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Baton Rouge has been named the best large city in the South for business growth by Southern Business & Development!  It had been recognized by the magazine several times before as a mid-sized city, but moved up to the large city category after its population grew past 750,000.  The rankings are based on economic development activity in 2012.  The magazine further recognized the Ascension Parish Economic Development Corp. Without the chemical and petrochemical projects that are going into Ascension parish, there was no way Baton Rouge would have been ranked as large city of the year.

This is further indication of why our real estate Market has remain so stable and continues to thrive.  I want to give special recognition to the Baton Rouge Area Chamber for actively pursuing companies that bring added jobs to our region.

Market Comparison 2012-2013 First Half

by Pat Wattam

The first half of 2013 has come and gone with a BANG!!  Lower inventory, prices slightly raising, multiple offer on houses, and interest rates ticking up - all combined to create a banner real estate Market!  Some of the things I have noticed is that we are seeing more multiple offers on houses - typically the first week on the market, and, as always, the best dressed and best priced homes are selling quickly!!!

Looking at the historical data comparing June 2012 to June 2013 I noticed that the months supply of homes on the market have goes from 6.25 in June 2012 to 4.81 months supply in June 2013.  Another piece of data I like to keep my eyes on is the Days On Market (DOM).  In June 2012 the average days on market from list to close was 93 days, where as in 2013 it has dropped to only 81 days.  And the last significant piece for me is the number of homes for sale.  In June 2012 we had 4643 properties for sale and this June we only had 4158.  The Average Sales Price has also gone from $191,406 in June 2012 to $204,076 in June 2013.  Perhaps this chart will clear everything up:

In the above chart you will see the spike in the number of homes closed - that is due to hurricane Katrina.  If you draw a straight line at the peek sales from year to year you will see that the number of home sales have steadily increased since 2010 - a healthy, stable real estate market!

Buyers need to make serious offers on homes based, in part, on how long the house has been on the market or when the last price change was made.  Chances are, if you think it is a really great house, someone else will too.  Make your offer your highest and best when you are notified that there is more than one offer on the house you want to buy.

Sellers, have your home pre-inspected and updated as much as possible to get the highest price in the fastest time.  

The Pat Wattam Team at RE/MAX First is ready to help you interpret this market.  Call on us at any time - whether preparing your house to sell and don't know where to start - or trying to determine what area is best for you and what kind of offer to make.  We want to be your REALTORS for life!!

July Happenings in Baton Rouge

by Pat Wattam

So many fun things available to keep you inside and cool on these hot summer days.  Here are a few of my picks to entertain you:

Les Miserables - the award winning musical performed by our own Theatre Baton Rouge (Used to be called Baton Rouge Little Theatre - new name).  7155 Florida Blvd. Tickets $29.   Performances through July 21, 2013.

Thursday, July 11, 2013 is the Hot Art Nights in Mid City.  The Elizabethan Gallery has their opening reception that night for the summer show by the Associated Women in the Arts.  Great works on display and for sale (including some by yours truly!)


Summer Sounds at St James Concert Series.  Tickets only $10. Wednesday July 10 hear a performance by the Hot Club of New Orleans with a reception to follow.  7 p.m.  St James Episcopal Church, corner of Convention and North Fourth streets downtown Baton Rouge.

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Pat Wattam
RE/MAX First, Independently Owned and Operated
4750 Sherwood Common
Baton Rouge LA 70816
Office Direct: 225-298-6900
Office Main: 225-291-1234
Fax: 225-295-1234

RE/MAX First
Each Office Independently Owned and Operated
Main: 225-291-1234

Licensed by the Louisiana Real Estate Commission