Capital Region home sales rebound in May

Home sales in metro Baton Rouge increased by 8.9 percent in May, rebounding after a sales drop in March and sluggish growth in April.

There were 910 home sales that closed in May in the nine-parish area, according to figures released Tuesday by the Greater Baton Rouge Association of Realtors.

That compares with 836 closed sales in May 2013.

The biggest monthly gainer was Livingston Parish, where sales were up 18.9 percent from 132 to 157. Ascension Parish had a 12.2 percent sales gain, from 147 sales in 2013 to 165.

Sales in East Baton Rouge Parish, the biggest market, were up by 1 percent in May, going from 492 to 497 over the year.

May’s activity comes after monthly home sales dropped by 13.5 percent in March, snapping a streak of 18 consecutive months of year-to-year sales increases. April saw home sales increase by a modest 1.4 percent, or 11 houses total.

The median sales price was up 1 percent from $173,500 to $175,250 last month.

The average number of days a home was on the market went from 92 in 2013 to 86 last month.

But the number of homes for sale fell 10.6 percent to 3,901. The supply in months was 5.3, compared with 6.4 in 2013.

The number of new listings on the market was down 1.2 percent from 1,249 in 2013 to 1,234.

Through the first five months of the year, there were 3,503 home sales in the metro area, compared with 3,406 through May 2013, a 2.8 percent increase.

Sales were up 7.5 percent in Livingston for the first five months of the year, going from 575 to 618. Ascension saw a 2.9 percent gain during the same period, coming in at 677 closed home sales compared with 658 in 2013. East Baton Rouge sales were down 2.1 percent through May, with 1,848 closed sales compared with 1,888 through May 2013.

Follow Timothy Boone on Twitter, @TCB_TheAdvocate.

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