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The Capital Region housing market saw an increase in both pending sales and new listings in March, giving buyers some relief.
The latest figures from the Greater Baton Rouge Association of Realtors also showed a decrease in closed sales.
“Buyers are beginning to see relief from the strong sellers’ market with an increase in inventory,” the report notes. “There was a slight decrease in the median sales price and a slight increase in percent of list price received, benefiting buyers and sellers respectively. The market is beginning to show signs of relief for buyers with homes having an increase in days on market.”
Overall, some 729 deals closed in East Baton Rouge, Ascension and Livingston parishes, down nearly 6% from last year’s 774 deals closed in March.
- New listings increased 4.9% to 1,076.
- Pending sales increased 8.3% to 899.
- Closed sales decreased 5.8% to 729.
- Median sales price decreased 1.9% to $255,000.
- The percent of list price received increased 0.1% to 98.0%.
- Days on the market until sale increased 5.6% to 76.
- Inventory of homes for sale increased 8.8% to 3,043.
- Months’ supply of inventory increased 7.9% to 4.1.
