I'm working on an Azalea Lakes Baton Rouge LA 70817 home appraisal and realize I haven't reported on home sales numbers in quite a while. Azalea Lakes Baton Rouge Home Prices 2019
July 2018 vs July 2019 Azalea Lakes Subdivision Stats:
My search was filtered by 11-50 yrs old, 3 bedrooms, 1500sf or less and 1,501 to 2000sf based on the median size Azalea Lakes home is 1,600sf.
Median Sold Price: $135/sf, no change
Median Sold Price: $221,500, +5.5 percent
DOM (days on market): 14 days, down 67 percent, was 42 days in July 2018
Months Supply of available active listings: 2.6 months, down -3.7 percent
MLS Listings Are Selling For 98 percent of listing prices, down -0.6 percent
Sold Dollar Volume $5,288,200 up 18.7 percent (because prices are up)
Pending Sales at 23 are down 4.2 percent
Closed sales at 24 are down 14.3 percent
Revealing stats about how buyers are reacting to listings:
MLS Listings Showings to Pendings or Under Contract: 9, -28 percent (it takes fewer showings to sell a home)
Average Showings Per Listing: 4.7, down 21.7 percent (it takes fewer showings to sell a home)
It’s interesting while Baton Rouge home sales are slowing in Azalea Lakes 70817, as they are across Greater Baton Rouge, yet it takes fewer listings showings to sell a home.
Bill Cobb Appraiser
Data Source: GBRAR REALTORS/MLS from July 1, 2018 to July 31, 2019 extracted on 8/25/2019.