Understand the difference between “listing prices” (what sellers are asking for) and “sold prices” (what buyers are willing to pay).
By comparing these price trends, you’ll have a good idea of where the Baton Rouge housing market is heading. The median listing and sold property prices are calculated based on the market activity each month.
Review the inventory and health of the market by looking at the number of sold and listed properties.
To understand if the market inventory is growing or shrinking, compare the number of sold properties to new listings. If inventory is growing, the market could be trending toward a buyer’s market. If inventory is shrinking, then it could be a seller’s market.
Gauge the health of the market by comparing the number of standard to distressed listings. If the number of distressed listings is greater, the market could be unhealthy and more likely a buyer’s market.
- Sold: Properties sold that month
- New: Listings that are new on the market
- Distressed: Listings that are short sales, bank owned, or up for auction.
- Standard: Non-distressed listings
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1 comment:
Hello,
Homes for Sale is generally the largest single financial transaction most people ever conduct. It provides real estate services to home buyers, home sellers, as well as real estate agents and brokers. Thanks a lot...
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