Livingston Parish Real Estate Market Update - July 2008

This report presents a comprehensive view of the real estate market for detached single-family homes in Livingston Parish. Historical and current data were obtained from the Greater Baton Rouge Association of Realtors MLS database. Data were extracted representing sales from January 1, 2003 through July 31, 2008. Only data for Detached Single Family homes were included in the analysis. Manufactured homes and multi-family dwellings are outside the scope of this analysis.

Livingston Parish Unit Sales

Home sales in both the new construction and re-sale market segments dropped in July. Normally we would expect to see an increase in home sales during July. I'll continue to monitor the situation closely.

The following chart illustrates how home sales in July of 2008 are below those during any of the previous five years.

Livingston Absorption

New homes under $200K are selling at a rate consistent with the inventory levels. In fact, in this lower price range it is a seller's market. Buyer's market conditions exist when prices exceed $250K where inventory levels are higher than the demand would suggest.

Overall, the situation is somewhat worse in the re-sale market segment where supply generally exceeds demand in all but the very lowest (under $150K) price ranges. The most active price ranges were under $200K where 52% of home sales were recorded.

Livingston Home Prices

Prices in Livingston parish continue to appreciate. New homes average just under $200K whereas homes in the re-sale segment averaged just over $164K during the first seven months of the year.

As always, readers are encouraged to contact me directly for more information or to make suggestions on how this information might be improved.

I welcome readers to visit my websites at www.TheHomeVendor.com or www.LiveAscension.com for real estate information about and to search for homes within the Greater Baton Rouge area. Click here to search for homes.

©2008 by Don Stern - all rights reserved