At the beginning of 2009, Baton Rouge was 9th on Housing Predictor's midyear list of the 10 hottest housing markets for buyers. It is now was ranked 7th on the list by midyear. Things are getting hotter and for good reason!
Housing prices in some sections of the country have been a roller coaster ride for buyers and sellers. This has caused buyers to hold off buying as they thought the prices would decline further and caused sellers to put off selling or grit their teeth and price their property low. In Baton Rouge and a few cities around the country, this has not been the pattern. They may have felt some impact of the housing recession, but the economy has generally been strong.
As previously noted in our blog Baton Rouge Area Economy Growing in Midst of Recession, Baton Rouge area housing prices have remained stable in the 9 parishes that make up the Greater Baton Rough area. Though housing sites like Trulia show that prices are down at the moment, the area is viewed as a market where prices will rise. In mid November, the average listing price of a Baton Rouge home is $259,189, with a median selling price of $167,250.
Unlike other markets, Baton Rouge has not been battered by foreclosures that would leave the landscape flooded with bank owned homes. Per the Brookings Report, there was 1 bank owned home per 1,000 mortgages. More conservative lending prices in past shielded the city from much of the housing crisis felt elsewhere.
Bask in the heat of the Baton Rouge housing market! Let Sandy and her team show you a wide selection of beautiful new and pre-owned homes in the Greater Baton Rouge area, including Baton Rouge, Prairieville, Gonzales, Denham Springs, Watson, Walker, Central, Greenwell Springs, Zachary, Baker, Port Allen, Brusly, Geismar, and St Amant. We can also you answer any questions you might have about the home buyer’s tax credit - $8,000 for first time buyers or $6,500 for repeat buyers.