Real Estate Market

Baton Rouge Real Estate Market Trends

U.S. Market Data Review

Note: October data below is the most recent published by the National Association of Realtors®.

Data from the National Association of Realtors® (NAR) shows sales of existing homes grew in October to the briskest pace since early summer, but an ongoing lack of supply resulted in fewer closings for a second straight month.

Nationally, total sales of existing homes (counts completed transactions for single-family homes, townhomes, condominiums and co-ops) bumped up 2.0% to 5.48 million in October from 5.37 million in September. Despite the uptick in velocity, sales remain 0.9% lower than one year ago.

 Existing Home Sales By Region
NAR's chief economist, Lawrence Yun, indicated that October's sales activity picked up for the second consecutive month, with increases across all four major regions. "Job growth in most of the country continues to carry on at a robust level and is starting to slowly push up wages, which is in turn giving households added assurance that now is a good time to buy a home" Yun said. He added that "While the housing market gained a little more momentum last month, sales are still below year ago levels because low inventory is limiting choices for prospective buyers and keeping price growth elevated."

Housing Data Takeaways

  • The median existing-home price (all housing types) in October was $247,000, up 5.5% from October 2016 ($234,100). October's price increase marks 68th months in a row of year-over-year gains.
     
  • On average U.S. properties stayed on the market for 34 days in October, unchanged from September and down from 41 days a year ago. Forty-seven percent of homes sold in October were on the market for less than a month.
     
  • Mortgage data from Freddie Mac shows the average commitment rate for a 30-year, conventional, fixed-rate mortgage rose to 3.90% in October  from 3.81% in September. For all of 2016, the average commitment rate was 3.65%.
     
  • Nationally, first-time buyers drove 32% of October's sales, up from 29% in September but a drop from 33% one year ago.

Investing in Real Estate

Today's low interest rates and stabilized home prices have created some great investment opportunities!

Investing in real estate has unique advantages over other types of investments. Of course, wise investors may have various instruments in their portfolio, but real estate has a long-term track record of proving its worth.

Here are some of real estate investing's advantages:

  • Interest in mortgage loans are tax-deductible. Investors can lower their tax liability while increasing their equity.
  • Renters pay down your mortgage loan. Investors reap the benefits of rental income, which offsets your mortgage cost and build equity.
  • Real Estate values increase over the long term. Real Estate is limited and will always be in demand. 
  • 1031 exchanges are available to defer taxable income when you are ready to sell.

Many investors are taking advantage of these great market conditions. Have questions? Give us a call. We are happy to help!

Release Holiday Stress in One of Baton Rouge's Best B&Bs

Is the stress of the holidays getting to you already?  If so, the perfect way to unwind is the spend a weekend at one of Baton Rouge's B&Bs. And if you live in or near Baton Rouge, you don't have to deal with the stress of flying or driving a long distance.  No matter what your taste is, there's a bed and breakfast just for you.

Baton Rouge has some of the most outstanding bed and breakfasts you'll find anywhere.  Here's a few of the best bed and breakfasts in and around Baton Rouge.

The Stockade Bed and Breakfast

This relaxing retreat is set among the tree-lined neighborhoods of Baton Rouge on 11 acres and named after the Civil War stockades that used to be located here.  This historic B&B features 5 large suites, including a two-bedroom unit, all with private baths. You'll enjoy the peaceful grounds that have been certified as a Backyard Wildlife Habitat by the National Wildlife Federation. This B&B is also a perfect place to host an intimate wedding, showers, or small gatherings.

Barrow House Inn

Located in St. Francisville, this stylish B&B offers elegant suites accented with antiques of the age, so you’ll feel like you’re back in the mid-1800’s. But this bed and breakfast also offers modern touches, such as WI-FI and 1000 DVDs to choose from.  You’ll start your mornings off right with your choice of continental breakfast or local egg dishes.

Butler Greenwood

Relive the past in this historic antebellum plantation home.  The original family still owns this amazing home and the 8 cottages located on the grounds. You’ll be able to relax in the private baths, hot tubs, and more.

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
Glenda@GlendaDaughety.com

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