Ascension Parish Real Estate Market Report
The data used in this report were extracted from the Greater Baton Rouge Association of Realtors MLS database. The data are presumed accurate but are not warranted.
There was a sharp drop in the number of closings (unit sales) in Ascension parish during July as the following chart illustrates. During June there were a total of 142 detached single family homes transferred while in July only 63 DSF homes transferred. This is a drop of more than 55%! Clearly a significant number of closings during the first half of 2010 were attributable to the Home Buyer Tax Credit.
The next chart looks at new contracts negotiated for DSF homes during 2010. We can see that there was significant growth in the number of new contracts negotiated leading up to the April 30 deadline. Following that there was a significant drop in new contracts. While, as previously stated, there was a drop in the number of closings during July there was also a modest increase in the number of new contracts negotiated… from 85 in June to 96 in July, about a 13% increase. Improving but still a far cry from the 173 contracts negotiated in April.
The stacked bars represent the number of contracts for each status code recorded as of 8/10 when the data were extracted. Contracts with a status of Withdrawn or Active represent contracts which have fallen through since originally written. Thankfully, that number is rather small. Pending and contingent contracts have not yet closed and, hopefully, represent future sales.
As always, I appreciate hearing from readers and I welcome any comments or suggestions for improvement that you may offer.
©2010 by Don Stern – All Rights Reserved
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