June 2022 Housing Market Update

 

Step outside of your door this June and IT IS HOT!!! So is the real estate market locally in the Metro Baton Rouge area. I also wanted to do things a little bit differently for this month's market report! Not only am I going to give you the regular version of the monthly report! I'm also going to present a video version for you to watch as well! This will give you the opportunity to get the area's market information in whichever form you feel will fit you better! I also have some great news for buyers after looking at this month's numbers and I'll give you a prediction on what I think will happen for the market moving forward through the summer.

Number of Homes Available for Sale Comparision     

The number of homes available for sale are increasing to the point that buyers will be happy to have more options available to purchase as we are in the midst of the busiest season for real estate transactions of the year. I also am positive to see the number of houses that are available for the buyers in the area has increased over the last few months. I still feel that it will take about a two-year timeframe for the market to balance out to be an even field for both buyers and sellers. 

 

Months Supply of Homes for Sale

 

In February,  I talked about how the inventory was at an all-time low. I  still think that we're a very long way away from getting to a more balanced market in the 3.5 - 4.5 months range for the month's supply. Having a two-month increase in the number of homes available for sale even though many homes are still being snatched up within days of being put on the market is a good sign for buyers, even if it's just to know that they'll have multiple options of homes available to purchase and put offers on.


 

Median Days on the Market

I wanted to take a new look at how long homes are staying on the market. I want you to understand how important this is for the buyers in the market. This shows how long a home is on the market from the time that a REALTOR® makes it active in the MLS to when the REALTOR® marks the home as being under contract. At this time, there is a total of 3 median days that a home is staying on the market. This is why it is VERY IMPORTANT for you as a buyer to get alerts to view a home as soon as it comes on the market. It is only taking 3 days for a home to come on the market, have people schedule to view the home, get inside to take a look at it, have their agent write up an offer on it, and have the seller review and accept one of the offers on the home. THAT'S NO TIME AT ALL for a buyer in a competitive market. Be patient and aggressive whenever you make the decision to view homes in the current market!

SPRING  & Summer 2022 BONUS CONTENT:

I wanted to show love during the spring season, so I made this 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!

These summer months are going to be hectic for buyers! I have a little something to make the home buying process a bit easier for you though! I have a 'Smart Homebuyers Guide' for you to read and it's FREE! Get my SHG 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, and 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