September 2021 Housing Market Update

 

I am currently typing this as I'm at a family member's home because I'm still without power at my residence. I always take time to think of how grateful I am to have the small things in life that we take for granted seemingly every day. I hope that anyone who is able to read this is in a good, safe, place with their family and people who are important to them. We're Louisianimals so we'll shake back and be better than ever!


Number of Homes Available for Sale Comparision     

This is going to be one of the most interesting months that I think the area is going to have since the pandemic started in regards to the number of homes available for sale. Not only did some homes in the area suffer damage, but I'd also be interested to see if people are interested in relocating to a different area after considering what the area goes through after these storms. Will the storm cause more inventory to open up and come to the market, will we see more of what has been going on for the last few weeks, or will the supply become even LOWER with more people needing to move into a home due to circumstances?
 

Months Supply of Homes for Sale

 

This is one of my favorite REALTOR® analytical statistics by far. It generally gives a pretty good indication of whether we're heading towards buyers, sellers, or a balanced market. The indication right now is that it's stabilizing on the low side and isn't continuing to drop from an inventory standpoint. This could mean that the market will remain tough for buyers over the next 6 months or so until we head towards a more balanced market. There are still great homes, great deals, and great interest rates for borrowers right now. Don't let the difficulty of the home buying process stress you out or ruin the experience for you or your family!
 

Number of Closed Sales

I'm not sure how this number of closed sales will be impacted by the storm for the month of September. It may not have any effect at all as most homes that were under contract as still going to be able to be closed. It's people who are looking to go out in the market to find homes to buy who I think are going to be a bit hesitant. With gas lines being long, people are currently only moving around on a must-need basis. There is also going to be an influx of people from the southern part of Louisiana who will possibly be looking to move to Baton Rouge, similar to the rush we've seen in 2006. Things are always going to be interesting!

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