Monthly Sales were 153 units. Comparison to last month: Increased 16% from 128 units. Comparison to this month last year: Increased 25% from 115 Units.
Average Sold Price was $188,863. Comparison to last month: Decreased 13% from $216,252. Comparison to this month last year: Decreased 9% from $206,806.
Current Inventory is 4.45 months. Comparison to last month: Decreased from 5.14 months. Comparison to this month last year: Decreased from 5.46months.
Average Days on Market were 73. Comparison to last month: Decreased from 81 days. Comparison to this month last year: Decreased from 102 days.
So what do all these numbers mean? Many first time homebuyers were taking advantage of the tax credit. We will see lots of homes closing in the next month as well.
Remember, the tax credit expired on April 30, 2010 and those buyers have until June 30, 2010 to close on those homes. Knowing that, I wondered what the pending activity was for May. 93 properties in Ascension Parish went under contract compared to 120 in May of 2009. To show you how the tax credit helped stimulate sales, there were 177 homes to go under contract in the month of April 2010. That was a 47% drop in sales... Ouch! The medicated market will now take a few months to level out. Watch closely for the interesting times ahead.
These stats are for areas 90, 91 & 92 in Ascension Parish. Information used from Greater Baton Rouge MLS. They include only single family dwellings. Mobile home and land sales are not part of these numbers. If you would like information on either of these, feel free to let me know.
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