B.R. home sales jump 20% in February

B.R. home sales jump 20% in February




Baton Rouge area home sales in February soared to heights not seen since 2008. The 508 sales recorded in the eight-parish region on the month represent a 20.4% increase over the 422 sales recorded last February, according to statistics from the Greater Baton Rouge Association of Realtors. The last time more than 500 homes were sold in February was 2008, when 598 sales were tallied. February was an even stronger month than January, when sales were up 15.8% over 2011 figures. Year-to-date, Baton Rouge area home sales now stand at 939. That's 18.3% better than the 794 sold through February in 2011; 15.6% better than the 812 sold in 2010; and 13.3% better than the 829 sales recorded in 2009. "We've had a really great couple of months—going back to the last quarter of 2011, really—and I think there's two things going on here," says Pat Wattam, a Re/Max First agent and GBRAR president-elect. "One, people are realizing these record-low interest rates aren't going to hold after the (presidential) election; and two, people are finally feeling confident about the economy." The region's average sale price in February was $191,256, up from $179,428 on the month a year ago. Year-to-date sales volume for 2012 is at approximately $173.6 million, up slightly more than 20% compared to $144.5 million in sales through February last year. See a complete breakdown of the GBRAR's sales figures here. —Steve Sanoski



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