Real Estate Market

Baton Rouge Real Estate Market Trends

Housing Report

Note: National Association of Realtors® (NAR) data below is from June (the most current national data)

National Association of Realtors® (NAR) data shows that sales of existing homes dipped in June owing to a low supply. While homes sold at a near record pace, activity ultimately ended up muted. Only the Midwest saw an increase in sales last month.

Total existing-home sales (measures completed transactions for single-family homes, townhomes, condominiums and co-ops) dropped 1.8% to 5.52 million in June from 5.62 million in May. Despite last month's decline, June's sales pace is 0.7 % higher than a year ago.

 Existing Home Sales By Region
NAR's chief economist, Lawrence Yun, indicated that the dip in contract activity in the prior three months translated to a pullback in existing sales in June. "Closings were down in most of the country last month because interested buyers are being tripped up by supply that remains stuck at a meager level and price growth that's straining their budget," Yun said. NAR's economist added, "The good news is that sales are still running slightly above last year's pace despite these persistent market challenges."

Housing Data Takeaways

  • June's median existing-home price for all U.S. housing types was $263,800, up 6.5% from June 2016 ($247,600). Last month's median sales price overtakes May as a new peak and represents the 64th straight month of year-over-year gains.
     
  • Total U.S. housing inventory at the end of June dropped 0.5% to 1.96 million existing homes available for sale, and is now 7.1% below a year ago (2.11 million) and has dipped year-over-year for 25 consecutive months. Unsold inventory nationally now offers a 4.3-month supply at the current sales velocity, which is down from 4.6 months a year ago.
     
  • First-time buyers drove 32% of sales in June, down from 33% both in May and one year ago. The annual share of first-time buyers for 2016 was 35%.
     
  • Freddie Mac data indicates the average commitment rate for a 30-year, conventional, fixed-rate mortgage fell for the third consecutive month, dipping to 3.90in % June from 4.01% in May. For all of 2016 the average commitment rate was 3.65%.

Make Your Offer Count!

Before making an offer on a home in today's competitive housing market, it is more important than ever for home buyers get their financial house in order when applying for a loan.

While there are online resources available that can provide a sense of one's overall financial position, be sure to review your credit report in person with your mortgage professional and get pre-approved for a loan before making an offer on a home.

A little preparation goes a long way and can make a big difference when it comes to closing on your dream home. Contact us today to get the right loan for your current needs!

Glenda and Her Team Get High Praise on Zillow!

Glenda Daughety and her team of dedicated real estate professionals have been helping people find their dream home in Baton Rouge for over 24 years. So many people have been thrilled with the experience they've had with Glenda that she's received a 4.9 out of 5 stars on Zillow! But that should come as no surprise to those who've had the pleasure of working with her and her team.

Here's some highlights of what people have to say about Glenda and her team:

"Glenda and her staff are consummate professionals - knowledgeable, thorough, enthusiastic, accessible and diligent. " - margaret coffey​

"We were so happy to have honest and experienced realtor professionals to help us when the time came to sell a piece of family property in another town. Glenda and Terry took the time to explain the different options available to us." - deannajbloodworth​

"So we had our house listed with another agent and had no traction, we switched to Glenda and the house sold in three days. Her team is wonderful. She is easy to work with and will work for you. We loved our experience with Glenda." - griffandabby​

This only scratches the surface of all the great things people are saying.  Read the reviews and see what all the excitement is about!

 

Contact Information

Photo of Glenda Daughety Real Estate
Glenda Daughety
RE/MAX First
4750 Sherwood Common Blvd
Baton Rouge LA 70816
225-205-2672
225-291-1234
Fax: 225-612-6422

 

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Glenda Daughety & Team
RE/MAX First
Office: 225-291-1234
Cell: 225-205-2672
4750 Sherwood Common Blvd
Baton Rouge, LA 70816
Each Office Independently Owned and Operated
Licensed Realtor in the State of Louisiana by the Louisiana Real Estate Commission



Glenda Daughety Michelle Copeland Ashley Daughety
Team Leader Buyer Specialist Buyer Specialist
Stager Decorator

 

 

 

 

 

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Our office is located at:
4750 Sherwood Common Blvd
Baton Rouge, LA 70816

Office: 225-291-1234
Cell: 225-205-2672
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