It has been very interesting to watch the Greater Baton Rouge Market since hurricane Katrina.  If we look back to 2004 here is what the market looked like:

2004      Ave Sales Price $147,251       #Homes closed  8278       Days on Market      81

2005                                     $168,605                                      9935                                          76

2006                                     $190,198                                       9531                                           62

As most of the country experiences a slow down in the real estate market, our economy continues to thrive.  The higest increase is still in homes under $200,000.  The higher the price, the slower the market.  New construction continues to strongly affect our market.  With interest rates low, bond money available, our market should continue on this course for some time.  It is definitely a great time to buy or sell!

That said, the houses that are not selling are the ones that are over priced or not in top condition.  A lot of the buyers are using 100% financing, even in the higher priced homes, and don't have any money to update or do repairs to homes.  So, just like before hurricane Katrina, the homes that are in the best condition and priced well will sell. 

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