Real Estate Market

Baton Rouge Real Estate Market Trends

U.S. Real Estate Overview

Note: September 2018 data below are the most recent released by the National Association of Realtors.

Existing-home sales declined in September after a month of stagnation in August, according to the National Association of Realtors®. All four major regions saw no gain in sales activity.

Total existing-home sales (transactions including single-family homes, townhomes, condominiums and co-ops) did not change from July and remained at a seasonally adjusted rate of 5.34 million in August. Sales are now down 1.5 percent from a year ago (5.42 million in August 2017).  

NAR's chief economist, Lawrence Yun says rising interest rates have led to a decline in sales across all regions of the country. “This is the lowest existing home sales level since November 2015,” he said. “A decade’s high mortgage rates are preventing consumers from making quick decisions on home purchases. All the while, affordable home listings remain low, continuing to spur under-performing sales activity across the country.”

The median existing-home price for all housing types in September was $258,100, up 4.2 percent from September 2017 ($247,600). September’s price increase marks the 79th straight month of year-over-year gains.

Total housing inventory at the end of September decreased from 1.91 million in August to 1.88 million existing homes available for sale, and is up from 1.86 million a year ago. Unsold inventory is at a 4.4-month supply at the current sales pace, up from 4.3 last month and 4.2 months a year ago.  

Properties typically stayed on the market for 32 days in September, up from 29 days in August but down from 34 days a year ago. Forty-seven percent of homes sold in September were on the market for less than a month. 

Per Freddie Mac data, the average commitment rate for a 30-year, conventional, fixed-rate mortgage increased to 4.63 percent in September from 4.55 percent in August. The average commitment rate for all of 2017 was 3.99 percent.

First-time buyers were responsible for 32 percent of sales in September, up from last month (31 percent) and a year ago (29 percent).

Seller Strategy

Selling your home in today's market requires strategy and execution. Here are some tips to help sellers reduce their time on market while getting excellent value:

  • Make it shine. Buyers are attracted to attractive homes. To make your home stand out, mow the lawn, rake the leaves, wash your windows, and clean the carpets. These small things can make a big difference.
     
  • Remove clutter. Not only do clean homes show better, but tidy homes offer more to the imagination. One person's treasure is another person's trash. Removing unnecessary clutter will help potential buyers envision their own potential for the home.
     
  • Consider removing art and personal keepsakes. This one is tough for certain people emotionally, but don't take it personally. Some savvy sellers go beyond de-cluttering and remove all (or most) of their personal artwork, family photos and personal mementos to make easier for potential buyers to imagine the home being theirs
     
  • Pay attention to the market. Work with your agent and price your home to sell. A competitively priced home is the one that sells first, and in this market that counts for a lot. Even in fast-moving markets in many parts of the United States, overpricing your home can lead to selling it for less or incurring greater holding costs than if you had priced the house appropriately in the first place. An experienced agent will help you arrive at the most advantageous price for your home.

These simple tips can help you sell your home and take advantage of our today's market. Please contact us if you have any questions about selling your home. We are here to help!

Savor the Flavor of These Top Baton Rouge Restaurants

If there's one thing that Baton Rouge is known for, it's the amazing restaurants that showcase the tantalizing flavors of the South.  You'll find the best Creole and Cajun food, along with local seafood, to be found anywhere in the South. If you plan on buying a home in Baton Rouge and can't get enough Southern food, then welcome home! Here's some of the top places in Baton Rouge to find your favorite local dishes.

Louisiana Lagniappe Restaurant

Rated as one of the top restaurants in Baton Rouge, Louisiana Lagniappe Restaurant has been a staple in the Baton Rouge dining scene since 1998. You'll enjoy amazing Southern dishes and an inviting atmosphere.  Start out with tasty appetizers like Chipotle Shrimp, Fried Crab Fingers, or Blackened Shrimp, then follow up with Laguiappe favorites such as Fresh Fish en Papillote or Barbecue Shrimp.

Sammy's Grill

Sammy's offers a relaxing atmosphere to watch a game and catch some of the best gumbo in Baton Rouge. You know it has to be good, as it's a popular spot with local Baton Rouge residents. If you're in the mood for alligator, poboys, pepper jack chicken, or other Southern favorites, Sammy's is the place.

The Chimes Restaurant & Tap Room

A local favorite for over 25 years, The Chimes offers a relaxed, family friendly experience. Their local dishes include Louisiana Alligator, Crabmeat-Stuffed Mushrooms, Fried Pickles, and an outstanding selection of beer to wash down your tasty meal.

Cou-Yons Bar-B-Q

For the best BBQ in Cajun Country, Cou-Yons Bar-B-Q is the place to go in Baton Rouge. Their casual and friendly atmosphere goes perfectly with the amazing food. They offer Cajun-inspired BBQ, seafood, stuffed baked potatoes, and salads.  They call it “5-star dining in a casual setting.” It’s the perfect place for a business lunch or just getting amazing food without all the fuss.

There are many other reason to call Baton Rouge home. Join us every week on our blog for more great reasons to call Baton Rouge home.  You can also search for your dream home now using our convenient home search tool. And make sure to follow us on Facebook for the latest real estate updates for Baton Rouge and the surrounding area.

 

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

 

All information and pictures on this website are copyright protected.

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

 

 

 

 

 

Quick Search

Listing Alerts

Be the first to know what's coming up for sale in the greater Baton Rouge real estate market with our New Property Listing Alerts!

Just tell us what you're looking for and we'll email a daily update of all homes listed for sale since your last update. You can unsubscribe at any time.

Get Notifications

Contact Us

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

Office: 225-291-1234
Cell: 225-205-2672
Glenda@GlendaDaughety.com

Contact Us Online