Editorial: The East Baton Rouge Home Market shows what can happen with the investment – nola.com

We were glad to see that the sales of Baton Rouge housing were relatively equal in 2024, despite the triple bite of elevated mortgage rates, strict deliveries and higher prices that led to a decline across the country.

And even more happier to see some previously difficult areas that are improving.

Constability is particularly remarkable, given that buyers in Louisiana have encountered the extra stress of the variable home insurance market and the threat of the next hurricane.

Despite these winds, home sales in nine-volume capital have dropped by only 0.2%, or 17 common sales, according to data from the larger Association of the Association of Brokers’ Brokers.

In the three largest parishes – East Baton Rouge, Ascension and Livingston – sales increase by about 2%, data show. These three parishes represent 75% of total home sales in the region.

Another indicator, the prices of the housing, was more mixed. Some suburban areas, especially in the parish of the Ascension, observe significant growth. Some high-dollar neighborhoods in Baton Rouge’s most exclusive areas have declined. For example, a 70808 postcode at South Baton Rouge has declined to a $ 17,000 average home price from $ 382,000 to $ 365,000.

In St. George, prices generally increased. The parish in Livingston remained flat.

However, the most encouraging developments came to North Baton Rouge, where a number of postal codes are increasing. In 70807, which included Scotlandville, Park Vista and Southern Heights, average housing prices increased by nearly $ 60,000, from $ 85,000 to $ 144,000. In 70811, the average sale price went from $ 155,000 to $ 175,000.

In the postcode 70705, the increase was far more tricky, from $ 64,000 to $ 65,000, data show.

Each increase is a positive sign of what seems to be an emerging trend: local investors help to turn some difficult properties and return them to trade.

Kelvin Jones is a resident of North Baton Rouge, who has purchased four houses in poor regions of Baton Rouge and Baker to update and resold.

“Some of the places we bought were almost condemned,” Jones told lawyer Timothy Boone.

Another investor, Tomika Simon, purchased a number of North Baton Rouge properties as investment. Some of them have been transformed into short -term rentals, in some cases for people who enter the city for temporary work in district plants. Others have gone to people who have expressed interest in settlement in the area.

It is encouraging to see local investors are interested in local properties, especially at North Baton Rouge.

We know that New East Baton Rouge Sid Edwards mayor has tackled Blight in North Baton Rouge, a central part of his platform during the campaign, promising to destroy the properties that were scary or used for drug deals S

It should be understood that buying them, repairing them and then selling them to potential long-term residents is a better result.

We hope to continue.