Capital Region home sales 7.7% ahead of 2009

From Baton Rouge Business Report

Through the first six months of the year, Capital Region home sales are running 7.7% ahead of last year’s pace. According to the Greater Baton Rouge Association of Realtors Multiple Listing Service, 3,576 homes have been sold in metro Baton Rouge for the first six months of the year. That compares with 3,320 MLS sales through June 2009. The average sale price is slightly down, reflecting the first-time sales that have spurred most of the activity. The average sale price was $193,107 as of June, compared with $193,683 in June 2009.

Livingston Parish has seen the biggest increase in sales. There were 658 homes sold in the parish during the first six months of the year, compared with 522 as of June 2009. The average sale price was $161,793, down slightly from the $164,793 average in 2009.

Ascension Parish has also seen a double-digit increase in sales. There were 749 homes sold in the parish during the first six months of the year, compared with 630 as of June 2009. The average sale price was $198,170, down from $209,524. East Baton Rouge had the highest average sale price, despite reporting a drop in year-to-year transactions. There were 1,918 homes sold in the first six months of the year, compared with 1,970 sales as of June 2009. The average sale price was up, from $199,593 to $204,474. In the other category, which includes MLS sales in parishes such as West Baton Rouge, Iberville and the Felicianas, there were 251 sales, for an average of $173,228, compared with 198 sales in 2009 for an average of $160,635.

Poll: Prairieville market seen as strongest in region

From Baton Rouge Business Report

Forty-seven percent of people who responded to a Real Estate Weekly poll say Prairieville has the strongest residential real estate market out of seven Capital Region cities. Twenty-eight percent of people who took the survey say Zachary has the strongest market, and 11% selected Denham Springs. Nearly 125 people participated in the survey.

B.R. ranks second best for jobs

Forbes magazine says Baton Rouge is the second-best midsized city in terms of job growth. Baton Rouge finished second, five spots higher than the 2009 rankings, despite seeing the number of non-farm jobs drop by 2.4%.

While 2009 was a dismal economic year, cities that had concentrations of government workers and government-subsidized industries, such as health care and colleges, fared better than others. Only Raleigh-Durham-Chapel Hill, N.C., finished higher than Baton Rouge. In all categories, the Capital Region finished 15th in the Forbes rankings. Adam Knapp, BREC president and CEO, says the Forbes report confirms that the Capital Region economy is one of the most competitive in the U.S.

March home sales in Baton Rouge and surrounding areas

Sales By Area
Criteria: Status: S, Category: RESIDENTIAL
Statistics for Entire Mls from 3/1/2010 to 4/1/2010
Category:1
Area # of Sales Total Sales Avg Sales Median Sales
11 EBR MLS AREA 11 35 $5,648,977 $161,399 $142,000
21 EBR MLS AREA 21 9 $1,132,000 $125,777 $132,000
22 EBR MLS AREA 22 16 $1,682,750 $105,171 $85,750
31 EBR MLS AREA 31 10 $360,930 $36,093 $35,250
41 EBR MLS AREA 41 19 $2,257,900 $118,836 $134,900
42 EBR MLS AREA 42 33 $5,213,350 $157,980 $155,000
43 EBR MLS AREA 43 60 $12,331,700 $205,528 $189,150
50 EBR MLS AREA 50 2 $240,000 $120,000 $120,000
51 EBR MLS AREA 51 9 $2,136,380 $237,375 $192,500
52 EBR MLS AREA 52 29 $9,439,120 $325,486 $252,000
53 EBR MLS AREA 53 56 $16,710,125 $298,395 $245,500
61 EBR MLS AREA 61 18 $4,413,750 $245,208 $180,000
62 EBR MLS AREA 62 15 $3,378,300 $225,220 $225,000
70 WBR MLS AREA 70 10 $1,833,200 $183,320 $181,500
72 IBR MLS AREA 72 2 $596,000 $298,000 $298,000
73 IBR MLS AREA 73 4 $549,960 $137,490 $133,930
74 PC MLS AREA 74 12 $2,784,900 $232,075 $197,000
80 LIV MLS AREA 80 8 $1,057,600 $132,200 $130,000
81 LIV MLS AREA 81 36 $5,412,850 $150,356 $144,900
82 LIV MLS AREA 82 16 $2,553,000 $159,562 $162,400
83 LIV MLS AREA 83 27 $4,459,920 $165,182 $145,920
85 TNG MLS AREA 85 1 $115,000 $115,000 $115,000
86 TNG MLS AREA 86 1 $175,000 $175,000 $175,000
90 ASC MLS AREA 90 89 $19,835,379 $222,869 $182,900
91 ASC MLS AREA 91 36 $6,005,079 $166,807 $177,400
92 ASC MLS AREA 92 11 $2,907,800 $264,345 $286,000
93 EFL MLS AREA 93 8 $1,580,545 $197,568 $111,950
94 WFL MLS AREA 94 2 $450,000 $225,000 $225,000
95 OTH MLS AREA 95 (OTHER) 1 $57,000 $57,000 $57,000
TOTALS 575 $115,318,515 $200,553 $174,500

Capital Region home sales down in February

From the Baton Rouge Business Report

Capital Region home sales were down 6% in February, when compared to the year before. According to figures from the Greater Baton Rouge Association of Realtors Multiple Listing Service, there were 415 homes sold in the Capital Region, compared with 443 in February 2009. Ascension Parish once again saw its sales increase, going from 91 MLS transactions in February 2009 to 94 last month. The average sale price in Ascension was down, however, from $213,461 to $192,596. East Baton Rouge Parish saw its home sales fall by nearly 15%, from 241 to 206. The average sale price was virtually unchanged, from $212,603 in February 2009 to $211,956 last month. Livingston Parish average sale prices increased, from $149,930 in 2009 to $157,000. But the number of homes sold in the parish dropped to 77, from 86 in February 2009. Sales and average prices were up in the other category, which includes MLS sales in parishes such as West Baton Rouge, Iberville and the Felicianas. There were 38 homes sold, at an average price of $166,807, compared with 25 sales and an average price of $154,562 in February 2009. Through the first two months of the year, the number of home sales was down 6% in the Capital Region, to 790, while the average sale price was down 2%, to $189,253.

—Timothy Boone

Sales activity over the last quarter in EBR and Ascension

Sales By Area
Criteria: Status: S, Category: RESIDENTIAL
12/4/2009 to 3/4/2010
Category:1
Propery Type :D SF
Counties:ASC,EBR
Area # of Sales Total Sales Avg Sales Median Sales
11 EBR MLS AREA 11 60 $9,544,537 $159,075 $149,500
12 EBR MLS AREA 12 3 $239,800 $79,933 $92,900
21 EBR MLS AREA 21 28 $4,582,500 $163,660 $139,000
22 EBR MLS AREA 22 30 $3,564,900 $118,830 $114,750
31 EBR MLS AREA 31 37 $1,636,813 $44,238 $35,500
41 EBR MLS AREA 41 50 $6,609,404 $132,188 $127,000
42 EBR MLS AREA 42 66 $10,783,940 $163,393 $152,450
43 EBR MLS AREA 43 89 $19,819,787 $222,694 $199,500
50 EBR MLS AREA 50 1 $330,000 $330,000 $330,000
51 EBR MLS AREA 51 20 $5,534,100 $276,705 $238,450
52 EBR MLS AREA 52 37 $10,675,725 $288,533 $280,000
53 EBR MLS AREA 53 67 $21,324,919 $318,282 $261,900
60 EBR MLS AREA 60 6 $808,000 $134,666 $134,500
61 EBR MLS AREA 61 35 $12,863,175 $367,519 $240,000
62 EBR MLS AREA 62 28 $9,249,000 $330,321 $303,950
90 ASC MLS AREA 90 168 $32,954,840 $196,159 $177,300
91 ASC MLS AREA 91 67 $13,294,065 $198,418 $176,500
92 ASC MLS AREA 92 14 $2,681,612 $191,543 $170,000
TOTALS 806 $166,497,117 $206,572 $175,000

Business Report Poll shows public opinion on Baton Rouge Home Pricing

A Baton Rouge Business Report poll  shows that Fifty-eight percent of people who responded to a Real Estate Weekly poll say buyers have the advantage locally in the market for homes under $300,000. Thirty-six percent of people who participated in the survey say the market favors neither buyers or sellers, while 6% say it’s a sellers market below $300,000. Nearly 100 people participated in the survey.

Capital Region home sales down 6.2%

From the Business Report:

Capital Region home sales down 6.2%

The number of houses sold in metro Baton Rouge fell by 6.2% during 2009, despite an increase in sales in Ascension and Livingston parishes. There were 6,905 houses sold in the Capital Region, according to the Greater Baton Rouge Association of Realtors Multiple Listing Service. That compares with the 7,362 MLS sales that happened in 2008. East Baton Rouge Parish home sales were down 10.6% for the year, going from 4,467 sales in 2008 to 3,992 in 2009. That outweighed the 3.3% sales gains reported in Livingston, where there were 1,233 MLS transactions compared with 1,193 in 2008, and the 3% gain in Ascension, which went from 1,236 sales in 2008 to 1,274 in 2009. The other Capital Region category, which includes MLS sales in parishes such as West Baton Rouge, East Feliciana, West Feliciana and Iberville, likewise reported a drop in sales, from 466 in 2008 to 406 in 2009. As in most parts of the U.S., local sales were driven by first-time homebuyers and all the incentives given to them. That outcome is reflected in the drop in average sale prices. In 2008, the average sale price in metro Baton Rouge was $201,521, falling to $191,252.

Home sales plunge nationally in november

From Fox Business:

Pending home sales unexpectedly plunged in November, according to a report issued Tuesday by the National Association of Realtors, posting their largest drop on record after several months of positive gains for a closely-watched indicator of housing market activity.

According to the industry group, November pending home sales activity dropped by 16% to a reading of 96.0, compared with the previous month’s reading of 114.3. The drop was much larger than expected by Wall Street, which was looking for a dip of 2% for the indicator for November.

It was the largest drop, point-wise, since the industry group started the index in 2001, dragging the indicator to its lowest level since June.

NAR officials said the drop was related to a decrease in sales activity as the original Dec. 1 deadline for the first-time home-buyers tax credit approached. Pending home sales are contracts signed,  meaning it could take several months for a home buyer to finance and finish the transaction. A November home buyer may have been too late to qualify for the original deadline.

The U.S. government extended in November the $8,000 tax credit to a new deadline of April 30, in response to industry and consumer pressure. Housing market sales have risen 15.5% from a year ago, which many believe is primarily related to the tax credit.

Lawrence Yun, NAR’s chief economist, said activity was expected to slow in the winter but he expects it to pick up again as the new April deadline approaches.

“The fact that pending home sales are comfortably above year-ago levels shows the market has gained sufficient momentum on its own,” Yun said in a statement. “We expect another surge in the spring as more home buyers take advantage of affordable housing conditions before the tax credit expires.”

Regionally, the pending home sales plunged 25.7% in the Northeast, but remain up 14.7% from the same period a year ago. In the Midwest, sales dropped 25.7% but remain higher by 9.2% from 2009, while sales in the South dropped 15% and remain up 14.7% from a year ago. Sales in the closely watched Western region of the country declined slightly, by 2.7%, and remain higher by 21.4% from 2008.

Baton Rouge home prices drop

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.