January 2022 Housing Market Update

 

Happy New Year as we take a dive headfirst into 2022 with this month's real estate market report! I hope that things have been well for you and your family coming out of the holiday season as most people try to get back into a normal routine after the festive season. As always, I am grateful to be able to still be in a position to put out these market reports, and more importantly, having the chance to spend time with the friends and family members who I enjoy their company, was the most important thing for me as I wrapped up the year. Many people take the last week or two of the year to set their goals for the new year and create a resolution of sorts. If real estate is included in your new year plans, I hope this jump starts you down the right avenue to success! Let's jump right into it...

Number of Homes Available for Sale Comparision     

At the time of this writing, there are currently right at about 1200 homes available for sale in the area which is a new historic low! Every single time that I look at this number, I keep telling myself that there's no way that this number will be able to go any lower and it does. I do think that we will see a rise in the number of homes available for sale over the next two months as we get into what is traditionally one of the busiest times of the year which is the spring selling season. The general line of thinking that comes to me is that the homes will be available but the good ones will come off the market fast just as they have over the last two years!
 

Months Supply of Homes for Sale

 

ONE MONTH! That is the level that the market has dropped to. There is only one month's worth of housing inventory available for the entire MLS in the Greater Baton Rouge marketplace. There are often people who tell me or post things online saying that in 2022 the housing market is going to make some sort of crazy reverse to where a huge influx of homes is going to be available. I just don't see that happening, plus in addition to that, I think that the pricing of homes is going to stay about the same for the next two years at least. That would be my outstanding prediction as we head into 2022!
 

Average Price Per Sq Foot

I spoke on this stat last month about how the price per square foot for the area hasn't changed much since May of 2021. It's basically hovered pretty consistently around that number for well over six months. So when I'm asked why people should still buy a home in 2022 there are two main reasons. The first is that this market has NEVER gotten really crazy with pricing to a point where you're going to see some big market crash. The second reason is when you go to purchase a home, the biggest VALUE that you're getting right now is the affordability of what you're paying a month due to the EXTREMELY LOW interests rates. I'm having clients quoted at 2.5% which is insanely good!


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