BATON ROUGE, La. (AP) — The number of homes sold in the Baton Rouge metro area rose 28 percent in April.
According to figures released by the Greater Baton Rouge Association of Realtors, 783 homes were sold in the eight-parish area, compared with 611 in April 2012.
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The median sales price was up 10 percent to $179,900. Median means half the homes sold for more and half for less than that price.
David McKey, broker/owner with Coldwell Banker One and president of the Louisiana Realtors Association, tells The Advocate (http://bit.ly/YO9xuf ) the recent trend of sellers pricing their homes more competitively has moved more homes, creating a natural upward pressure on prices.
“As the prices have started creeping back up, it’s a prime time to go out and buy real estate,” he said.
New listings were up 8 percent to 1,236, while pending sales were up 23 percent to 969. Pending sales have been on the rise since late last year, the MLS data show.
McKey said the only thing that could slow things down as buyers snap up more homes is lower inventories. Inventory continued to tighten in April, with 10 percent fewer homes on the market than there were 12 months before. The 3,938 homes represent 5.7 months of inventory at the current rate, compared with 7.6 months supply a year ago.
Among the major parishes during April, sales were up 22 percent in East Baton Rouge to 420 homes sold; up 49 percent in Ascension to 162 homes; and up 27 percent in Livingston to 136 homes.
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Information from: The Advocate, http://theadvocate.com
