Baton Rouge Real Estate Market Conditions & Reports, Baton Rouge Market Trends, Louisiana

Market Commentary Provided by Linda Fredericks
If you can qualify, now is an exceptional time to buy a home in the Baton Rouge area. With the tax credit, good supply, and low interest rates, this is a great time to move. While interest rates have been rising the past couple of weeks they are still astronomically low if you look at interest rates over the past 40 years. Take advantage of this now to make that move! Contact us at 225-910-6284 to discuss your moving strategy.

Report Date

Fall 2009

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CONNECT WITH A LOCAL PROFESSIONAL

Linda Fredericks
Home After Home
Baton Rouge, Louisiana
225-603-9040
HouseHunting@LindaFredericks.com
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Nearest Metro Area

Baton Rouge

Buyers’ or Sellers’ Market

Equal buyers and sellers

Average Time on Market

60-90 days

Market Trend

Increasing

Housing Inventory

Good supply - Some Prices

Inventory Comments

The Baton Rouge market experienced a spike in 2005 after Hurricane Katrina. That spike in sales prices quickly dissipated, but we were left with several buyers in the market and rode the wave of home sales into 2006. In late 2008, Hurricane Gustav slowed homes sales to a dead stop while many people were fixing their own homes or homes that were on the market and were damaged were repaired. As we entered into 2009, a great deal of pent up demand emerged as people who had put off their move were once again ready. This coupled with low interest rates and the first time home buyer tax credit of $8000 has kept the market in Baton Rouge healthy throughout 2009. It's a great time to move whether buying or selling and there is ample, steady supply in the marketplace today.

Average Home Price

$175,000 - View Graph Trend

Best Selling Price Range

$200,000 - $249,000

Worst Selling Price Range

$1,000,000+

Compared to Last Year

No Change

Prices As % of Asking Price

95-100%

Multiple Offers?

Yes

Multiple Offers Commentary

Multiple offers are happening on appropriately priced homes. This is not the 'norm' of today's market but we have experienced this on several listings. Almost, equally as nice as multiple offers, we have also seen homes receiving offers acceptable to the sellers (or full price offers) within a week of the home being on the market.

Greatest Activity

First Time Buyers

Buyer Activity for the past 90 days in Baton Rouge is

Increasing

Seller Activity for the past 90 days in Baton Rouge is

No Change

Is Financing Available For Qualified Buyers in Baton Rouge?

Yes

Comments on Financing For Qualified Buyers

Financing really has not been a problem in the Baton Rouge area for qualified buyers. With the tightening of the financing market, we have seen the minimum requirements that define a buyer as 'qualified' increase. But financing is certainly readily available.

Existing Home Prices for the past 90 days are

Increasing

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales?

5-10%

Housing Hot Spots

Reason to Buy/Sell

Good economic news

Average Sold Price

$175,000 - View Graph Trend

National Real Estate Market

National Summary: National Housing Market Recovery Near?

Latest HouseHunt Random Survey Finds Encouraging Signs - First Time Buyers Taking Advantage of $8,000 Tax Credit

Like the legendary phoenix which rose renewed from its ashes, the U.S. housing market appears to be on the verge of emerging from the worst real estate market in three years. Several encouraging signs are there.

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