Baton Rouge Housing Market Analysis April 2023 Home Sales
The East Baton Rouge Louisiana real estate housing market between April 2022 and April 2023 experienced a decrease in new listings of 29% and a decrease in under contract properties by 26%. Closed sales or sold homes decreased by 27% during this period. It is important to note that the data for closed sales may have changed due to the rise in interest rates and the increase in the price of goods from April 2022 through today. The median sales price increased by 1.9%, from $264,888 to $270,000. The percent of original list price received decreased by 1.4%, and the average market time increased by 82%. The inventory of homes for sale at month-end increased by 55%. In April 2023, the Listing-to-Sales Price Ratio decreased to 97.6%. In other words, sellers received 2.4% less than listing price. 
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A More Detailed Breakdown of April 2023 Numbers
New Listings Decreased 29%:
In 2022, there were 767 new listings, but in 2023, the number decreased to 544, which is a 29.1% decrease. From January to April 2022, there were 2,634 new listings, while in the same period in 2023, there were 2,089, representing a 20.7% decrease.
Pending Sales (Listing Under Contract) Decreased 26%:
In 2022, there were 614 pending sales, but in 2023, the number decreased to 453, which is a 26.2% decrease. From January to April 2022, there were 2,371 pending sales, while in the same period in 2023, there were 1,734, representing a 26.9% decrease.
Sold Homes Decreased 27%:
In 2022, there were 598 closed sales, but in 2023, the number decreased to 437, which is a 26.9% decrease. From January to April 2022, there were 2,177 closed sales, while in the same period in 2023, there were 1,449, representing a 33.4% decrease.
Median Sales Price Increased 2%:
In 2022, the median sales price for homes was $264,888, and in 2023, it increased to $270,000, which is a 1.9% increase. From January to April 2022, the median sales price was $255,000, and in the same period in 2023, it increased to $259,900, which is a 1.9% increase.
Percent of List Price Received Decreased 1.4%:
In 2022, sellers received 99.3% of the list price, but in 2023, it decreased to 97.9%, which is a 1.4% decrease. From January to April 2022, sellers received 98.8% of the list price, and in the same period in 2023, it decreased to 97.6%, which is a 1.2% decrease.
Days on Market Until Sale Increased 82%:
In 2022, homes took an average of 33 days to sell, but in 2023, it increased to 60 days, which is an 81.8% increase. From January to April 2022, homes took an average of 36 days to sell, and in the same period in 2023, it increased to 64 days, which is a 77.8% increase.
Inventory of Homes for Sale Increased 55%:
In 2022, there were 759 homes for sale, and in 2023, the number increased to 1,175, which is a 54.8% increase.
Months Supply of Inventory Increased 115%:
In 2022, the months supply of inventory was 1.3, and in 2023, it increased to 2.8, which is a 115.4% increase.
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East Baton Rouge Pre-Listing Home Appraisals for FSBO or REALTORS®
The benefits of a Bill Cobb Listing Appraisal:
Market Supported Listing Price, including forecasting forward
Appraiser Measured Sketch or Floor Plan based on ANSI Standards
Room Dimensions labeled on Sketch
Verified Lot Size, Dimensions
Photo Note: I can take decent photos with iPhone 14 Pro Max. Most Agents prefer a local professional photographer for listing photos.
Baton Rouge Pre-Listing Home Appraisals
Baton Rouge Pre-Listing Home Appraisals
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Data was used with permission of the Greater Baton Rouge Association of REALTORS/MLS covering generally April 2022 vs April 2023. The ShowingTime report was released on May 17, 2023.
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