Sellers pay attention! While the market in Baton Rouge has done well compared with rest of the state…and the nation. WE are having our issues with pricing. The Business Report reports that the prices of homes fell by 1.3% in October when compared to the year before. That is better than the 7.8% drop nationally sure. We do have to look at is like this:
A home that would have been listed at 200,000 last year priced ACCURATELY would need to be in the region of 197000 to be competitive. Most likely that price would need to be around 195 depending on the neighborhood competition.
Good news for next year however. Baton Rouge real estate prices are expected to climb by 2.35% accoring to First American CoreLogics Home price index. Sellers, get your house in the BEST shape possible if you are considering selling.