Monthly Indicators

May 2014

Activity Snapshot

Some have noted a slight pause in the housing recovery this year. The
American Dream of homeownership is alive and well, but it must still contend
with market fluctuations. Buyers need homes for sale if they're expected to buy
said homes. They also need reliable financing, better jobs and stronger wage
growth. The opportunities are out there. Now we need people to take advantage
of them.
New Listings in Greater Baton Rouge decreased 1.2 percent to 1,234. Pending
Sales were up 27.5 percent to 1,057. Inventory levels shrank 10.6 percent to
3,901 units.
Prices forged onward. The Median Sales Price increased 1.0 percent to
$175,250. Days on Market was down 6.5 percent to 86 days. Absorption rates
improved as Months Supply of Inventory was down 17.2 percent to 5.3 months.
We've had a mixed bag of economic news lately. As expected, national GDP
contracted slightly during Q1-2014, which most economists attribute to
impermanent factors like the harsh winter. We've now had more than four
straight years of monthly private sector job growth. It hasn't been extraordinary
growth, but it sure beats mass layoffs. Buoyed by an improving sales mix, home
prices continue their ascent despite erratic demand indicators. More inventory,
more high-skilled job growth, and less economic and political uncertainty are
still top priorities.

+ 8.9%

+ 1.0%

- 10.6%

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 June 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
5-2011

5-2012

5-2013

5-2012

5-2013

5-2012

5-2013

5-2012

5-2013

5-2012

5-2013

5-2012

5-2013

5-2012

5-2013

5-2012

5-2013

5-2012

5-2013

5-2012

5-2013

- 5.3%

829

1,057

+ 27.5%

3,850

4,214

+ 9.5%

836

910

+ 8.9%

3,406

3,503

+ 2.8%

92

86

- 6.5%

94

90

- 4.3%

$173,500

$175,250

+ 1.0%

$170,886

$172,415

+ 0.9%

$197,982

$203,393

+ 2.7%

$195,838

$197,847

+ 1.0%

96.8%

97.4%

+ 0.6%

96.8%

97.0%

+ 0.2%

156

151

- 3.2%

159

154

- 3.1%

4,362

3,901

- 10.6%

--

--

--

6.4

5.3

- 17.2%

--

--

--

5-2014

Months Supply
5-2011

5,628

5-2014

Homes for Sale

5-2011

5,942

5-2014

Affordability Index
5-2011

- 1.2%

5-2014

Pct. of List Price Received

5-2011

1,234

5-2014

Average Sales Price

5-2011

1,249

Percent Change

5-2014

Median Sales Price

5-2011

YTD 2013 YTD 2014

5-2014

Days on Market
5-2011

Percent Change

5-2014

Closed Sales
5-2011

5-2014

5-2014

Pending Sales
5-2011

5-2013

5-2014

Current as of June 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.

May

Year to Date
1,249

1,218

+ 9.3%

1,234

+ 2.5%

2012

- 1.2%

2013

5,942

5,597

+ 1.2%

5,628

+ 6.2%

2012

2014

New Listings

- 5.3%

2013

2014

Prior Year

Percent Change

June 2013

1,181

1,115

+5.9%

July 2013

1,212

1,178

+2.9%

August 2013

1,179

999

+18.0%

September 2013

1,086

919

+18.2%

October 2013

1,066

1,072

-0.6%

November 2013

810

814

-0.5%

December 2013

668

608

+9.9%

January 2014

992

1,191

-16.7%

February 2014

1,001

1,023

-2.2%

March 2014

1,127

1,213

-7.1%

April 2014

1,274

1,266

+0.6%

May 2014

1,234

1,249

-1.2%

12-Month Avg

1,069

1,054

+1.4%

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 June 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.

May

Year to Date
1,057

4,214

3,850

3,520
829

764

+ 19.2%

Pending Sales

+ 8.5%

2012

+ 27.5%

2013

+ 26.1%

+ 9.4%

2012

2014

+ 9.5%

2013

2014

Prior Year

Percent Change

June 2013

770

690

+11.6%

July 2013

786

767

+2.5%

August 2013

752

583

+29.0%

September 2013

610

582

+4.8%

October 2013

687

650

+5.7%

November 2013

575

539

+6.7%

December 2013

488

478

+2.1%

January 2014

672

607

+10.7%

February 2014

673

665

+1.2%

March 2014

862

876

-1.6%

April 2014

950

873

+8.8%

May 2014

1,057

829

+27.5%

740

678

+9.1%

12-Month Avg

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 June 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.

May

Year to Date
910

836

3,503

3,406

737

+ 26.2%

Closed Sales

2,930

+ 13.4%

2012

+ 8.9%

2013

+ 20.3%

+ 16.2%

2012

2014

2013

+ 2.8%
2014

Prior Year

Percent Change

June 2013

852

772

+10.4%

July 2013

839

721

+16.4%

August 2013

902

618

+46.0%

September 2013

730

698

+4.6%

October 2013

662

650

+1.8%

November 2013

587

557

+5.4%

December 2013

643

537

+19.7%

January 2014

523

479

+9.2%

February 2014

606

536

+13.1%

March 2014

656

758

-13.5%

April 2014

808

797

+1.4%

May 2014

910

836

+8.9%

12-Month Avg

727

663

+9.7%

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 June 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.

May

Year to Date
103

99

92

2012

94

86

- 7.1%

- 10.8%

- 6.5%

2013

- 3.7%

90

- 8.7%

2012

2014

Days on Market

2013

- 4.3%
2014

Prior Year

Percent Change

June 2013

81

91

-11.0%

July 2013

76

88

-13.6%

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%

12-Month Avg*

84

94

-10.6%

* Average Days on Market of all properties from June 2013 through May 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 June 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.

May

Year to Date

$170,000

+ 2.5%
2012

$173,500

$175,250

+ 2.1%

$164,000

+ 1.0%

2013

- 0.6%

Median Sales Price

+ 4.2%

2012

2014

$172,415

$170,886

+ 0.9%

2013

2014

Prior Year

Percent Change

June 2013

$177,900

$168,000

+5.9%

July 2013

$176,650

$171,707

+2.9%

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

$174,000

$172,900

+0.6%

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

$177,900

$168,048

+5.9%

April 2014

$171,443

$178,950

-4.2%

May 2014

$175,250

$173,500

+1.0%

12-Month Med*

$174,600

$170,000

+2.7%

* Median Sales Price of all properties from June 2013 through May 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 June 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.

May

Year to Date

$196,757

+ 0.7%
2012

$197,982

$203,393

+ 0.6%

$187,372

+ 2.7%

2013

- 1.8%

Average Sales Price

+ 4.5%

2012

2014

$197,847

$195,838

+ 1.0%

2013

2014

Prior Year

Percent Change

June 2013

$203,750

$191,762

+6.3%

July 2013

$202,854

$194,814

+4.1%

August 2013

$202,850

$198,977

+1.9%

September 2013

$193,265

$197,728

-2.3%

October 2013

$197,266

$186,355

+5.9%

November 2013

$197,549

$205,357

-3.8%

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

$205,850

$194,552

+5.8%

April 2014

$200,839

$207,359

-3.1%

May 2014

$203,393

$197,982

+2.7%

12-Month Avg*

$199,370

$195,463

+2.0%

* Average Sales Price of all properties from June 2013 through May 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 June 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.

May

Year to Date

97.1%

+ 0.2%

97.4%

96.8%

- 0.3%

2012

+ 0.6%

2013

97.0%

96.8%

96.8%

+ 0.1%

0.0%

2012

2014

Pct. of List Price Received

+ 0.2%

2013

2014

Prior Year

Percent Change

June 2013

97.1%

96.6%

+0.5%

July 2013

96.7%

97.0%

-0.3%

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%

12-Month Avg*

97.0%

96.8%

+0.2%

* Average Pct. of List Price Received for all properties from June 2013 through May
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 June 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.

May

Year to Date
158

156

151

- 1.3%

+ 6.8%
2012

164

- 3.2%

2013

159

+ 10.1%

154

- 3.0%

2012

2014

Affordability Index

2013

- 3.1%
2014

Prior Year

Percent Change

June 2013

144

161

-10.6%

July 2013

146

160

-8.8%

August 2013

145

160

-9.4%

September 2013

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%

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

Current as of June 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.

May

Homes for Sale

4,701

4,362

3,901

- 10.6%

- 7.2%

- 9.8%
2012

2013

2014

Prior Year

Percent Change

June 2013

4,400

4,692

-6.2%

July 2013

4,434

4,671

-5.1%

August 2013

4,433

4,656

-4.8%

September 2013

4,513

4,519

-0.1%

October 2013

4,509

4,467

+0.9%

November 2013

4,390

4,360

+0.7%

December 2013

4,138

4,031

+2.7%

January 2014

4,085

4,210

-3.0%

February 2014

4,096

4,267

-4.0%

March 2014

4,040

4,243

-4.8%

April 2014

4,044

4,287

-5.7%

May 2014

3,901

4,362

-10.6%

12-Month Avg*

4,249

4,397

-3.4%

* Homes for Sale for all properties from June 2013 through May 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 June 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.

May

Months Supply

7.7
6.4
5.3

- 16.9%

- 27.4%
2012

- 17.2%

2013

2014

Prior Year

Percent Change

June 2013

6.4

7.6

-15.8%

July 2013

6.5

7.4

-12.2%

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

5.8

6.2

-6.5%

January 2014

5.7

6.4

-10.9%

February 2014

5.7

6.5

-12.3%

March 2014

5.7

6.4

-10.9%

April 2014

5.6

6.4

-12.5%

May 2014

5.3

6.4

-17.2%

12-Month Avg*

6.0

6.8

-11.8%

* Months Supply for all properties from June 2013 through May 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

Current as of June 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