Pace of sales pick up in February; median price, inventory decline
Home sales in metro Baton Rouge were up 10.6 percent in January, thanks to strong sales in Livingston Parish.
There were 593 home sales that closed in February in the nine-parish area, according to figures released Tuesday by the Greater Baton Rouge Association of Realtors.
That compares with 536 closed sales in February 2013. Through the first two months of the year, Capital Region home sales are up 10.1 percent, from 1,014 to 1,116.
Sales in Livingston Parish were up for February by more than 20 percent, from 83 to 100 over the year. East Baton Rouge Parish also saw a sales gain, going from 282 closed sales in February 2013 to 304.
Ascension Parish saw a modest 2.4 percent decrease, from 125 sales in February 2013 to 122.
February was the 18th consecutive month there was a local year-to-year increase in area home sales.
Pending sales in the metro area were up 16 percent over 2013, from 668 to 775.
The median sales price in the area was down 3.8 percent, from $172,450 in 2013 to $165,900 last month.
Homes in the metro area continued to come off the market at a faster pace.
The average number of days a home was on the market in February was 95, down from 99 the year before. The inventory of homes continued to shrink, thanks to the bustling market.
There were 3,820 homes listed in February, down 9.7 percent from the year before. The supply in months was 5.2, compared with 6.5 in 2013.
It may take longer to boost the inventory of homes. The number of new listings on the market was down nearly 5 percent, from 1,023 in February 2013 to 975.