Summary of the key metrics for Greater Baton Rouge Louisiana homes in November 2022 vs November 2023.

In November 2023, the housing market in Greater Baton Rouge, Louisiana, showed some interesting changes compared to the previous year. The number of new listings decreased by 2.9%, with 744 new homes on the market, while the number of pending listings decreased by 13.2% to 541. Closed sales also saw a significant drop of 11.5%, with 607 homes sold. Despite these changes, the median sales price remained relatively stable, only decreasing by 0.7%, with a median price of $260,588. The percentage of the list price received for homes decreased slightly by 0.3% to 97.7%. However, one significant change was the increase in the days on market until sale, which went up by 41.3%, reaching 65 days. The inventory of homes for sale increased by 11.5%, indicating more options for buyers. Additionally, the months’ supply of inventory increased by 40.7% to 3.8 months. These changes in the housing market for November 2023 suggest a slower pace compared to the previous year, offering potential buyers more choices but also taking longer to sell homes.

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Bullet points of the Greater Baton Rouge Louisiana home sales in November 2022 vs November 2023.

New Listings:

• In 2022, there were 766 new listings.
• In 2023, there were 744 new listings.
• This is a decrease of 2.9% from 2022 to 2023.

Pending Sales:

• In 2022, there were 623 pending sales (homes that were waiting to be sold).
• In 2023, there were 541 pending sales.
• This is a decrease of 13.2% from 2022 to 2023.

Closed Sales:

• In 2022, there were 686 closed sales (homes that were successfully sold).
• In 2023, there were 607 closed sales.
• This is a decrease of 11.5% from 2022 to 2023.

Median Sales Price:

• In 2022, the median sales price was $262,433 (the middle price of all homes sold).
• In 2023, the median sales price was $260,588.
• This is a slight decrease of 0.7% from 2022 to 2023.

Percent of List Price Received:

• In 2022, sellers received 98.0% of their asking price on average.
• In 2023, sellers received 97.7% of their asking price on average.
• This is a small decrease of 0.3% from 2022 to 2023.

Days on Market Until Sale:

• In 2022, it took an average of 46 days to sell a home.
• In 2023, it took an average of 65 days to sell a home.
• This is an increase of 41.3% from 2022 to 2023, meaning homes took longer to sell.

Inventory of Homes for Sale:

• In 2022, there were 2,492 homes available for sale.
• In 2023, there were 2,779 homes available for sale.
• This is an increase of 11.5% in the number of homes for sale.

Months Supply of Inventory:

• In 2022, there was a 2.7-month supply of homes for sale.
• In 2023, there was a 3.8-month supply of homes for sale.
• This is an increase of 40.7% in the number of months it would take to sell all available homes.

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Pre-Listing Home Appraisals for Baton Rouge Louisiana

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Data Source: Based on the available data for November 2023 provided by the Greater Baton Rouge Association of REALTORS®.

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