Monroe-area home prices rise 3.4% in August, with houses for sale in high demand
A typical Ouachita Parish home listed for $275,000 in August, up 3.4% from the previous month's $266,000, an analysis of data from Realtor.com shows.
The median list home price in August was up about 9.5% from August 2021. Ouachita Parish's median home was 2,111 square feet for a listed price of $132 per square foot.
The Ouachita Parish market was busy, with a median 50 days on market. A month earlier, homes had a median 37 days on market. The market added 104 new home listings in August, compared with the 148 added in August 2021. The market ended the month with some 198 listings of homes for sale.
The median home prices issued by Realtor.com may exclude much, or even most, of a market's homes. The price and volume represent only homes that are single-family homes, condominiums or townhomes. They include existing homes, but exclude most new construction as well as pending and contingent sales.
Information on your local housing market is available through the USA TODAY Network, with more data from Realtor.com.
What were Monroe-area home prices in August? Here's a county-by-county breakdown
Richland Parish's home prices rose 21.6%, to a median $245,000, from a month earlier. The typical house was on the market for 54 days, from 73 days a month earlier. The typical 2,146-square-foot house had a list price of $110 per square foot.
Union Parish's home prices fell 16.7%, to a median $224,000, from a month earlier. The typical house was on the market for 79 days, from 78 days a month earlier. The typical 2,170-square-foot house had a list price of $114 per square foot.
Across all of Louisiana, median home prices were $288,300, falling 1.3% from a month earlier. The median Louisiana home for sale had 1,919 square feet at list price of $149 per square foot.
Across the United States, median home prices were $435,050, down 3.1% from a month earlier. The median American home for sale had 1,890 square feet, listed at $222 per square foot.
The median home list price — the midway point of all the houses or units listed over a period of time — is used more often in this report instead of the average home list price because experts say the median offers a more accurate view of what's happening in a market. In finding the average price, all prices of homes listed are added and then divided by the number of homes sold. This measure can be skewed by one low or high price.
The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from the Realtor.com residential listings database. The story was written by Mike Stucka and Sean Lahman.
This article originally appeared on Monroe News-Star: Monroe-area homes for sale rise to $275,000 median price
