GBRAR Market Indicators 07/2014

Monthly Indicators
July 2014
Activity Snapshot
Although low supply and tight credit standards are still hurdles to recovery,
prices continue to rise in most local areas. Job growth has strengthened lately,
but wage growth has not kept pace with the price gains we have seen. Buoyed
by stable and continuously lower interest rates, affordability is still historically
high yet below its all-time peak. Rising inventory levels will lead to more choices
for qualified buyers, but as the summer reaches toward fall, the prospect of
more homes coming on the market begins to wane.
New Listings in Greater Baton Rouge increased 3.2 percent to 1,251. Pending
Sales were up 25.3 percent to 985. Inventory levels shrank 9.8 percent to 4,003
units.
Prices forged onward. The Median Sales Price increased 3.5 percent to
$182,900. Days on Market was up 7.9 percent to 82 days. Absorption rates
improved as Months Supply of Inventory was down 18.5 percent to 5.3 months.
The U.S. Department of Commerce reported that GDP grew at a 4.0 percent
annual rate in the second quarter and that the first quarter was less bad than
previously thought. Consumer spending in the first quarter rose 2.5 percent,
which is encouragingly in tandem with savings rates. Increased consumer
spending means more demand for goods and labor; increased savings rates
means more resources for downpayments. With rates still low, rents still rising
and private job growth accelerating, it's becoming more and more difficult to
side with the housing perma-bears.
+ 2.0%
+ 3.5%
- 9.8%
One-Year Change in
Closed Sales
One-Year Change in
Median Sales Price
One-Year Change in
Homes for Sale
A research tool provided by the Greater Baton Rouge Association of

REALTORS. Residential real estate activity comprised of single-family
properties, townhomes and condominiums combined. Percent changes
are calculated using rounded figures.
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
Click on desired metric to jump to that page.
Current as of August 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
7-2011
7-2012
7-2013
7-2012
7-2013
7-2012
7-2013
7-2012
7-2013
7-2012
7-2013
7-2012
7-2013
7-2012
7-2013
7-2012
7-2013
7-2012
7-2013
7-2012
7-2013
- 0.9%
786
985
+ 25.3%
5,403
6,012
+ 11.3%
839
856
+ 2.0%
5,097
5,262
+ 3.2%
76
82
+ 7.9%
89
87
- 2.2%
$176,650
$182,900
+ 3.5%
$173,500
$175,585
+ 1.2%
$202,854
$196,914
- 2.9%
$198,314
$199,879
+ 0.8%
96.7%
97.7%
+ 1.0%
96.9%
97.2%
+ 0.3%
146
145
- 0.7%
149
151
+ 1.3%
4,439
4,003
- 9.8%
--
--
--
6.5
5.3
- 18.5%
--
--
--
7-2014
Months Supply
7-2011
8,262
7-2014
Homes for Sale

7-2011
8,335
7-2014
Affordability Index
7-2011
+ 3.2%
7-2014
Pct. of List Price Received

7-2011
1,251
7-2014
Average Sales Price

7-2011
1,212
Percent Change
7-2014
Median Sales Price

7-2011
YTD 2013 YTD 2014
7-2014
Days on Market
7-2011
Percent Change
7-2014
Closed Sales
7-2011
7-2014
7-2014
Pending Sales
7-2011
7-2013
7-2014
Current as of August 11, 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.
July
Year to Date
1,251
1,212
1,178
+ 2.9%
+ 7.7%
2012
+ 3.2%
2013
8,335
7,890
+ 2.3%
+ 5.6%
2012
2014
New Listings
2013
8,262
- 0.9%
2014
Prior Year
Percent Change
August 2013
1,179
999
+18.0%
September 2013
1,092
919
+18.8%
October 2013
-0.2%
1,070
1,072
November 2013
811
814
-0.4%
December 2013
671
608
+10.4%
January 2014
996
1,191
-16.4%
February 2014
1,006
1,023
-1.7%
March 2014
1,129
1,213
-6.9%
April 2014
1,283
1,266
+1.3%
May 2014
1,254
1,249
+0.4%
June 2014
1,343
1,181
+13.7%
July 2014
1,251
1,212
+3.2%
12-Month Avg
1,090
1,062
+2.6%
Historical New Listings by Month

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
Pending Sales
A count of the properties on which offers have been accepted in a given month.
July
Year to Date
6,012
985
+ 2.5%
+ 25.7%
2012
5,403
4,977
786
767
+ 25.3%
2013
Pending Sales
+ 23.1%
+ 8.6%
2012
2014
2013
+ 11.3%
2014
Prior Year
Percent Change
August 2013
751
583
+28.8%
September 2013
610
582
+4.8%
October 2013
687
650
+5.7%
November 2013
573
538
+6.5%
December 2013
488
477
+2.3%
January 2014
669
606
+10.4%
February 2014
667
665
+0.3%
March 2014
842
875
-3.8%
April 2014
914
873
+4.7%
May 2014
961
828
+16.1%
June 2014
974
770
+26.5%
July 2014
985
786
+25.3%
12-Month Avg
760
686
+10.8%
Historical Pending Sales by Month

3,000
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
1-2013
1-2014
Closed Sales
A count of the actual sales that closed in a given month.
July
Year to Date
856
839
5,097
721
+ 16.5%
Closed Sales
5,262
4,423
+ 16.4%
2012
2013
+ 2.0%
+ 18.5%
+ 15.2%
2012
2014
2013
+ 3.2%
2014
Prior Year
Percent Change
August 2013
902
618
+46.0%
September 2013
731
698
+4.7%
October 2013
662
650
+1.8%
November 2013
588
557
+5.6%
December 2013
643
537
+19.7%
January 2014
523
479
+9.2%
February 2014
606
536
+13.1%
March 2014
657
758
-13.3%
April 2014
808
797
+1.4%
May 2014
917
836
+9.7%
June 2014
895
852
+5.0%
July 2014
856
839
+2.0%
12-Month Avg
732
680
+7.6%
Historical Closed Sales by Month

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
1-2013
1-2014
Days on Market Until Sale

Average number of days between when a property is listed and when an offer is accepted in a given month.
July
Year to Date
88
82
76
- 13.6%
- 5.4%
2012
2013
98
+ 7.9%
89
- 5.8%
87
- 9.2%
2012
2014
Days on Market
2013
- 2.2%
2014
Prior Year
Percent Change
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%
February 2014
94
99
-5.1%
March 2014
94
93
+1.1%
April 2014
92
91
+1.1%
May 2014
86
92
-6.5%
June 2014
81
81
0.0%
July 2014
82
76
+7.9%
12-Month Avg*
85
92
-7.6%
* Average Days on Market of all properties from August 2013 through July 2014.
This is not the average of the individual figures above.
Historical Days on Market Until Sale by Month

120
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
Median Sales Price

Point at which half of the sales sold for more and half sold for less, not accounting for seller concessions, in a given month.
July
Year to Date
$171,707
+ 1.0%
2012
$182,900
$176,650
$165,900
+ 2.9%
+ 3.5%
2013
0.0%
Median Sales Price
+ 4.6%
2012
2014
$175,585
$173,500
+ 1.2%
2013
2014
Prior Year
Percent Change
August 2013
$176,000
$170,700
+3.1%
September 2013
$169,900
$169,900
0.0%
October 2013
$170,858
$166,150
+2.8%
November 2013
$174,450
$172,900
+0.9%
December 2013
$179,500
$165,000
+8.8%
January 2014
$167,500
$162,000
+3.4%
February 2014
$164,950
$172,450
-4.3%
March 2014
$178,005
$168,048
+5.9%
April 2014
$171,443
$178,950
-4.2%
May 2014
$176,000
$173,500
+1.4%
June 2014
$185,000
$177,900
+4.0%
July 2014
$182,900
$176,650
+3.5%
12-Month Med*
$175,000
$171,878
+1.8%
* Median Sales Price of all properties from August 2013 through July 2014. This is
not the average of the individual figures above.
Historical Median Sales Price by Month

$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
Average Sales Price

Average sales price for all closed sales, not accounting for seller concessions, in a given month.
July
Year to Date
$194,814
+ 1.7%
2012
$202,854
$196,914
+ 4.1%
- 2.9%
2013
$189,350
- 1.3%
Average Sales Price
+ 4.7%
2012
2014
$199,879
$198,314
+ 0.8%
2013
2014
Prior Year
Percent Change
August 2013
$202,850
$198,977
+1.9%
September 2013
$193,128
$197,728
-2.3%
October 2013
$197,266
$186,355
+5.9%
November 2013
$197,744
$205,357
-3.7%
December 2013
$203,204
$193,059
+5.3%
January 2014
$178,590
$174,690
+2.2%
February 2014
$193,480
$196,109
-1.3%
March 2014
$205,917
$194,552
+5.8%
April 2014
$200,839
$207,359
-3.1%
May 2014
$205,410
$197,982
+3.8%
June 2014
$208,529
$203,750
+2.3%
July 2014
$196,914
$202,854
-2.9%
12-Month Avg*
$199,525
$197,496
+1.0%
* Average Sales Price of all properties from August 2013 through July 2014. This is
not the average of the individual figures above.
Historical Average Sales Price by Month

$250,000
$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
Percent of List Price Received

Percentage found when dividing a propertys sales price by its most recent list price, then taking the average for all properties sold in a
given month, not accounting for seller concessions.
July
Year to Date
97.0%
97.7%
96.7%
- 0.3%
+ 0.2%
2012
+ 1.0%
2013
97.2%
96.9%
96.8%
+ 0.1%
+ 0.1%
2012
2014
Pct. of List Price Received
2013
+ 0.3%
2014
Prior Year
Percent Change
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%
February 2014
96.4%
97.2%
-0.8%
March 2014
97.1%
96.9%
+0.2%
April 2014
97.1%
96.8%
+0.3%
May 2014
97.4%
96.8%
+0.6%
June 2014
97.6%
97.1%
+0.5%
July 2014
97.7%
96.7%
+1.0%
12-Month Avg*
97.1%
96.8%
+0.3%
* Average Pct. of List Price Received for all properties from August 2013 through
July 2014. This is not the average of the individual figures above.
Historical Percent of List Price Received by Month

101%
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
Housing Affordability Index

This index measures housing affordability for the region. An index of 120 means the median household income is 120% of what is
necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability.
July
160
146
2012
Affordability Index
August 2013
165
September 2013
- 0.7%
2013
151
149
145
- 8.8%
+ 9.6%
Year to Date
+ 10.7%
- 9.7%
2012
2014
2013
+ 1.3%
2014
Prior Year
Percent Change
145
160
-9.4%
152
164
-7.3%
October 2013
151
166
-9.0%
November 2013
157
161
-2.5%
December 2013
145
170
-14.7%
January 2014
152
175
-13.1%
February 2014
157
160
-1.9%
March 2014
146
164
-11.0%
April 2014
151
157
-3.8%
May 2014
151
156
-3.2%
June 2014
143
144
-0.7%
July 2014
145
146
-0.7%
12-Month Avg
150
150
0.0%
Historical Housing Affordability Index by Month

200
150
100
50
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
Inventory of Homes for Sale

The number of properties available for sale in active status at the end of a given month.
July
Homes for Sale
4,671
4,439
4,003
- 9.8%
- 5.0%
- 8.6%
2012
2013
2014
Prior Year
Percent Change
August 2013
4,439
4,656
-4.7%
September 2013
4,525
4,519
+0.1%
October 2013
4,526
4,467
+1.3%
November 2013
4,410
4,361
+1.1%
December 2013
4,161
4,033
+3.2%
January 2014
4,115
4,213
-2.3%
February 2014
4,138
4,270
-3.1%
March 2014
4,105
4,247
-3.3%
April 2014
4,157
4,291
-3.1%
May 2014
4,133
4,367
-5.4%
June 2014
4,141
4,405
-6.0%
July 2014
4,003
4,439
-9.8%
12-Month Avg*
4,238
4,356
-2.7%
* Homes for Sale for all properties from August 2013 through July 2014. This is not
the average of the individual figures above.
Historical Inventory of Homes for Sale by Month

6,000
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
Months Supply of Inventory

The inventory of homes for sale at the end of a given month, divided by the average monthly pending sales from the last 12 months.
July
Months Supply
7.4
6.5
5.3
- 12.2%
- 25.3%
2012
- 18.5%
2013
2014
Prior Year
Percent Change
August 2013
6.3
7.5
-16.0%
September 2013
6.4
7.2
-11.1%
October 2013
6.4
7.0
-8.6%
November 2013
6.2
6.8
-8.8%
December 2013
5.9
6.2
-4.8%
January 2014
5.8
6.4
-9.4%
February 2014
5.8
6.5
-10.8%
March 2014
5.8
6.4
-9.4%
April 2014
5.8
6.4
-9.4%
May 2014
5.7
6.4
-10.9%
June 2014
5.6
6.4
-12.5%
July 2014
5.3
6.5
-18.5%
12-Month Avg*
5.9
6.6
-10.6%
* Months Supply for all properties from August 2013 through July 2014. This is not
the average of the individual figures above.
Historical Months Supply of Inventory by Month

30
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

GBRAR Market Indicators 07/2014

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Monthly Indicators

A research tool provided by the Greater Baton Rouge Association of

Click on desired metric to jump to that page.

Homes for Sale

Pct. of List Price Received

Average Sales Price

Median Sales Price

YTD 2013 YTD 2014

Historical New Listings by Month

Historical Pending Sales by Month

Historical Closed Sales by Month

Days on Market Until Sale

Historical Days on Market Until Sale by Month

Median Sales Price

Median Sales Price

Historical Median Sales Price by Month

Average Sales Price

Average Sales Price

Historical Average Sales Price by Month

Percent of List Price Received

Pct. of List Price Received

Historical Percent of List Price Received by Month

Housing Affordability Index

Historical Housing Affordability Index by Month

Inventory of Homes for Sale

Homes for Sale

Historical Inventory of Homes for Sale by Month

Months Supply of Inventory

Historical Months Supply of Inventory by Month

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