Livingston Parish Real Estate Market Update - 1st Quarter 2008

Home prices are holding their own in Livingston parish. While the average price of a new home has risen about 4% from the 2007 average, the average price of a previously occupied home has remained essentially constant.

In terms of unit sales, Livingston parish has returned to pre-Katrina levels overall. The strength is attributable to homes in the re-sale market segment. New home sales are lagging somewhat.
Overall, there are more houses in inventory than demand for them especially in the higher price ranges.
Most of the demand for new houses is in the under $200K range which has accounted for 73% of new home sales in the parish. Nearly 47% of new home inventory, however, has list prices exceeding $200K making it a buyers market.
With respect to the re-sale market segment, there is a 6.6-month supply overall. Again, most of the demand is for homes priced under $200K and as prices exceed $200K there is over a year's supply of homes at the current absorption rates.

If you have any questions or you would like more detailed information, please feel free to contact me at (225)413-3624 or you can contact me via e-mail.

The preceding analysis was based upon data extracted from the Greater Baton Rouge Association of Realtors MLS database for detached single family homes currently on the market or sold between January 1, 2003 and March 31, 2008. The information provided is deemed reliable but is not guaranteed.

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As always, I welcome readers to visit my websites at www.DonAndAlishaStern.com, www.TheHomeVendor.com, www.LiveAscension.com or www.PelicanPointHomes.net for real estate information about and to search for homes within the Greater Baton Rouge area. Click here to search for homes.

Contact me via e-mail or call me at (225) 413-3624 for more information.

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