June 2009 Market Snapshot

Housing Graph

Ascension Parish Market Stats for June 2009

Monthly sales were 126  units. Comparison to last month: Increase 9%  from 115 units.  Comparison to this month last year: Increase 14% from 108 Units.

Average Sold price was $218,770.  Comparison to last month:  Increased  4% from $210,806.  Comparison to this month last year: Decreased 4% from $227,809.

Current inventory is 4.70 months.  Comparison to last month:  Decreased from 5.29 months.  Comparison to this month last year: Decreased from 7.71months. 

 Average Days on market were 96.  Comparison to last month:  Decreased from 102 days.  Comparison to this month last year: Decreased from 98 days.

 

What does this mean to you as a homeowner?  The number of units sold are up and the current inventory is down.  Houses are moving!  There was a decrease from last year in the average sales price and again,  I attribute that to a correction in the market from the inflated “Hurricane Katrina” sales.  I also attribute the lower average sales price to homebuyers buying homes in a lower square footage range.  The “McMansions” are not as trendy as they used to be.  The average days on the market are in line with last year…this is good, homes are not sitting on the market for an indefinite amount of time.

What does this mean to you as a homebuyer?  It is a great time to buy.  If you are looking to purchase a home and stay there for at least 3 years…now is the time!  Rates are low and if you are a first time homebuyer, the government is offering you a true $8,000 tax credit!

 Having said that, I have a good feeling for our real estate economy. I predict that home sales will continue to rise and values will also rise in the fashion they are intended to. (You know I have the magic crystal ball!)

These stats are for areas 90,91 & 92 in Ascension Parish. Information used from Greater Baton Rouge MLS.  They include only single family dwellings.  Mobile home and land sales are not part of these numbers.  If you would like information on either of these, feel free to let me know.

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