Monthly Sales were 69 units. Comparison to last month: Decreased 25% from 92 units. Comparison to this month last year: Increase 13% from 60 Units.
Average Sold Price was $208,242. Comparison to last month: Increased 11% from $186,342. Comparison to this month last year: Increased % from $207,265.
Current Inventory is 8.85 months. Comparison to last month: Increased from 6.53 months. Comparison to this month last year: Decreased from 11.68 months.
Average Days on Market were 92. Comparison to last month: Increased from 67 days. Comparison to this month last year: Held steady at 92 days.
So what do all these numbers mean? The Average Sold Price is up due to some “long time homeowners” taking advantage of the $6,500 tax credit. There are some local move ups happening and that is driving the average sales prices up.
The monthly sales were down for January but that is not anything to worry about. January is historically a slow real estate month. I do anticipate a spike in number of sales in the next few months.
Remember, the tax credit expires on April 30, 2010. Purchasers must be under contract by this date and must close by June 30, 2010 to qualify for the credit.
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.