As a Western Livingston Parish Home Appraiser, I’ve prepared an in-depth analysis of the Livingston Parish housing market based on the December 2023 sales stats.

In December 2023, the housing market in Livingston Parish, as part of the Greater Baton Rouge area, displayed a dynamic trend with notable changes in key metrics compared to the previous year. The market experienced an increase in new listings, indicating a more active market for sellers. Specifically, new listings rose by 31.4% from 105 in December 2022 to 138 in December 2023. However, this surge in listings did not translate into increased sales, as pending sales decreased by 5.2% and closed sales saw a significant drop of 17.0%, moving from 141 in 2022 to 117 in 2023.

Livingston Parish December 2023 Housing Market Update PDF

Despite the reduced sales volume, the median sales price remained relatively stable, with a slight increase of 0.5%, indicating that property values are holding steady. The percentage of list price received also saw a marginal improvement, suggesting that sellers are getting closer to their asking prices.

Western Livingston Parish Pre-Listing Home Appraisals

A noteworthy shift is observed in the Days on Market Until Sale, which decreased considerably by 37.7%, indicating a faster-moving market where homes are selling more quickly. Conversely, the inventory of homes for sale and the months supply of inventory both increased substantially, by 26.1% and 63.6% respectively, pointing to a market that is becoming more favorable to buyers.

In summary, while the Livingston Parish housing market in December 2023 saw an influx of new listings and a faster sales pace, the overall volume of sales declined, and the market shifted towards more inventory, suggesting a potential balancing of the market dynamics between buyers and sellers.

Abbreviated Summary for Livingston Parish Greater Baton Rouge December 2023 Housing Market:

• More Homes for Sale: In December 2023, there were more homes up for sale than last year. It’s like when the toy store gets more new toys right before Christmas.
• Fewer Homes Sold: Even though there were more homes to choose from, fewer people decided to buy a home compared to last year.
• Prices Pretty Stable: The amount of money people spent on homes didn’t change much. It’s like when your favorite ice cream costs almost the same as last year.
• Homes Selling Quickly: Homes found new owners faster this year. It’s like when a new video game comes out and everyone wants it right away.
• More Choices for Buyers: There are more homes waiting for new owners, kind of like more seats available on the school bus.
• Good Time for Buyers: With more homes to choose from and not as many people buying, it’s like having more choices at the lunch buffet.

These are just quick points to help understand the housing market. It’s always good to ask more questions if you’re thinking about buying a home!

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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