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The Capital Region housing market saw year-over-year declines in pending sales and new listings during December but a big jump in closed sales, according to the latest report from the Greater Baton Rouge Association of Realtors.
Some 813 residential home deals closed in December, 15% more than in December 2023. For the year, 10,358 deals closed, down 17 from 2023.
Meanwhile, there were 765 new listings last month, down from 810 in 2023. Pending sales dipped 11.9% from 614 in 2023 to 541 last month. Pending sales dipped 1.8% in 2024 from the previous year.
The report also provides combined statistics for the three largest housing markets in the region: Ascension, East Baton Rouge and Livingston parishes. Across the three parishes:
- New listings decreased 5.6% to 765.
- Pending sales decreased 11.9% to 541.
- Closed sales rose 15% to 813.
- The percentage of list price received were up 0.2% to 97.6%.
- Days on the market until sale rose 21% to 75.
- Inventory of homes for sale increased 9.4% to 3,961.
- Months’ supply of inventory climbed 9.5% to 4.6.
- The median sales price dropped 0.3% to $253,843.
The median sales price at the end of 2024 across the three parishes was $256,500, up from $251,500 at the end of 2023.
Looking at the three parishes, Ascension saw a rise in the median sales price, up 4% to $300,813 in December compared to $287,138 in December 2023. Prices rose less than 1% in East Baton Rouge Parish to $265,000, while prices in Livingston Parish declined 3.3% to $236,955.
Days on market until sale reached 72 days for 2024, up 12 days from 2023.
Real estate professionals in the Capital Region say that the area’s residential market performance in 2025 will depend on different variables, including falling interest rates.
