February 2022 Housing Market Update

 

We have entered into the month of February and the weather outside has truly made that apparent. I hope that you are able to find the people that you love and hold them tight even through and beyond the Valentine's Day holiday period. Speaking of 'Love', I am going to give you a special bonus this month with a video about the 3 biggest lies that you will be told this year about real estate. Now, some of these you'll hear from people who you know or are associated with, but if you hear any of them from a "professional" in the industry, I just want you to take heed and I'm going to explain why as well! Let's jump face-first into this month's market report!


Number of Homes Available for Sale Comparision     

At the time of this writing, there are currently right at about 1100 homes available for sale in the area which is a new historic low! As I said last month, every single time that I look at this number, I keep telling myself that there's no way that this number will be able to go any lower and it does. I am still encouraged to believe that we will see a rise in the number of homes available for sale over the next two to three months. I think the spring season will be kind to buyers compared to a baron winter home shopping season. The best homes will be swiped up quickly but I do believe many of the factors that had sellers reluctant to sell before have dissipated and there will be SLIGHTLY more options that come on the market soon!
 

Months Supply of Homes for Sale

 

For the first time that I can ever remember since we've been tracking this data, the number of months supply has dropped to below the one-month market for our market. I don't think this will last long and predict that as we round into the months of March and April that more homes will hit the market. I also am experiencing many motivated buyers reaching out to me at this time to be in a position to capitalize on the homes that become available. I suspect that the month's supply number that we have above may increase slightly but it won't be by much!
 

Median Number of Days on Market

I know that we are heading into the months when the market generally tends to see more activity for both buyers and sellers so I wanted to make sure that I provided a reasonable sense of what sort of expectations you can currently expect if you are looking to buy or sell a home. The chart above shows that the median number of days that homes are staying on the market for the area is currently 5 days. What that means is that from the time an agent activates a house in our MLS to show that it is available for sale; buyers get a chance to schedule to look at the home, agents write an offer on the home, and the seller chooses which offer (normally there are many) to accept takes a total timeframe of 5 days. This is why it's SUPER important for you to be proactive in your home search, and get aggressive with your offers on homes if you would like to be able to have your offer accepted!
 

FEBRUARY 2022 BONUS:

I wanted to give you a bit of extra love this month and provide you with a video highlighting what I feel are the 3 biggest lies that you'll hear about the real estate industry this year! You can check out this quick video by clicking HERE!



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!

If you would like to get in touch with me please feel free to text me (225) 330-7059 or you can schedule an initial consultation call HERE!

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