Monthly Sales were 95 units. Comparison to last month: Increased 26% from 70 units. Comparison to this month last year: Increase 8% from 87 Units.
Average Sold Price was $197,038. Comparison to last month: Decreased 5% from $207,896. Comparison to this month last year: Decreased 9% from $217,229.
Current Inventory is 6.34 months. Comparison to last month: Decreased from 8.91 months. Comparison to this month last year: Decreased from 7.95 months.
Average Days on Market were 90. Comparison to last month: Held steady at 91 days. Comparison to this month last year: Decreased at 109 days.
So what do all these numbers mean? The tax credit is fueling the first time homebuyers to make their leap into homeownership. This is indicative of the average sales price. The smaller homes are flying off the shelves!
Monthly sales are up due to the tax credit incentive as well. I predict that we will see monthly sales rise until the close deadline of June 30, 2010
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.