August 2021 Housing Market Update

 

You know that summer is winding down when it's time to go shopping for school clothes and you're scheduled for meet the teacher gatherings! Welcome to August and the 225avenues.com monthly Housing Market Update! I'm hoping for a ton less rain in the upcoming month as July seemed to force us to dodge raindrops daily. I was fortunate enough to have some amazing client interactions and meet some really nice families. I hope that everyone that you care about is well and safe! Let's get right into it with this month's update!

Number of Home Available for Sale Comparision     

After all of the concerns that I've had for the last year and a half or so on the stability and balance of the housing market, it appears that for the first time in over a year that the market may be starting to balance back out. The number of homes that are available for sale has either evened out from where they were the previous month or gone up slightly. This is a great sign for buyers and an indication that I'm giving my interested sellers that RIGHT NOW may be the time to maximize their home's potential sellability before the market trend shifts. I watch this number on a weekly and daily basis as well so I've had my eye on it for a while.
 

Months Supply of Homes for Sale

 

The monthly supply of homes is also giving an indication of stabilizing. The numbers over the last three months are nearly identical which is a good sign for buyers. The market is still VERY MUCH in the favor of sellers because the number of homes available is still lower than normal. However, it appears that the market is opening up a little bit compared to previous months as the number of homes over the last few weeks is slowly growing or staying the same. 
 

Number of Closed Sales

I've been covering different statistics even covering the Median Days on the market for the last few updates. I wanted to take time out this month to see how the number of sales closed over the last three years stacked up. Homes are selling in a higher total volume than we were at pre-pandemic conditions. Things typically trail off slightly after the month of July historically so we can check again to see how the market stacks up in the coming months!

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