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February 9, 2008

Acension Real Estate Market Update - January 2008

Ascension Parish Real Estate Market Analysis

January 2008 Update

This interim report supplements my 2007 Year-end Residential Real Estate Report . The report examines data extracted from the Greater Baton Rouge Association of Realtors database for detached single family residences in Ascension Parish.

The chart below show unit sales in January of 2008 compared with the month of January in 2003 through 2007. We can see that in the re-sale market space, home sales were below the Katrina bump but were above January sales in the pre-Katrina years. It was a very different story for new construction, however. New construction unit sales were lower in January of 2008 than in any of the previous five years!

While the previous chart shows that new home unit sales are down, the chart below shows that the average sales price has increased for both new construction and for homes in the re-sale market space.

Looking at the entire 5 year history of unit sales for new construction we can see that a big drop in unit sales was recorded in January 2008. In fact, January sales were below any point in the five year history shown.

In the re-sale market space we see that a slight up tick in unit sales was recorded for January 2008. The 6-month moving average was above pre-Katrina levels.

Dollar sales of new construction are also down sharply.

Dollar sales of re-sale homes remained higher than pre-Katrina levels.

We also looked at inventory levels over the past several months for new construction in various price ranges. It appears that inventory levels of homes in the $150K-199K price range are trending upward.

As always, I welcome readers to visit my websites at,, or www.PelicanPointHomes.netfor real estate information about and to search for homes within the Greater Baton Rouge area. Click here to search for homes.

Contact me via e-mail1312 or call me at (225) 413-3624 for more information.

©2008 by Don Stern - All Rights Reserved

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