Professional Documents
Culture Documents
June 2014
Activity Snapshot
Housing seemed to have a slow start to the spring selling season, but
appearances deceive. Dig into that spring soil and you begin to unearth
differences in individual areas and market segments. Inventory is slowly rising in
some areas. Activity is picking up in the upper price tiers. Rents continue to
climb in most metros. And interest rates are generally lower than a year ago, to
the surprise of some and the delight of others.
New Listings in Greater Baton Rouge increased 12.9 percent to 1,333. Pending
Sales were up 34.9 percent to 1,039. Inventory levels shrank 8.8 percent to
4,017 units.
Prices forged onward. The Median Sales Price increased 4.8 percent to
$186,500. Days on Market remained flat at 81 days. Absorption rates improved
as Months Supply of Inventory was down 17.2 percent to 5.3 months.
Housing is one part of a broader ecosystem that thrives on a strong economy
that churns out good jobs. First-quarter employment figures were adequate but
not thrilling, but second-quarter numbers figure to be more positive. Access to
mortgage capital remains an ongoing concern. As cash and investor deals fade,
first-time buyers typically step to the forefront, but tight credit can and has been
a real hurdle.
+ 3.3%
+ 4.8%
- 8.8%
One-Year Change in
Closed Sales
One-Year Change in
Median Sales Price
One-Year Change in
Homes for Sale
Activity Overview
New Listings
Pending Sales
Closed Sales
Days on Market Until Sale
Median Sales Price
Average Sales Price
Percent of List Price Received
Housing Affordability Index
Inventory of Homes for Sale
Months Supply of Inventory
2
3
4
5
6
7
8
9
10
11
12
Current as of July 10, 2014. All data from the Greater Baton Rouge Association of REALTORS MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing.
Activity Overview
Key metrics by report month and for year-to-date (YTD) starting from the first of the year.
Key Metrics
Historical Sparkbars
New Listings
6-2011
6-2012
6-2013
6-2012
6-2013
6-2012
6-2013
6-2012
6-2013
6-2012
6-2013
6-2012
6-2013
6-2012
6-2013
6-2012
6-2013
6-2012
6-2013
6-2012
6-2013
- 1.9%
770
1,039
+ 34.9%
4,617
5,125
+ 11.0%
852
880
+ 3.3%
4,258
4,390
+ 3.1%
81
81
0.0%
92
88
- 4.3%
$177,900
$186,500
+ 4.8%
$172,900
$175,000
+ 1.2%
$203,750
$208,913
+ 2.5%
$197,420
$200,494
+ 1.6%
97.1%
97.6%
+ 0.5%
96.9%
97.1%
+ 0.2%
144
142
- 1.4%
148
152
+ 2.7%
4,405
4,017
- 8.8%
--
--
--
6.4
5.3
- 17.2%
--
--
--
6-2014
Months Supply
6-2011
6,989
6-2014
7,123
6-2014
Affordability Index
6-2011
+ 12.9%
6-2014
1,333
6-2014
1,181
Percent Change
6-2014
6-2014
Days on Market
6-2011
Percent Change
6-2014
Closed Sales
6-2011
6-2014
6-2014
Pending Sales
6-2011
6-2013
6-2014
Current as of July 10, 2014. All data from the Greater Baton Rouge Association of REALTORS MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 2
New Listings
A count of the properties that have been newly listed on the market in a given month.
June
Year to Date
1,333
1,181
1,115
+ 2.4%
2012
7,123
6,712
+ 5.9%
+ 12.9%
2013
+ 1.4%
6,989
+ 6.1%
2012
2014
New Listings
2013
- 1.9%
2014
Prior Year
Percent Change
July 2013
1,212
1,178
+2.9%
August 2013
1,179
999
+18.0%
September 2013
1,092
919
+18.8%
October 2013
1,070
1,072
-0.2%
November 2013
811
814
-0.4%
December 2013
670
608
+10.2%
January 2014
993
1,191
-16.6%
February 2014
1,005
1,023
-1.8%
March 2014
1,129
1,213
-6.9%
April 2014
1,280
1,266
+1.1%
May 2014
1,249
1,249
0.0%
June 2014
1,333
1,181
+12.9%
12-Month Avg
1,085
1,059
+2.5%
3,000
2,000
1,000
0
1-2003
1-2004
1-2005
1-2006
1-2007
1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
Current as of July 10, 2014. All data from the Greater Baton Rouge Association of REALTORS MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 3
Pending Sales
A count of the properties on which offers have been accepted in a given month.
June
Year to Date
Pending Sales
1,039
690
+ 7.6%
4,210
770
+ 11.6%
2012
+ 34.9%
2013
+ 22.7%
+ 9.7%
2012
2014
5,125
4,617
2013
+ 11.0%
2014
Prior Year
Percent Change
July 2013
786
767
+2.5%
August 2013
751
583
+28.8%
September 2013
610
582
+4.8%
October 2013
687
650
+5.7%
November 2013
573
538
+6.5%
December 2013
488
477
+2.3%
January 2014
669
606
+10.4%
February 2014
669
665
+0.6%
March 2014
845
875
-3.4%
April 2014
919
873
+5.3%
May 2014
984
828
+18.8%
June 2014
1,039
770
+34.9%
752
685
+9.8%
12-Month Avg
2,500
2,000
1,500
1,000
500
0
1-2003
1-2004
1-2005
1-2006
1-2007
1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
Current as of July 10, 2014. All data from the Greater Baton Rouge Association of REALTORS MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 4
Closed Sales
A count of the actual sales that closed in a given month.
June
Year to Date
772
+ 14.0%
880
852
Closed Sales
4,390
4,258
3,702
+ 10.4%
2012
+ 3.3%
2013
+ 18.9%
+ 15.0%
2012
2014
2013
+ 3.1%
2014
Prior Year
Percent Change
July 2013
839
721
+16.4%
August 2013
902
618
+46.0%
September 2013
730
698
+4.6%
October 2013
662
650
+1.8%
November 2013
588
557
+5.6%
December 2013
643
537
+19.7%
January 2014
523
479
+9.2%
February 2014
606
536
+13.1%
March 2014
656
758
-13.5%
April 2014
808
797
+1.4%
May 2014
917
836
+9.7%
June 2014
880
852
+3.3%
12-Month Avg
730
670
+9.0%
1,500
1,000
500
0
1-2003
1-2004
1-2005
1-2006
1-2007
1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
Current as of July 10, 2014. All data from the Greater Baton Rouge Association of REALTORS MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 5
June
Year to Date
91
81
- 11.0%
- 9.9%
2012
100
81
0.0%
2013
92
- 5.7%
88
- 8.0%
2012
2014
Days on Market
2013
- 4.3%
2014
Prior Year
Percent Change
July 2013
76
88
-13.6%
August 2013
78
104
-25.0%
September 2013
80
102
-21.6%
October 2013
85
95
-10.5%
November 2013
86
90
-4.4%
December 2013
79
86
-8.1%
January 2014
86
100
-14.0%
February 2014
94
99
-5.1%
March 2014
94
93
+1.1%
April 2014
92
91
+1.1%
May 2014
86
92
-6.5%
June 2014
81
81
0.0%
12-Month Avg*
84
93
-9.7%
* Average Days on Market of all properties from July 2013 through June 2014. This
is not the average of the individual figures above.
100
80
60
40
20
0
1-2003
1-2004
1-2005
1-2006
1-2007
1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
Current as of July 10, 2014. All data from the Greater Baton Rouge Association of REALTORS MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 6
June
$168,000
- 1.2%
2012
Year to Date
$186,500
$177,900
$164,985
+ 5.9%
+ 4.8%
2013
- 0.0%
+ 4.8%
2012
2014
$175,000
$172,900
+ 1.2%
2013
2014
Prior Year
Percent Change
July 2013
$176,650
$171,707
+2.9%
August 2013
$176,000
$170,700
+3.1%
September 2013
$169,900
$169,900
0.0%
October 2013
$170,858
$166,150
+2.8%
November 2013
$174,450
$172,900
+0.9%
December 2013
$179,500
$165,000
+8.8%
January 2014
$167,500
$162,000
+3.4%
February 2014
$164,950
$172,450
-4.3%
March 2014
$177,900
$168,048
+5.9%
April 2014
$171,443
$178,950
-4.2%
May 2014
$176,000
$173,500
+1.4%
June 2014
$186,500
$177,900
+4.8%
12-Month Med*
$175,000
$171,000
+2.3%
* Median Sales Price of all properties from July 2013 through June 2014. This is not
the average of the individual figures above.
$150,000
$100,000
$50,000
$0
1-2003
1-2004
1-2005
1-2006
1-2007
1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
Current as of July 10, 2014. All data from the Greater Baton Rouge Association of REALTORS MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 7
June
$191,762
- 1.8%
2012
Year to Date
$208,913
$203,750
$188,287
+ 6.3%
+ 2.5%
2013
- 1.8%
+ 4.9%
2012
2014
$200,494
$197,420
+ 1.6%
2013
2014
Prior Year
Percent Change
July 2013
$202,854
$194,814
+4.1%
August 2013
$202,850
$198,977
+1.9%
September 2013
$193,265
$197,728
-2.3%
October 2013
$197,266
$186,355
+5.9%
November 2013
$197,744
$205,357
-3.7%
December 2013
$203,204
$193,059
+5.3%
January 2014
$178,590
$174,690
+2.2%
February 2014
$193,480
$196,109
-1.3%
March 2014
$205,850
$194,552
+5.8%
April 2014
$200,839
$207,359
-3.1%
May 2014
$205,410
$197,982
+3.8%
June 2014
$208,913
$203,750
+2.5%
12-Month Avg*
$200,129
$196,696
+1.7%
* Average Sales Price of all properties from July 2013 through June 2014. This is
not the average of the individual figures above.
$200,000
$150,000
$100,000
$50,000
$0
1-2003
1-2004
1-2005
1-2006
1-2007
1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
Current as of July 10, 2014. All data from the Greater Baton Rouge Association of REALTORS MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 8
June
Year to Date
- 0.1%
97.6%
97.1%
96.6%
+ 0.5%
2012
+ 0.5%
2013
97.1%
96.9%
96.7%
0.0%
+ 0.2%
2012
2014
+ 0.2%
2013
2014
Prior Year
Percent Change
July 2013
96.7%
97.0%
-0.3%
August 2013
97.3%
97.0%
+0.3%
September 2013
97.3%
97.2%
+0.1%
October 2013
96.5%
96.4%
+0.1%
November 2013
96.7%
96.2%
+0.5%
December 2013
97.1%
96.5%
+0.6%
January 2014
96.8%
96.3%
+0.5%
February 2014
96.4%
97.2%
-0.8%
March 2014
97.1%
96.9%
+0.2%
April 2014
97.1%
96.8%
+0.3%
May 2014
97.4%
96.8%
+0.6%
June 2014
97.6%
97.1%
+0.5%
12-Month Avg*
97.0%
96.8%
+0.2%
* Average Pct. of List Price Received for all properties from July 2013 through June
2014. This is not the average of the individual figures above.
100%
99%
98%
97%
96%
95%
1-2003
1-2004
1-2005
1-2006
1-2007
1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
Current as of July 10, 2014. All data from the Greater Baton Rouge Association of REALTORS MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 9
June
Year to Date
Affordability Index
164
161
144
- 10.6%
+ 10.3%
2012
2013
- 1.4%
152
148
142
+ 9.3%
- 9.8%
2012
2014
2013
+ 2.7%
2014
Prior Year
Percent Change
July 2013
146
160
-8.8%
August 2013
145
160
-9.4%
September 2013
152
164
-7.3%
October 2013
151
166
-9.0%
November 2013
157
161
-2.5%
December 2013
145
170
-14.7%
January 2014
152
175
-13.1%
February 2014
157
160
-1.9%
March 2014
146
164
-11.0%
April 2014
151
157
-3.8%
May 2014
151
156
-3.2%
June 2014
142
144
-1.4%
12-Month Avg
150
150
0.0%
150
100
50
0
1-2003
1-2004
1-2005
1-2006
1-2007
1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
Current as of July 10, 2014. All data from the Greater Baton Rouge Association of REALTORS MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 10
June
4,692
4,405
4,017
- 8.8%
- 6.1%
- 9.0%
2012
2013
2014
Prior Year
Percent Change
July 2013
4,439
4,671
-5.0%
August 2013
4,439
4,656
-4.7%
September 2013
4,525
4,519
+0.1%
October 2013
4,526
4,467
+1.3%
November 2013
4,410
4,361
+1.1%
December 2013
4,160
4,033
+3.1%
January 2014
4,111
4,213
-2.4%
February 2014
4,131
4,270
-3.3%
March 2014
4,095
4,247
-3.6%
April 2014
4,138
4,291
-3.6%
May 2014
4,085
4,367
-6.5%
June 2014
4,017
4,405
-8.8%
12-Month Avg*
4,256
4,375
-2.7%
* Homes for Sale for all properties from July 2013 through June 2014. This is not
the average of the individual figures above.
5,000
4,000
3,000
2,000
1,000
0
1-2003
1-2004
1-2005
1-2006
1-2007
1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
Current as of July 10, 2014. All data from the Greater Baton Rouge Association of REALTORS MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 11
June
Months Supply
7.6
6.4
5.3
- 15.8%
- 25.5%
2012
- 17.2%
2013
2014
Prior Year
Percent Change
July 2013
6.5
7.4
-12.2%
August 2013
6.3
7.5
-16.0%
September 2013
6.4
7.2
-11.1%
October 2013
6.4
7.0
-8.6%
November 2013
6.2
6.8
-8.8%
December 2013
5.9
6.2
-4.8%
January 2014
5.8
6.4
-9.4%
February 2014
5.8
6.5
-10.8%
March 2014
5.7
6.4
-10.9%
April 2014
5.8
6.4
-9.4%
May 2014
5.6
6.4
-12.5%
June 2014
5.3
6.4
-17.2%
12-Month Avg*
6.0
6.7
-10.4%
* Months Supply for all properties from July 2013 through June 2014. This is not the
average of the individual figures above.
25
20
15
10
0
1-2003
1-2004
1-2005
1-2006
1-2007
1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
Current as of July 10, 2014. All data from the Greater Baton Rouge Association of REALTORS MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 12