Monthly Sales were 91 units. Comparison to last month: Increased 3% from 88 units. Comparison to this month last year: Increase 11% from 81 Units.
Average Sold Price was $186,413. Comparison to last month: decreased 2% from $191,023. Comparison to this month last year: Decreased 10% from $207,090.
Current Inventory is 6.48 months. Comparison to last month: Holding steady from 7.05 months. Comparison to this month last year: Decreased from 8.92 months.
Average Days on Market was 67. Comparison to last month: decreased from 78 days. Comparison to this month last year: Decreased from 87 days.
So what do all these numbers mean? The Average Sold Price being down is again indicative of the type of buyers we are seeing. First time homebuyers are still fueling the market. The inventory is slowly being eaten up and homes are not sitting on the market as long. This is all great news in the recovery of the housing market. I feel as if we have hit the bottom and are on our way up. FHA has announced some changes that will not make the climb easy. But as the old fable goes…SLOW AND STEADY WINS THE RACE.
As I am sure you are aware, the tax credit has been extended to having an accepted contract in place by April 30, 2010 and closing by June 30, 2010. It has also been expanded to include “long time homeowners”. These homebuyers will receive $6,500 on a new purchase. For more information about these credits, click here.
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.