S
outh Baton Rouge's Burbank Drive-Bluebonnet Boulevard corridor is a sizzling hotbed of residential development, drawing in builders with visions for everything from cozy starter homes to opulent mansions. Meanwhile, the Capital Region housing market has been experiencing a seesaw effect, with pending sales dipping year-over-year in January but inventory and closed sales surging.

    According to the Greater Baton Rouge Association of Realtors' latest report, the number of homes on the market in the Baton Rouge area – encompassing East Baton Rouge, Ascension, and Livingston parishes – skyrocketed 13% from last year. In January, a total of 3,054 properties were listed for sale, up from 2,703 in January 2024.

    Residential real estate sales have been on an upward trajectory for four consecutive months, with 537 closed home sales in January representing a 7.2% increase from the same period last year. However, housing affordability took a hit, declining by 3.7% in January compared to the previous year.

    The median sales price in January reached $261,563, a modest 1.4% bump from January 2024. On a parish-by-parish basis, East Baton Rouge saw its median sales price rise 5.2%, reaching $275,000 last month. Ascension Parish prices ticked up 0.4% to $280,000, while Livingston Parish's median price dipped 0.1% to $241,400.

    Days on the market until sale averaged 79 days in January, a slight increase from 76 days in January 2024. The months supply of inventory climbed 13.9% to 4.1, signaling a shift towards a more balanced market.