The market for detached single-family residential real estate in Greater Baton Rouge, LA has changed significantly in the last year. Since the start of January 2022, 30-year mortgage rates rose from 3.2% to 6.4% in January 2023. 
THE POINT: Home prices keep increasing because inventory in the most in demand zip codes keeps decreasing. The NAR 2023 Housing Forest for Baton Rouge forecast a 7.1% increase in 2023 home prices due to a 5.1% decline in inventory.
To put the January 2023 home sales facts below into perspective, review what has happened in a typical year and in each January. These stats show 2023 could be the lowest sales year since 2013.
The number of Greater Baton Rouge home sales by year from 2013 to 2023 YTD
2013 7809
2014 8145
2015 8860
2016 9617
2017 10071
2018 9600
2019 9922
2020 11261
2021 12337
2022 10360
2023 463
The number of Greater Baton Rouge home sales by year in January from 2013 to 2023 YTD
2013 Jan-13 431
2014 Jan-14 472
2015 Jan-15 477
2016 Jan-16 538
2017 Jan-17 663
2018 Jan-18 552
2019 Jan-19 518
2020 Jan-20 615
2021 Jan-21 778
2022 Jan-22 758
2023 Jan-23 463
2023 Janaury 2023 Greater Baton Rouge House Sales Stats:
Home sales are down 39% to only 435, down 19 months.
Inventory is UP 74%
Months Supply of Homes for Sale UP 136%
Pending Sales DOWN 34%
New Listings DOWN 12%
Median Listing Price UP 8%
Median Sold Price UP 7.5%
Median Sold Price Per SqFt UP 8.7%
Days On Market UP 32 Days or 800%
Homes Sell Between 99% to 100% Listing Prices
Dollar Volume PLUNGED 27%
Home sales have declined each month since June 2021 or for 19 months straight, June 2021 to January 2023. According to the data from GBRAR MLS, the following statistics were discovered. 
Inventory or Homes For Sale were 2,036 in January 2023 vs 1,167 in January 2022, UP 74%. The January 2023 pending sales were 612, which is DOWN 34% from the 925 in January 2022. The January 2023 median listing home price in Baton Rouge, LA was $259,800, which is up 8% year-over-year from January 2022 $240,500 (source Realtor.com). The January 2023 number of new listings was 818, which is DOWN 12% from the 930 in January 2022. The January 2023 median sold price was $267,750, which is up from 7.5% in January 2022 at $249,000. The January 2023 median sold price per square foot was $150, which is up 8.7% from $138 in January 2022. The homes in Greater Baton Rouge in January 2023 sell after a median of 36 days on the market, which is longer than 4 days in January 2022. The number of homes sold in January 2023 was only 435. which is down from 712 in January 2022, down 39%. The dollar sold volume plunged from $215,256,962 in January 2022 vs $156,860,717 in January 2023 or DOWN 27%. 
NOTE: Greater Baton Rouge includes East Baton Rouge, West Baton Rouge, Ascension, and Livingston Parishes or Counties. Home type DSF or detached single family, excluding townhomes, condos and manufactured.
NOTE: Some of these statistics are somewhat deceptive because inventory is still extremely low within the most in demand zip codes. I have seen an increase of listings of homes needing major repair (not in a foreclosure status). New construction demand for example, in the entire Ascension Parish, there are only 81 active listings of new construction. In Livingston Parish, there are only 118 new home active listings.
Zip Code, # of Sales, Zip Code Area
70726 59 Denham Springs, Livingston
70737 43 Gonzales, Ascension
70810 37 Baton Rouge, East Baton Rouge
70769 32 Prairieville, Ascension
70808 28 Baton Rouge, East Baton Rouge
70817 28 Baton Rouge, Shenandoah area, East Baton Rouge
70791 20 Zachary, Top School District in State, East Baton Rouge
70816 17 Baton Rouge, East Baton Rouge
70805 16 North Baton Rouge, East Baton Rouge
70815 14 Broadmoor, Sherwood Forest, East Baton Rouge
70462 10 Springfield, Campsites, Livingston
70814 9 North Baton Rouge (Park Forest, Monticello), East Baton Rouge
70820 9 Baton Rouge near LSU, East Baton Rouge
70706 9 Watson, North Denham Springs, Livingston
70809 9 Baton Rouge Jefferson Terrace area, East Baton Rouge
70806 8 Baton Rouge Tara, Mid-City, East Baton Rouge
70785 8 Walker, Livingston
70714 7 Baker, East Baton Rouge
70818 7 Central Community, East Baton Rouge
70754 6 Town of Livington, Livingston
70710 6 Addis, West Baton Rouge
70774 5 St Amant, Ascension
70802 5 Baton Rouge near downtown, East Baton Rouge
70767 5 Port Allen, West Baton Rouge 
https://www.gbrprelistingappraisals.com/
Data was used with permission of the Greater Baton Rouge Association of REALTORS/MLS from 1/1/2013 to 1/31/2023, extracted on 02/19/2023.
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