Baton Rouge Area Home Sales Increase In 2014
BATON ROUGE (AP) — Baton Rouge area home sales increased by 3.2 percent in 2014, thanks to more activity in Livingston and Ascension parishes.
There were 8,903 homes sold in the nine-parish area during 2014, compared with 8,625 in 2013, according to figures released Tuesday by the Greater Baton Rouge Association of Realtors' Multiple Listing Service.
Livingston had the biggest sales gain during the year, increasing by nearly 11 percent over 2013 figures. There were 1,639 sales in the parish during 2014, compared with 1,479 a year earlier.
Ascension had a 3.2 percent sales gain, going from 1,667 in 2013 to 1,720 in 2014.
The Advocate’s Timothy Boone reports East Baton Rouge still accounted for the largest percentage of home sales in the region. There were 4,700 MLS sales during the year. That was virtually unchanged from 2013, when there were 4,708 MLS sales.
Along with the increased sales figures, other measurements showed the strength of the local housing market. The median sales price of a home in the metro area increased by 2 percent during 2014, going up to $177,500. At the same time, the number of days homes were on the market slid from an average of 85 in 2013 to 84.
The number of new listings fell by 2 percent for the year, going from 13,155 in 2013 to 12,893. That further restricted the number of houses for sale. In December 2013, there were 4,193 homes for sale, compared with 3,658 in December 2014. The supply of homes dropped from 5.9 months at the end of 2013 to 4.7.
Donna Wolff, president of the Greater Baton Rouge Association of Realtors, said that it remains a sellers market because of the dwindling inventory and low interest rates.
"Across the board, if a house is in a good location, in good condition and it's priced well, it is going to sell," she said.