Monthly Indicators

September 2014

Activity Snapshot

Markets across the nation seem to be back on the recovery track after a brief
pause. One of the more encouraging aspects of this renewed recovery is that
new construction of single-family homes reached six-year highs in August,
according to the U.S. Commerce Department. Consumers are also finding more
listings in their search results than they have in years. Inventory is rising in many
neighborhoods as higher prices have motivated more sellers to list.
New Listings in Greater Baton Rouge decreased 15.7 percent to 918. Pending
Sales were up 33.0 percent to 811. Inventory levels shrank 11.1 percent to
4,025 units.
Prices continued to gain traction. The Median Sales Price increased 5.9 percent
to $180,000. Days on Market was up 5.1 percent to 83 days. Sellers were
encouraged as Months Supply of Inventory was down 17.2 percent to 5.3
months.
The departure of investors from the scene should benefit first-time homebuyers,
but student debt and sluggish wage growth have slowed that transition. The
economy is growing, but it's growing at a slower pace than desired. Thankfully,
inflation remains tame, partly enabling the Federal Reserve to keep rates low for
longer, contrary to the forecasts of most economists.

- 1.0%

+ 5.9%

- 11.1%

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 October 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
9-2011

9-2012

9-2013

9-2012

9-2013

9-2012

9-2013

9-2012

9-2013

9-2012

9-2013

9-2012

9-2013

9-2012

9-2013

9-2012

9-2013

9-2012

9-2013

9-2012

9-2013

- 2.6%

610

811

+ 33.0%

6,760

7,391

+ 9.3%

732

725

- 1.0%

6,731

6,859

+ 1.9%

79

83

+ 5.1%

86

85

- 1.2%

$169,900

$180,000

+ 5.9%

$173,500

$176,000

+ 1.4%

$193,224

$200,373

+ 3.7%

$198,368

$200,764

+ 1.2%

97.3%

97.4%

+ 0.1%

97.0%

97.2%

+ 0.2%

152

146

- 3.9%

149

150

+ 0.7%

4,527

4,025

- 11.1%

--

--

--

6.4

5.3

- 17.2%

--

--

--

9-2014

Months Supply
9-2011

10,321

9-2014

Homes for Sale

9-2011

10,597

9-2014

Affordability Index
9-2011

- 15.7%

9-2014

Pct. of List Price Received

9-2011

918

9-2014

Avg. Sales Price

9-2011

1,089

Percent Change

9-2014

Median Sales Price

9-2011

YTD 2013 YTD 2014

9-2014

Days on Market
9-2011

Percent Change

9-2014

Closed Sales
9-2011

9-2014

9-2014

Pending Sales
9-2011

9-2013

9-2014

Current as of October 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.

September

Year to Date
1,089

919

- 5.6%

+ 18.5%

- 15.7%

+ 0.8%

+ 8.1%

10,321

- 2.6%

2013

2012

2014

2013

2014

Percent Change

1,073

1,072

+0.1%

812

814

-0.2%

December 2013

671

608

+10.4%

January 2014

995

1,190

-16.4%

February 2014

1,007

1,023

-1.6%

March 2014

1,131

1,213

-6.8%

April 2014

1,282

1,266

+1.3%

May 2014

1,258

1,247

+0.9%

June 2014

1,344

1,181

+13.8%

July 2014

1,264

1,210

+4.5%

August 2014

1,122

1,178

-4.8%

918

1,089

-15.7%

1,073

1,091

-1.6%

September 2014
2012

Prior Year

November 2013

October 2013

10,597

9,807

918

New Listings

12-Month Avg

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

Current as of October 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.

September

Year to Date
811

Pending Sales

6,760

6,138

7,391

610

582

+ 4.8%

+ 9.8%
2012

+ 33.0%

2013

+ 17.1%

+ 10.1%

2012

2014

2013

+ 9.3%
2014

Prior Year

Percent Change

686

650

+5.5%

572

538

+6.3%

December 2013

487

477

+2.1%

January 2014

668

606

+10.2%

February 2014

664

665

-0.2%

March 2014

838

875

-4.2%

April 2014

910

873

+4.2%

May 2014

945

828

+14.1%

June 2014

926

769

+20.4%

July 2014

860

786

+9.4%

August 2014

769

748

+2.8%

September 2014

811

610

+33.0%

12-Month Avg

761

702

+8.4%

October 2013
November 2013

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

Current as of October 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.

September

Year to Date
732

698

725

Closed Sales

6,731

6,859

5,739

+ 4.9%

+ 13.7%
2012

- 1.0%

2013

+ 13.6%

+ 17.3%

2012

2014

2013

+ 1.9%
2014

Prior Year

Percent Change

662

650

+1.8%

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

918

836

+9.8%

June 2014

895

852

+5.0%

July 2014

871

839

+3.8%

August 2014

856

902

-5.1%

September 2014

725

732

-1.0%

12-Month Avg

729

706

+3.3%

October 2013
November 2013

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

Current as of October 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

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.

September

Year to Date

103

Days on Market

99

- 23.3%

+ 12.0%
2012

86

83

79

2013

+ 5.1%

- 2.0%

- 13.1%

2012

2014

2013

85

- 1.2%
2014

Prior Year

Percent Change

84

94

-10.6%

85

89

-4.5%

December 2013

78

86

-9.3%

January 2014

84

99

-15.2%

February 2014

93

99

-6.1%

March 2014

93

92

+1.1%

April 2014

92

90

+2.2%

May 2014

85

92

-7.6%

June 2014

81

80

+1.3%

July 2014

82

76

+7.9%

August 2014

77

78

-1.3%

September 2014

83

79

+5.1%

12-Month Avg*

84

87

-3.4%

October 2013
November 2013

* Average Days on Market of all properties from October 2013 through September
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

Current as of October 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

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.

September
$169,900

+ 4.3%
2012

Year to Date
$180,000

$169,900

0.0%

+ 5.9%

2013

$173,500

$167,000

+ 0.7%

+ 3.9%

2012

2014

Median Sales Price

2013

$176,000

+ 1.4%
2014

Prior Year

Percent Change

$170,858

$166,150

+2.8%

$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

$176,250

$173,500

+1.6%

June 2014

$185,000

$177,900

+4.0%

July 2014

$182,000

$176,650

+3.0%

August 2014

$178,950

$176,000

+1.7%

September 2014

$180,000

$169,900

+5.9%

12-Month Med*

$175,900

$172,095

+2.2%

October 2013
November 2013

* Median Sales Price of all properties from October 2013 through September 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

Current as of October 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

Average Sales Price

Average sales price for all closed sales, not accounting for seller concessions, in a given month.

September
$197,728

+ 8.4%
2012

Year to Date
$200,373

$193,224

- 2.3%

+ 3.7%

2013

$198,368

$191,406

- 0.0%

+ 3.6%

2012

2014

Avg. Sales Price

2013

$200,764

+ 1.2%
2014

Prior Year

Percent Change

$197,266

$186,355

+5.9%

$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

$205,462

$197,982

+3.8%

June 2014

$208,517

$203,750

+2.3%

July 2014

$196,521

$202,854

-3.1%

August 2014

$206,935

$202,850

+2.0%

September 2014

$200,373

$193,224

+3.7%

12-Month Avg*

$200,476

$197,570

+1.5%

October 2013
November 2013

* Avg. Sales Price of all properties from October 2013 through September 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

Current as of October 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

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.

September

Year to Date
97.4%

97.3%

97.2%

+ 0.1%

+ 0.8%
2012

+ 0.1%

2013

97.0%

96.9%

+ 0.3%

+ 0.1%

2012

2014

Pct. of List Price Received

2013

97.2%

+ 0.2%
2014

Prior Year

Percent Change

96.5%

96.4%

+0.1%

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%

August 2014

97.2%

97.3%

-0.1%

September 2014

97.4%

97.3%

+0.1%

12-Month Avg*

97.1%

96.8%

+0.3%

October 2013
November 2013

* Average Pct. of List Price Received for all properties from October 2013 through
September 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

Current as of October 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

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.

September

Year to Date

164

166

152

2012

149

146

- 7.3%

+ 3.8%

Affordability Index

2013

- 3.9%

+ 7.1%

- 10.2%

2012

2014

2013

150

+ 0.7%
2014

Prior Year

Percent Change

151

166

-9.0%

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%

August 2014

148

145

+2.1%

September 2014

146

152

-3.9%

12-Month Avg

149

149

0.0%

October 2013
November 2013

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

Current as of October 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

Inventory of Homes for Sale

The number of properties available for sale in active status at the end of a given month.

September

Homes for Sale

4,527

4,526

4,025

- 11.1%

+ 0.0%

- 7.0%
2012

2013

2014

Prior Year

Percent Change

4,532

4,474

+1.3%

4,418

4,368

+1.1%

December 2013

4,171

4,040

+3.2%

January 2014

4,125

4,219

-2.2%

February 2014

4,152

4,276

-2.9%

March 2014

4,125

4,251

-3.0%

April 2014

4,181

4,295

-2.7%

May 2014

4,179

4,369

-4.3%

June 2014

4,241

4,408

-3.8%

July 2014

4,245

4,441

-4.4%

August 2014

4,253

4,443

-4.3%

September 2014

4,025

4,527

-11.1%

12-Month Avg*

4,221

4,343

-2.8%

October 2013
November 2013

* Homes for Sale for all properties from October 2013 through September 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

Current as of October 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

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.

September

Months Supply

7.2
6.4
5.3

- 11.1%

- 20.9%
2012

- 17.2%

2013

2014

Prior Year

Percent Change

6.4

7.0

-8.6%

6.2

6.8

-8.8%

December 2013

5.9

6.2

-4.8%

January 2014

5.8

6.5

-10.8%

February 2014

5.8

6.6

-12.1%

March 2014

5.8

6.4

-9.4%

April 2014

5.9

6.4

-7.8%

May 2014

5.8

6.4

-9.4%

June 2014

5.8

6.4

-9.4%

July 2014

5.7

6.5

-12.3%

August 2014

5.7

6.3

-9.5%

September 2014

5.3

6.4

-17.2%

12-Month Avg*

5.8

6.5

-10.8%

October 2013
November 2013

* Months Supply for all properties from October 2013 through September 2014.
This is not the average of the individual figures above.

Historical Months Supply of Inventory by Month

12

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 October 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