Ascension Parish Market Stats for October 2009

Monthly Sales were 88  units. Comparison to last month:  Decreased 27%  from 121 units.  Comparison to this month last year: Decrease 6% from 94 Units.

Average Sold Price was $205,143.  Comparison to last month:  Increased  7% from $191,622.  Comparison to this month last year: Decreased 5% from $215,793.

Current Inventory is 6.56 months.  Comparison to last month:  Increased from 4.76 months.  Comparison to this month last year: Decreased from 8.54 months.

Average Days on Market were 86.  Comparison to last month:  Increased from 83 days.  Comparison to this month last year: Decreased from 97 days.

So what do all these numbers mean?  In a nutshell, it means that the historic fall/holiday slow down has begun.  Most of the first time home buyer’s purchased earlier because the tax credit was due to expire on November 30, 2009.  I think we will continue to see our slow down over the holidays.  On November 6, 2009  it was announced that the tax credit was extended until April 30, 2010 and there was an expansion for “long time resident” purchasers of $6,500.  This should spark some more interest but I wonder if people will wait until after the holidays.

The good thing about the holidays coming up is this.  The sellers putting their homes on the market are serious sellers.  They need to move and will price their properties appropriately.  The buyers that are out looking are also serious.  They are not the spring time buyers just out enjoying the weather.

Average Sales prices are back up.  They are closer to the 12 month average which is $211,985.

Enjoy your holidays and don’t hesitate to contact me with any questions you may have.

These stats are for areas 90,91 & 92 in Ascension Parish. Information used from Greater Baton Rouge MLS.  They include only single family dwellings.  Mobile home and land sales are not part of these numbers.  If you would like information on either of these, feel free to let me know.