I wanted to post a snapshot of how the first half of 2009 compared with the first half of 2008. Take into account that in the first half of 2009 we had experienced the stock-market collapse, and banking debacle and the general deterioration of the economy. This makes for some interesting interpretation of these numbers.
Monthly sales in the first half of 2009 were 599 units. Up from 587 units in 2008.
The average monthly volume for the first six months of 2009 was $21,256,889. Down 5% from the first six months of 2008 at $22,245,384.
The average sales price in the first half of 2009 was $212,553. This was down 7% from $227,648 in 2008.
Average days on the market in the first half of 2009 was 100 days. This was only up a little from 97 days in the first half of 2008.
Average current inventory for the first of 2009 was 656 homes. This was down from 821 homes in 2008.
What does all of this mean? Here’s my take… We sold more homes the first part of 2009 than in 2008. In my opinion, this is great! The average sales price is down…yes. I attribute that to the fact that not a lot of the larger ($500,000 +) homes are selling. Take a few of those out of the equation and the average sales price goes down. We are still above $200,000 for average sales price. Not a lot of other states can say that. The current inventory is down…this means that there isn’t a lot to choose from for the buyers. If you have your home on the market. Make sure it is in great shape and priced well. Buyers don’t have the inventory of last year but they still have inventory to look at and compare to your home. I am personally experiencing buyers that want to move in and start living. They are not willing to spruce up/update/make repairs when they get in. It is taking all of the monies they have to get into their new home. They are passing over homes that need a little work for the ones that are in tip top shape.
Our numbers are a little down from last year. Are they devastating? Absolutely not! Remember to factor in the things happening in and around our area during these periods when you are interpreting the numbers for yourself. Ascension Parish housing market is still strong and I for-see it to continue to be strong and climb.
These stats are for areas 90,91 & 92 in Ascension Parish. They include the months of January – June for 2008 and 2009. Information was obtained 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.