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Baton Rouge area home sales increase in May

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BATON ROUGE, La. (AP) — Home sales in the Baton Rouge metro area rose 10 percent in May and are up 15 percent for the year. That's according to figures compiled by the Greater Baton Rouge Association of Realtors.

The Advocate reports (http://bit.ly/1aaDg5x ) realtors sold 809 homes in the eight-parish area in May compared with 737 that month last year.

The metro area's three major markets — East Baton Rouge, Ascension and Livingston parishes — performed similarly well, with 11 percent, 12 percent and 11 percent gains, respectively.

For the year, East Baton Rouge and Ascension are up 16 percent and Livingston is up 13 percent.

The median sales price inched upward, rising 3 percent to $174,900, and homes are coming off the market a little quicker. The average number of days a home was on the market in May was down 6 percent to 93 days.

Appraiser Tom Cook of Cook Moore & Associates said prices haven't risen the way one would expect amid healthy, sustained increases in sales volume in part because the homes being built are primarily by high-volume builders at the lower end of the scale.

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Information from: The Advocate, http://theadvocate.com

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