May 2021 Housing Market Update

I've been so encouraged by all the feedback, people that I've spoken to, and positive energy that I've been able to encounter recently with people who are interested in pursuing their homeownership goals. I've been recently invited to speak at a first-time homebuyer seminar with other real estate professionals towards the end of this month so please stay locked into my posts on social media everywhere @225avenues. I'm super excited to plan on talking about how you can find the home that you want and win in a market that is in the favor of sellers! I've just received my 2nd COVID shot, I just returned from a long and much-needed vacation with the family, and I've been chomping at the bit to get back into the daily ins and outs of the real estate world!  

Number of Home Available for Sale Comparision     

I was away in Orlando for the first week of this month and I was in an area that was terrible for internet service. I came back to check the stats on how the market was doing as far as the availability of homes and it's still trending in the same direction. In times like these, it's SUPER important as a buyer to have your ducks in a row because there aren't that many homes available for sale on the market so you have to be more than ready when searching for the home of your dreams.

 

Months Supply of Homes for Sale

 

I honestly never expected to see a market where there is less than a month and a half worth of inventory available for sale. If you look at the chart above, we've been in an absolute drop in the number of months that it would take to clear out all the homes available for sale. The month's supply is basically telling us how long it would take to sell all the homes that are on the market right now if we didn't put any new homes on the market. It's generally considered a healthy market here when the month's supply is between 3.5 to 4.5 months. 

 

Number of Closed Sales

I thought it would be good to give a perspective to show you how the market is doing in regards to closed transactions. If there aren't that many homes that are available on the market, are there many real estate transactions being closed? THE ANSWER IS YES! If you look at the number of homes that closed in April of 2019 prior to the pandemic, there has been a 25% increase in the number of closings. 


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!


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