This August, we wish to introduce a new format for the monthly market highlights and hope this will prove helpful to you. 

MARKET HIGHLIGHTS

Below, please find national real estate housing infographics. Since it is said that all real estate is local, we are following this up with a summary of the Louisiana market. We think you'll be most interested in what is happening here, but it helps to be aware of national market trends. Going forward, we'll begin to use this format to share monthly market data.

Snapshot for the month of June in Louisiana:

• Pending sales are down 8.9%
• Closed sales are down 9.5%

However:

• Homes are selling 25% faster
• Average sales prices have gone up almost 10%
• New listings are up are up 1.8%

Challenges:

• Low inventory
• Rising interest rates
• Homeowners insurance issues
• Flood insurance rates

Yet despite the market challenges above, this remains a Seller's Market. Though we are witnessing higher inventory, it is still NOT enough to keep up with strong demand. Experts predict home pricing will not increase as they did last year, but will continue do so steadily and gradually. 

To observe where things are now on the national level -- keeping in mind that the data runs one month behind -- please see the most recent figures provided on these graphics by the National Association of Realtors. Then scroll down for Louisiana Data from the Gulf South Real Estate Information Network:

National Market Data: 

Louisiana Market Summary

• Pending Home Sales: 1,404 homes under contract [Gulf Real Estate Information Network]
• In 2021 = 1,527 or 8.1% more than current data
• Change Year to Date = -8.9%
• Closed Homes Sales: 1,456 completed transactions [Gulf South Real Estate Information Network]
• In 2021 = 1,756 or 17.1% more than current data
• Change Year to Date = -9.5%
• Length of Time on Market: 24 days [Gulf South Real Estate Information Network]
• In 2021 = 32 days or now selling 25% faster than last year
• Change Year to Date = +25% faster 
• Median Home Price: $371,324 [Gulf South Real Estate Information Network]
• In 2021 = $350,557 or now selling +5.9% higher than last year
• Change Year to Date = +9.6%
• New Listings: 2,093 [Gulf South Real Estate Information Network]
• In 2021 = 1,922 or 8.9% less than current data
• Change Year to Date = +1.8% more

We hope you've enjoyed this new format for our market report, and that you will embrace the last days of Summer while beginning preparations on your home for Fall. 

If we may help in any way with your home buying and selling needs, please don't hesitate to reach out. May we meet up somewhere at one of our community events, or on a sunny sidewalk as Fall approaches. 

Until then, have a safe and happy August!

Cordially,

Melissa and Rae

THE MELISSA MULLIS

PROPERTY GROUP

STUNNING 4 BED/2 BATH HOME WITH OFFICE

1085 FOX SPARROW LOOP, MADISONVILLE. LOUISIANA 70447

NEW LISTING/ RESIDENTIAL/ MLS# 2356266/ 4 BEDROOMS

2 BATHS/ 2,084 SQ. FT/ BUILT IN 2019

Open concept living and kitchen with tile wood look floors. Custom Cypress shelves in living area to remain as well as Cypress desk in office. Stainless appliances, beautiful Quartz counters and designer backsplash in kitchen located off garage, mud area and laundry. Spacious Primary bedroom with French doors leads to primary bath with separate soaker tub/shower and double vanities. 3 additional bedrooms share dual sink bath with Quartz counters. Backs to greenspace, Flood zone C.  

OFFERED AT $ 398,000

CLICK HERE TO VIEW LISTING

Kim Roberts

Theo Manale

Cade Couvillion

Vicky Powers

Kerry & Dori Greer

Katherine Fradella + Paul Alexius Jr

Paul Alexius Sr

Casey + Shelby McGann

THANK YOU FOR LETTING US HELP YOU FIND YOUR WAY HOME 

• Recurring Monthly on 3rd Thursday - Abita Springs Songwriters' Circle - for more info, click here
• Recurring Monthly on Last Friday - Creole Tomateaux Food Truck Fridays - for more info, click here
• Recurring Weekly on Sunday - Madisonville Makers' Market - for more info, click here
• Recurring till September 5 - Louisiana River Adventures [Kayaking, Tubing, Canoeing] - for more info click here
• August 13 – Dirty Linen Night – for more info, click here
• August 13 – White Linen and Lagniappe – click here
• August 19 – Sunset at the Landing Concert – click here          
• August 20 – Lemonpalooza – click here
• August 26 – Columbia Street Block Party – click here
• October 15-16 - 31st Annual Madisonville Wooden Boat Festival - for more info, click here

• Abita Springs Art + Farmers' Market - Sundays 11:00 am to 3:00 pm - for more info, click here
• Covington Farmers' Market - Wednesdays 10:00 am to 2:00 pm and Saturdays 8:00 am to 12:00 pm - for more info, click here
• Farmers' Market at Giddy Up Folsom - Saturdays - for more info, click here
• Mandeville Community Market - Saturdays 9:00 am to 1:00 pm for more info, click here
• Madisonville Market - Sundays 10:00 am to 3:00 pm - for more info, click here

  CURATED CONTENT 

• 38 Outdoor Decoration Ideas to Welcome Fall [Southern Living]
• 310 Best Fall Decorating Ideas for 2022 [Pinterest]
• 60+ Fall Decorating Ideas to Turn Your Home into an Autumnal Oasis [ ELLE Décor]                                                                           
• 66 Simple Fall Crafts for Kids and Families [Country Living]
• 40 Best Fall Casseroles for Pure Weeknight Dinner Comfort [Country Living]
• 32 Cozy Fall Date Ideas for Autumn [Woman’s Day]       
• 85 Best Fall Crafts for Adults That Are Easy and Fun to DIY [Good Housekeeping]
• HOME VALUES:  Which Upgrades Increase Home Value?  25 High Return-on-Investment Improvements That Buyers Will Love[Homelight]
• CURB APPEAL: :  10 Easy DIY Curb Appeal Ideas [Family Handyman]