Professional Documents
Culture Documents
January 2014
Activity Snapshot
The same factors that catalyzed widespread market recovery in 2012 and 2013
are likely to continue in 2014, though perhaps at a more moderate pace. That's
not a bad thing, since the market is returning to a stable, healthy state. Potential
trends to watch for in 2014 include increased seller activity, more new
construction and fewer foreclosures on the market. Inventory is another metric
to watch this year.
New Listings in Greater Baton Rouge decreased 18.2 percent to 973. Pending
Sales were up 26.7 percent to 774. Inventory levels shrank 8.9 percent to 3,806
units.
Prices marched higher. The Median Sales Price increased 4.0 percent to
$168,500. Days on Market was down 14.0 percent to 86 days. Absorption rates
improved as Months Supply of Inventory was down 18.8 percent to 5.2 months.
Given how far the market has come, it's a good time for folks to reassess their
situation. Many who were hesitant to sell in recent years may find themselves in
a completely different position. Getting a fresh comparative market analysis
might be a good idea. Interest rates remain attractive and should remain below
their long-term average, but they are expected to creep higher in 2014.
Politicians are gearing up for midterm elections, so pay close attention to
campaign messaging as relates to real estate or mortgage financing. Job
growth is still fundamental and is likely to dominate this election cycle.
+ 8.6%
+ 4.0%
- 8.9%
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 February 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
1-2011
1-2012
1-2013
1-2012
1-2013
1-2012
1-2013
1-2012
1-2013
1-2012
1-2013
1-2012
1-2013
1-2012
1-2013
1-2012
1-2013
1-2012
1-2013
1-2012
1-2013
- 18.2%
611
774
+ 26.7%
611
774
+ 26.7%
478
519
+ 8.6%
478
519
+ 8.6%
100
86
- 14.0%
100
86
- 14.0%
$162,000
$168,500
+ 4.0%
$162,000
$168,500
+ 4.0%
$174,675
$178,835
+ 2.4%
$174,675
$178,835
+ 2.4%
96.3%
96.8%
+ 0.5%
96.3%
96.8%
+ 0.5%
168
147
- 12.5%
168
147
- 12.5%
4,176
3,806
- 8.9%
--
--
--
6.4
5.2
- 18.8%
--
--
--
1-2014
Months Supply
1-2011
973
1-2014
1,190
1-2014
Affordability Index
1-2011
- 18.2%
1-2014
973
1-2014
1,190
Percent Change
1-2014
1-2014
Days on Market
1-2011
Percent Change
1-2014
Closed Sales
1-2011
1-2014
1-2014
Pending Sales
1-2011
1-2013
1-2014
Current as of February 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.
January
Year to Date
1,190
1,190
1,017
- 11.9%
1,017
973
+ 17.0%
2012
New Listings
- 18.2%
2013
- 11.9%
973
+ 17.0%
2012
2014
- 18.2%
2013
2014
Prior Year
Percent Change
February 2013
1,023
1,026
-0.3%
March 2013
1,213
1,192
+1.8%
April 2013
1,262
1,142
+10.5%
May 2013
1,246
1,217
+2.4%
June 2013
1,179
1,114
+5.8%
July 2013
1,210
1,176
+2.9%
August 2013
1,173
998
+17.5%
September 2013
1,080
918
+17.6%
October 2013
1,065
1,072
-0.7%
November 2013
804
814
-1.2%
December 2013
665
607
+9.6%
January 2014
973
1,190
-18.2%
12-Month Avg
1,074
1,039
+3.4%
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 February 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.
January
Year to Date
Pending Sales
774
611
571
+ 22.8%
774
571
+ 7.0%
2012
611
+ 26.7%
2013
+ 22.8%
+ 7.0%
2012
2014
+ 26.7%
2013
2014
Prior Year
Percent Change
February 2013
668
680
-1.8%
March 2013
878
717
+22.5%
April 2013
875
789
+10.9%
May 2013
831
764
+8.8%
June 2013
775
691
+12.2%
July 2013
787
768
+2.5%
August 2013
756
584
+29.5%
September 2013
619
582
+6.4%
October 2013
699
651
+7.4%
November 2013
595
540
+10.2%
December 2013
521
479
+8.8%
January 2014
774
611
+26.7%
12-Month Avg
732
655
+11.8%
1-2013
1-2014
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
Current as of February 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.
January
Year to Date
+ 15.4%
519
478
428
+ 8.6%
2013
+ 15.4%
+ 11.7%
2012
2014
519
478
428
+ 11.7%
2012
Closed Sales
+ 8.6%
2013
2014
Prior Year
Percent Change
February 2013
536
506
+5.9%
March 2013
758
648
+17.0%
April 2013
797
611
+30.4%
May 2013
837
737
+13.6%
June 2013
851
772
+10.2%
July 2013
839
721
+16.4%
August 2013
901
618
+45.8%
September 2013
730
698
+4.6%
October 2013
662
650
+1.8%
November 2013
587
557
+5.4%
December 2013
641
537
+19.4%
January 2014
519
478
+8.6%
12-Month Avg
722
628
+15.0%
1-2013
1-2014
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
Current as of February 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
January
Year to Date
100
98
Days on Market
100
98
86
+ 2.0%
- 3.9%
2012
86
- 14.0%
2013
- 3.9%
+ 2.0%
2012
2014
- 14.0%
2013
2014
Prior Year
Percent Change
February 2013
99
114
-13.2%
March 2013
93
103
-9.7%
April 2013
91
101
-9.9%
May 2013
92
99
-7.1%
June 2013
81
91
-11.0%
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%
12-Month Avg*
85
97
-12.4%
* Average Days on Market of all properties from February 2013 through January
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 February 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
January
$156,000
- 6.0%
2012
Year to Date
$162,000
+ 3.8%
$168,500
$156,000
+ 4.0%
2013
- 6.0%
2012
2014
$162,000
+ 3.8%
$168,500
+ 4.0%
2013
2014
Prior Year
Percent Change
February 2013
$172,450
$164,950
+4.5%
March 2013
$168,048
$158,500
+6.0%
April 2013
$178,950
$163,385
+9.5%
May 2013
$173,250
$170,000
+1.9%
June 2013
$177,900
$168,000
+5.9%
July 2013
$176,650
$171,707
+2.9%
August 2013
$175,525
$170,700
+2.8%
September 2013
$169,900
$169,900
0.0%
October 2013
$170,858
$166,150
+2.8%
November 2013
$174,000
$172,900
+0.6%
December 2013
$179,900
$165,000
+9.0%
January 2014
$168,500
$162,000
+4.0%
12-Month Med*
$174,500
$167,725
+4.0%
* Median Sales Price of all properties from February 2013 through January 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 February 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
January
$176,105
- 5.0%
2012
Year to Date
$174,675
- 0.8%
$178,835
$176,105
+ 2.4%
2013
- 5.0%
2012
2014
$174,675
- 0.8%
$178,835
+ 2.4%
2013
2014
Prior Year
Percent Change
February 2013
$196,109
$189,601
+3.4%
March 2013
$194,553
$183,328
+6.1%
April 2013
$207,359
$186,352
+11.3%
May 2013
$197,806
$196,757
+0.5%
June 2013
$203,624
$191,762
+6.2%
July 2013
$202,872
$194,814
+4.1%
August 2013
$202,831
$198,977
+1.9%
September 2013
$193,265
$197,728
-2.3%
October 2013
$197,266
$186,355
+5.9%
November 2013
$197,544
$205,357
-3.8%
December 2013
$203,440
$193,059
+5.4%
January 2014
$178,835
$174,675
+2.4%
12-Month Avg*
$198,719
$191,923
+3.5%
* Average Sales Price of all properties from February 2013 through January 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 February 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
January
Year to Date
96.9%
+ 0.4%
96.8%
96.3%
- 0.6%
2012
96.9%
+ 0.5%
2013
+ 0.4%
- 0.6%
2012
2014
96.8%
96.3%
+ 0.5%
2013
2014
Prior Year
Percent Change
February 2013
97.2%
96.4%
+0.8%
March 2013
96.9%
96.5%
+0.4%
April 2013
96.8%
96.8%
0.0%
May 2013
96.8%
97.1%
-0.3%
June 2013
97.1%
96.6%
+0.5%
July 2013
96.8%
97.0%
-0.2%
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%
12-Month Avg*
96.9%
96.7%
+0.2%
* Average Pct. of List Price Received for all properties from February 2013 through
January 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 February 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
January
Year to Date
168
161
+ 4.3%
2012
- 12.5%
2013
168
161
147
+ 15.0%
Affordability Index
+ 15.0%
147
+ 4.3%
2012
2014
- 12.5%
2013
2014
Prior Year
Percent Change
February 2013
156
155
+0.6%
March 2013
159
158
+0.6%
April 2013
153
157
-2.5%
May 2013
152
154
-1.3%
June 2013
141
156
-9.6%
July 2013
143
155
-7.7%
August 2013
142
155
-8.4%
September 2013
148
159
-6.9%
October 2013
147
161
-8.7%
November 2013
153
156
-1.9%
December 2013
142
164
-13.4%
January 2014
147
168
-12.5%
12-Month Avg
149
149
0.0%
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 February 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
January
4,537
4,176
3,806
- 8.9%
- 8.0%
- 5.6%
2012
2013
2014
Prior Year
Percent Change
February 2013
4,231
4,527
-6.5%
March 2013
4,206
4,626
-9.1%
April 2013
4,244
4,612
-8.0%
May 2013
4,315
4,682
-7.8%
June 2013
4,346
4,671
-7.0%
July 2013
4,380
4,648
-5.8%
August 2013
4,370
4,631
-5.6%
September 2013
4,434
4,494
-1.3%
October 2013
4,417
4,442
-0.6%
November 2013
4,272
4,334
-1.4%
December 2013
3,987
4,002
-0.4%
January 2014
3,806
4,176
-8.9%
12-Month Avg*
4,251
4,487
-5.3%
* Homes for Sale for all properties from February 2013 through January 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 February 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
January
Months Supply
8.1
6.4
5.2
- 21.0%
- 12.0%
2012
- 18.8%
2013
2014
Prior Year
Percent Change
February 2013
6.5
7.8
-16.7%
March 2013
6.3
7.9
-20.3%
April 2013
6.3
7.6
-17.1%
May 2013
6.3
7.6
-17.1%
June 2013
6.3
7.6
-17.1%
July 2013
6.4
7.4
-13.5%
August 2013
6.2
7.4
-16.2%
September 2013
6.3
7.2
-12.5%
October 2013
6.2
7.0
-11.4%
November 2013
6.0
6.7
-10.4%
December 2013
5.6
6.1
-8.2%
January 2014
5.2
6.4
-18.8%
12-Month Avg*
6.1
7.2
-15.3%
* Months Supply for all properties from February 2013 through January 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 February 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