Baton Rouge, LA housing market

Baton Rouge sellers are learning a hard lesson this summer: homes here take time to move. The typical listing is sitting on the market for about 68 days before going under contract, which tells you buyers are not in a hurry. Values have barely budged either, with the typical home worth about two hundred thirty-two thousand five hundred fifty dollars, up less than one percent over the past year. Meanwhile there are roughly one thousand five hundred homes for sale, and about 500 new listings came on in the past month, so buyers have plenty to choose from. Nearly one in five listings has already cut its price, and the typical asking price sits around two hundred forty thousand dollars, very close to what homes are actually worth. Put it together and the message is clear. This is a patient buyer's market. If you price at the market from day one, you will sell. Overprice, and you will likely spend two months waiting before you cut anyway.