December 2021 Housing Market Update

 

Happy holidays from the 225avenues.com family, I hope that this writing finds you in a happy place from a mental, physical, and emotional frame of mind standpoint! We're in full gear as we wrap up the year 2021. There have been many things that have gone on this year with the continuation of the pandemic but also growth from many people in other areas of their life. I've often found many people who are more open to finding other options for income such as real estate investments and it's been a challenge but also rewarding year in the real estate realm! Let's jump into the FINAL market update for 2021 and see where things stand for the Greater Baton Rouge market!


Number of Homes Available for Sale Comparision     

At the time of this writing, there are currently less than 1400 homes available for sale in the area which is a new historic low! I saw a report a few weeks ago that sourced REDFIN about the number of homes available. The article states that the Greater Baton Rouge Area has the fewest homes available for sale when comparing historical data with any of the other 400+ metro areas in the country! That's an amazing stat especially with the demand for quality housing and available buyers still being so high! I'm not sure if there's going to be a solution that is able to bring the market balance in the upcoming months, especially with the normal frenzy that we see happen in the spring season when the housing market usually warms up!
 

Months Supply of Homes for Sale

 

This may not be a surprise that because there are so few houses available for sale right now, the number of months that it would take to sell them if there weren't any additional houses put up for sale is also at a new historic low point. I honestly would not be surprised if this number drops below the one-month level over the next few months because it has continuously trended in that direction since the start of the pandemic! I often hear and see people posting online saying that they are predicting some huge influx of houses becoming available for sale for whatever reason and I'm here to tell you that the data just doesn't support this theory!
 

Average Price Per Sq Foot

I recently wrote THIS ARTICLE which gives an insight into one of my favorite real estate publications which are released annually in November. The NATIONAL ASSOCIATION OF REALTORS 2021 Profile of Buyers and Sellers does an amazing job with the stats and data in the report by giving you an understanding of what's important to TODAY'S home buyers and sellers. One of the stats that I wanted to highlight this month is how the price per square foot has historically grown nearly each and every year. I will oftentimes see the viewpoint that housing is just going to go down in some fashion but the statistical likelihood that we will see a price point of $150 per square foot as the average price point for a home is soon approaching us all!


As always, I want to make you aware that I've created a special website section where you can view interactive charts of historical data for the Greater Baton Rouge real estate market! I'm continuously striving to raise the bar for REALTORS® by providing quality communication, great customer service, combined with valuable information, data, and statistics for anyone who needs it! The charts and graphs in our Market Data Center are always live and updated automatically monthly. You can see the real stats for what's going on in the Greater Baton Rouge real estate market and not just take someone's word for it! You can check out the data and see what's going on in your area by clicking the button below!

If you would like to get in touch with me please feel free to text me (225) 330-7059 or you can schedule an initial consultation call HERE!

Please wear your mask and stay safe,
Rinaldi Jacobs Jr., e-PRO®, PSA
REALTOR® & Marketing eXpert
eXp Realty, LLC
2900 Westfork Dr, Ste 401
Baton Rouge, LA 70827
Office: 225-412-9982 ext 151
Direct: 225-330-7059
Rinaldi@225avenues.com
Licensed in Louisiana