january 2018 market update

January 2018 Market Update for Ascension Parish and East Baton Rouge Parish

Ascension Parish

Ascension Parish is holding strong when comparing January 2018 to January 2017. The volume remained exactly the same, and the median sales price was down less than 1%. Not even enough to really report about. Median days on the market remained steady at only 14 days. Ascension Parish housing is healthy and we expect it to continue to be strong through 2018.

East Baton Rouge Parish

East Baton Rouge Parish had a Median Sales price of $232,900 in January which was up 22% from $180,500 from January of 2017. While that was great, the market showed a 42% decrease in homes sold in January 2017 to January 2018. Unlike, Ascension Parish, January 2017 still saw flooded/gutted properties on the market from the 2016 Flood. As the year closed and 2018 started, most of those types of properties have been scooped up by investors. Not having as many of these blighted properties in the market helped that median price range to rise. We believe as a whole; East Baton Rouge will continue to recover from the 2016 Flood and continue to also be a strong market through 2018. There is a good bit of high-end new construction and resales in area 5 such as The Preserve at Harveston and Settlement at Willow Grove.

As we prepare to enter the Spring market, things are picking up, and even though we are feeling a slight shift from a buyer’s market to a more balanced market, it is essential for buyers and sellers to be at the very top of their game because the competition is still fierce.

Hot Hoods

Interested in the neighborhoods that saw the most activity in January 2018?
Ascension Parish saw the most contracts in: Hidden Farms, Keystone, Point Andrew, Shadows at Manchac and Woodland Manor.
East Baton Rouge Parish saw the most contracts in: Azalea Lakes, Lexington Park, Rolling Meadow, Rose Gardens and Shenandoah Estates.

We look forward to reporting how 2018 has started off when we compare January and February in March of 2018. If you have any questions about the information provided, please don’t hesitate to give us a shout.

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