The Greater Baton Rouge housing market in December 2023 showed a mix of rising and falling trends when compared to the previous year. Here’s a detailed analysis:

1. New Listings: There was a notable increase in new listings with 644 homes coming to the market in December 2023 compared to 548 in December 2022, showing a 17.5% rise. However, when looking at the year-to-date figures, there was a decrease of 14.6% with 11,688 new listings in 2023 compared to 13,680 in 2022.
2. Pending and Closed Sales: Both pending and closed sales decreased in December 2023. Pending sales fell by 10.2% (from 519 to 466), and closed sales saw a more significant drop of 21.0% (from 737 to 582) compared to the same month in 2022. The year-to-date numbers also showed reductions with closed sales decreasing by 25.0%.
3. Median Sales Price: The median sales price saw a slight increase. In December 2023, the median price was $260,950, a 2.3% rise from December 2022’s $255,000. The year-to-date figures also indicated a growth, with the median price increasing by 1.6%.
4. Percent of List Price Received: There was a slight decrease in the percent of list price received, dropping from 98.0% in December 2022 to 97.5% in December 2023, indicating that homes sold for slightly closer to their asking prices in the previous year.
5. Days on Market Until Sale: Homes took longer to sell, with the days on market until sale increasing by 16.3% to 57 days in December 2023 from 49 days in December 2022. The year-to-date figure also increased significantly by 65.7%.
6. Inventory and Months Supply: The inventory of homes for sale increased by 14.3%, and the months’ supply of inventory rose by 38.5%, indicating that the market shifted towards more availability, potentially giving buyers more options to choose from.

Greater Baton Rouge December 2023 Housing Market Update PDF

Abbreviated Summary December 2023 House Sales Baton Rouge:

• More Homes to Choose From: In December 2023, there were more houses up for sale than last year. That’s good news if you’re looking to buy a home!
• Buying and Selling Slowdown: Fewer people bought and sold homes compared to last year. So, houses stayed on the market a little longer before being sold.
• Prices Went Up a Bit: The amount of money people spent on homes went up a little bit. This means that homes might cost a bit more than they did last year.
• Sellers Got Close to Their Asking Price: When people sold their homes, they got almost the price they were asking for, but just a tiny bit less than last year.
• More Time to Decide: You have a bit more time to decide if you want to buy a house because they’re not selling as quickly as before.
• More Choices for Buyers: There are more homes available now, so if you’re looking to buy a house, you might have more options to choose from!

Greater Baton Rouge Pre-Listing Home Appraisals 225-293-1500

Data Source: Based on the available data from the Local Market Update for December 2023 provided by the Greater Baton Rouge Association of REALTORS® ROAM MLS.

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