FAIR WARNING: numbers, numbers & more numbers.....
After taking a look at the October sales and inventory numbers for Ascension Parish, I wanted to drill in a little bit deeper to better understand what is happening in the available inventory pool of homes. This analysis is based on a snapshot of the inventory available today - it will change tomorrow, the day after and so forth, but I think this information gives a nice picture of what is happening on the ground right now. I plan on refreshing this information each month and after I have a couple of months data, then I'll figure out a way to graph the trends that are occurring.
I think it is important - particularly if you are selling your home - that you understand how many other homes you are competing against in and around your price range....and have some general idea of how quickly or slowly other homes in your price range are selling.
As of November 10, 2010, there are 788 homes currently available for sale in Ascension Parish listed in the MLS. There is detail information listed in the chart below, but I want to highlight a couple of areas:
Price Segment Information
- 50% of all the homes available for sale are in the $150,000 - $249,999 price range
- 80% of all the homes available for sale are priced under $300,000
% of Homes on the Market for 160+ Days
- $100,000 - $149,999: 21% of available homes have been on the market for 160+ days
- $150,000 - $199,999: 30% of homes
- $200,000 - $249,999: 28% of homes
- $250,000 - $299,999: 33% of homes
The market has clearly slowed down, so I would counsel patience to the home sellers who have not yet sold their home. Competition is fierce and it is critical that you have done everything possible to make sure your home is in the best possible showing shape. The good news is that average home prices are quite steady - our homes are retaining their investment value.
LOTS and LOTS of numbers! If you have questions or would like to discuss them - I'd love to hear from you. If you'd like for me to run some more specific numbers for your subdivision - just give me a call at 225.287.9448 or send me an e-mail at Quinton@BatonRougeAreaHomes.com
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Click here if you'd like to view available inventory.
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