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May 2014
Activity Snapshot
Some have noted a slight pause in the housing recovery this year. The
American Dream of homeownership is alive and well, but it must still contend
with market fluctuations. Buyers need homes for sale if they're expected to buy
said homes. They also need reliable financing, better jobs and stronger wage
growth. The opportunities are out there. Now we need people to take advantage
of them.
New Listings in Greater Baton Rouge decreased 1.2 percent to 1,234. Pending
Sales were up 27.5 percent to 1,057. Inventory levels shrank 10.6 percent to
3,901 units.
Prices forged onward. The Median Sales Price increased 1.0 percent to
$175,250. Days on Market was down 6.5 percent to 86 days. Absorption rates
improved as Months Supply of Inventory was down 17.2 percent to 5.3 months.
We've had a mixed bag of economic news lately. As expected, national GDP
contracted slightly during Q1-2014, which most economists attribute to
impermanent factors like the harsh winter. We've now had more than four
straight years of monthly private sector job growth. It hasn't been extraordinary
growth, but it sure beats mass layoffs. Buoyed by an improving sales mix, home
prices continue their ascent despite erratic demand indicators. More inventory,
more high-skilled job growth, and less economic and political uncertainty are
still top priorities.
+ 8.9%
+ 1.0%
- 10.6%
One-Year Change in
Closed Sales
One-Year Change in
Median Sales Price
One-Year Change in
Homes for Sale
Activity Overview
New Listings
Pending Sales
Closed Sales
Days on Market Until Sale
Median Sales Price
Average Sales Price
Percent of List Price Received
Housing Affordability Index
Inventory of Homes for Sale
Months Supply of Inventory
2
3
4
5
6
7
8
9
10
11
12
Current as of June 10, 2014. All data from the Greater Baton Rouge Association of REALTORS MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing.
Activity Overview
Key metrics by report month and for year-to-date (YTD) starting from the first of the year.
Key Metrics
Historical Sparkbars
New Listings
5-2011
5-2012
5-2013
5-2012
5-2013
5-2012
5-2013
5-2012
5-2013
5-2012
5-2013
5-2012
5-2013
5-2012
5-2013
5-2012
5-2013
5-2012
5-2013
5-2012
5-2013
- 5.3%
829
1,057
+ 27.5%
3,850
4,214
+ 9.5%
836
910
+ 8.9%
3,406
3,503
+ 2.8%
92
86
- 6.5%
94
90
- 4.3%
$173,500
$175,250
+ 1.0%
$170,886
$172,415
+ 0.9%
$197,982
$203,393
+ 2.7%
$195,838
$197,847
+ 1.0%
96.8%
97.4%
+ 0.6%
96.8%
97.0%
+ 0.2%
156
151
- 3.2%
159
154
- 3.1%
4,362
3,901
- 10.6%
--
--
--
6.4
5.3
- 17.2%
--
--
--
5-2014
Months Supply
5-2011
5,628
5-2014
5,942
5-2014
Affordability Index
5-2011
- 1.2%
5-2014
1,234
5-2014
1,249
Percent Change
5-2014
5-2014
Days on Market
5-2011
Percent Change
5-2014
Closed Sales
5-2011
5-2014
5-2014
Pending Sales
5-2011
5-2013
5-2014
Current as of June 10, 2014. All data from the Greater Baton Rouge Association of REALTORS MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 2
New Listings
A count of the properties that have been newly listed on the market in a given month.
May
Year to Date
1,249
1,218
+ 9.3%
1,234
+ 2.5%
2012
- 1.2%
2013
5,942
5,597
+ 1.2%
5,628
+ 6.2%
2012
2014
New Listings
- 5.3%
2013
2014
Prior Year
Percent Change
June 2013
1,181
1,115
+5.9%
July 2013
1,212
1,178
+2.9%
August 2013
1,179
999
+18.0%
September 2013
1,086
919
+18.2%
October 2013
1,066
1,072
-0.6%
November 2013
810
814
-0.5%
December 2013
668
608
+9.9%
January 2014
992
1,191
-16.7%
February 2014
1,001
1,023
-2.2%
March 2014
1,127
1,213
-7.1%
April 2014
1,274
1,266
+0.6%
May 2014
1,234
1,249
-1.2%
12-Month Avg
1,069
1,054
+1.4%
3,000
2,000
1,000
0
1-2003
1-2004
1-2005
1-2006
1-2007
1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
Current as of June 10, 2014. All data from the Greater Baton Rouge Association of REALTORS MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 3
Pending Sales
A count of the properties on which offers have been accepted in a given month.
May
Year to Date
1,057
4,214
3,850
3,520
829
764
+ 19.2%
Pending Sales
+ 8.5%
2012
+ 27.5%
2013
+ 26.1%
+ 9.4%
2012
2014
+ 9.5%
2013
2014
Prior Year
Percent Change
June 2013
770
690
+11.6%
July 2013
786
767
+2.5%
August 2013
752
583
+29.0%
September 2013
610
582
+4.8%
October 2013
687
650
+5.7%
November 2013
575
539
+6.7%
December 2013
488
478
+2.1%
January 2014
672
607
+10.7%
February 2014
673
665
+1.2%
March 2014
862
876
-1.6%
April 2014
950
873
+8.8%
May 2014
1,057
829
+27.5%
740
678
+9.1%
12-Month Avg
2,500
2,000
1,500
1,000
500
0
1-2003
1-2004
1-2005
1-2006
1-2007
1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
Current as of June 10, 2014. All data from the Greater Baton Rouge Association of REALTORS MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 4
Closed Sales
A count of the actual sales that closed in a given month.
May
Year to Date
910
836
3,503
3,406
737
+ 26.2%
Closed Sales
2,930
+ 13.4%
2012
+ 8.9%
2013
+ 20.3%
+ 16.2%
2012
2014
2013
+ 2.8%
2014
Prior Year
Percent Change
June 2013
852
772
+10.4%
July 2013
839
721
+16.4%
August 2013
902
618
+46.0%
September 2013
730
698
+4.6%
October 2013
662
650
+1.8%
November 2013
587
557
+5.4%
December 2013
643
537
+19.7%
January 2014
523
479
+9.2%
February 2014
606
536
+13.1%
March 2014
656
758
-13.5%
April 2014
808
797
+1.4%
May 2014
910
836
+8.9%
12-Month Avg
727
663
+9.7%
1,500
1,000
500
0
1-2003
1-2004
1-2005
1-2006
1-2007
1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
Current as of June 10, 2014. All data from the Greater Baton Rouge Association of REALTORS MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 5
May
Year to Date
103
99
92
2012
94
86
- 7.1%
- 10.8%
- 6.5%
2013
- 3.7%
90
- 8.7%
2012
2014
Days on Market
2013
- 4.3%
2014
Prior Year
Percent Change
June 2013
81
91
-11.0%
July 2013
76
88
-13.6%
August 2013
78
104
-25.0%
September 2013
80
102
-21.6%
October 2013
85
95
-10.5%
November 2013
86
90
-4.4%
December 2013
79
86
-8.1%
January 2014
86
100
-14.0%
February 2014
94
99
-5.1%
March 2014
94
93
+1.1%
April 2014
92
91
+1.1%
May 2014
86
92
-6.5%
12-Month Avg*
84
94
-10.6%
* Average Days on Market of all properties from June 2013 through May 2014. This
is not the average of the individual figures above.
100
80
60
40
20
0
1-2003
1-2004
1-2005
1-2006
1-2007
1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
Current as of June 10, 2014. All data from the Greater Baton Rouge Association of REALTORS MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 6
May
Year to Date
$170,000
+ 2.5%
2012
$173,500
$175,250
+ 2.1%
$164,000
+ 1.0%
2013
- 0.6%
+ 4.2%
2012
2014
$172,415
$170,886
+ 0.9%
2013
2014
Prior Year
Percent Change
June 2013
$177,900
$168,000
+5.9%
July 2013
$176,650
$171,707
+2.9%
August 2013
$176,000
$170,700
+3.1%
September 2013
$169,900
$169,900
0.0%
October 2013
$170,858
$166,150
+2.8%
November 2013
$174,000
$172,900
+0.6%
December 2013
$179,500
$165,000
+8.8%
January 2014
$167,500
$162,000
+3.4%
February 2014
$164,950
$172,450
-4.3%
March 2014
$177,900
$168,048
+5.9%
April 2014
$171,443
$178,950
-4.2%
May 2014
$175,250
$173,500
+1.0%
12-Month Med*
$174,600
$170,000
+2.7%
* Median Sales Price of all properties from June 2013 through May 2014. This is not
the average of the individual figures above.
$150,000
$100,000
$50,000
$0
1-2003
1-2004
1-2005
1-2006
1-2007
1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
Current as of June 10, 2014. All data from the Greater Baton Rouge Association of REALTORS MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 7
May
Year to Date
$196,757
+ 0.7%
2012
$197,982
$203,393
+ 0.6%
$187,372
+ 2.7%
2013
- 1.8%
+ 4.5%
2012
2014
$197,847
$195,838
+ 1.0%
2013
2014
Prior Year
Percent Change
June 2013
$203,750
$191,762
+6.3%
July 2013
$202,854
$194,814
+4.1%
August 2013
$202,850
$198,977
+1.9%
September 2013
$193,265
$197,728
-2.3%
October 2013
$197,266
$186,355
+5.9%
November 2013
$197,549
$205,357
-3.8%
December 2013
$203,204
$193,059
+5.3%
January 2014
$178,590
$174,690
+2.2%
February 2014
$193,480
$196,109
-1.3%
March 2014
$205,850
$194,552
+5.8%
April 2014
$200,839
$207,359
-3.1%
May 2014
$203,393
$197,982
+2.7%
12-Month Avg*
$199,370
$195,463
+2.0%
* Average Sales Price of all properties from June 2013 through May 2014. This is
not the average of the individual figures above.
$200,000
$150,000
$100,000
$50,000
$0
1-2003
1-2004
1-2005
1-2006
1-2007
1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
Current as of June 10, 2014. All data from the Greater Baton Rouge Association of REALTORS MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 8
May
Year to Date
97.1%
+ 0.2%
97.4%
96.8%
- 0.3%
2012
+ 0.6%
2013
97.0%
96.8%
96.8%
+ 0.1%
0.0%
2012
2014
+ 0.2%
2013
2014
Prior Year
Percent Change
June 2013
97.1%
96.6%
+0.5%
July 2013
96.7%
97.0%
-0.3%
August 2013
97.3%
97.0%
+0.3%
September 2013
97.3%
97.2%
+0.1%
October 2013
96.5%
96.4%
+0.1%
November 2013
96.7%
96.2%
+0.5%
December 2013
97.1%
96.5%
+0.6%
January 2014
96.8%
96.3%
+0.5%
February 2014
96.4%
97.2%
-0.8%
March 2014
97.1%
96.9%
+0.2%
April 2014
97.1%
96.8%
+0.3%
May 2014
97.4%
96.8%
+0.6%
12-Month Avg*
97.0%
96.8%
+0.2%
* Average Pct. of List Price Received for all properties from June 2013 through May
2014. This is not the average of the individual figures above.
100%
99%
98%
97%
96%
95%
1-2003
1-2004
1-2005
1-2006
1-2007
1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
Current as of June 10, 2014. All data from the Greater Baton Rouge Association of REALTORS MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 9
May
Year to Date
158
156
151
- 1.3%
+ 6.8%
2012
164
- 3.2%
2013
159
+ 10.1%
154
- 3.0%
2012
2014
Affordability Index
2013
- 3.1%
2014
Prior Year
Percent Change
June 2013
144
161
-10.6%
July 2013
146
160
-8.8%
August 2013
145
160
-9.4%
September 2013
152
164
-7.3%
October 2013
151
166
-9.0%
November 2013
157
161
-2.5%
December 2013
145
170
-14.7%
January 2014
152
175
-13.1%
February 2014
157
160
-1.9%
March 2014
146
164
-11.0%
April 2014
151
157
-3.8%
May 2014
151
156
-3.2%
12-Month Avg
150
150
0.0%
150
100
50
0
1-2003
1-2004
1-2005
1-2006
1-2007
1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
Current as of June 10, 2014. All data from the Greater Baton Rouge Association of REALTORS MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 10
May
4,701
4,362
3,901
- 10.6%
- 7.2%
- 9.8%
2012
2013
2014
Prior Year
Percent Change
June 2013
4,400
4,692
-6.2%
July 2013
4,434
4,671
-5.1%
August 2013
4,433
4,656
-4.8%
September 2013
4,513
4,519
-0.1%
October 2013
4,509
4,467
+0.9%
November 2013
4,390
4,360
+0.7%
December 2013
4,138
4,031
+2.7%
January 2014
4,085
4,210
-3.0%
February 2014
4,096
4,267
-4.0%
March 2014
4,040
4,243
-4.8%
April 2014
4,044
4,287
-5.7%
May 2014
3,901
4,362
-10.6%
12-Month Avg*
4,249
4,397
-3.4%
* Homes for Sale for all properties from June 2013 through May 2014. This is not
the average of the individual figures above.
5,000
4,000
3,000
2,000
1,000
0
1-2003
1-2004
1-2005
1-2006
1-2007
1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
Current as of June 10, 2014. All data from the Greater Baton Rouge Association of REALTORS MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 11
May
Months Supply
7.7
6.4
5.3
- 16.9%
- 27.4%
2012
- 17.2%
2013
2014
Prior Year
Percent Change
June 2013
6.4
7.6
-15.8%
July 2013
6.5
7.4
-12.2%
August 2013
6.3
7.5
-16.0%
September 2013
6.4
7.2
-11.1%
October 2013
6.4
7.0
-8.6%
November 2013
6.2
6.8
-8.8%
December 2013
5.8
6.2
-6.5%
January 2014
5.7
6.4
-10.9%
February 2014
5.7
6.5
-12.3%
March 2014
5.7
6.4
-10.9%
April 2014
5.6
6.4
-12.5%
May 2014
5.3
6.4
-17.2%
12-Month Avg*
6.0
6.8
-11.8%
* Months Supply for all properties from June 2013 through May 2014. This is not
the average of the individual figures above.
25
20
15
10
0
1-2003
1-2004
1-2005
1-2006
1-2007
1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
Current as of June 10, 2014. All data from the Greater Baton Rouge Association of REALTORS MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 12