending sales, a sign of future activity, were up 22.9% in October to 1,025.
Inventory was down 36.5% to 2,885 homes. There is now a 2.8 month supply of homes for sale at the current pace.
New listings dropped by 1% from a year ago, to 1,169. The number of days a home was on the market before it was sold dropped to 64 from 69 the year before.