November 2023 Real Estate Sales in the Greater Baton Rouge Area!

November 2023 real estate sales numbers for the Greater Baton Rouge Area are in. A total of 703 properties were listed and sold in the Greater Baton Rouge Association of Realtors MLS valued at a touch over $188,000,000!

Sales continued their fairly typical decrease in November from October due to some normal seasonality slowdown and continued elevated interest rates. Constrained inventory in our local market continues to hamper home sales, there's still a ton of home buying and selling occurring!

What stands out to me is the days on market before selling number - a whopping 73 days in November 2023! That's a pretty yucky number and up from 49 days in November 2022.

Interest rates are continuing to soften now in mid-December and I'm beginning to see what appears to be an uptick in activity primarily from buyers coming back into the market. It looks like the Fed is done raising interest rates and we are expecting up to 3 rates cuts in 2024. If that happens, I expect a great deal of pent-up buyer demand to hit the market sometime in Q2 2024!

I'm always available to answer questions about specific homes or neighborhoods or the real estate market in general - just reach out and let's visit!

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