Though the selling season is still strong, the COVID-19 pandemic has caused a 46.8 percent drop in residential listing showings, according to the Greater Baton Rouge Association of Realtors (GBRAR). The drop from this years high on March 11 can be attributed to buyers and sellers respecting the health and safety guidance of government and health officials during this time.
“Closed sales from March 1, 2020 to March 23, 2020 are up 2.7% from the same time period in 2019. The number of listings moved to pending status during March 1, 2020 to March 23,2020 is only 7% short of the number of listings moved to pending status for the entire month of March 2019,” a recent GBRAR press release explained. “These figures show that the typical spring selling season is still in effect, even if the physical part of the purchase process is atypical.”
According to GBRAR’s assessment, the decline began on March 12, one day after Gov. John Bel Edwards declared a public health emergency in response to COVID-19. It then accelerated later on March 15. GBRAR expects the number of showings to remain well below average under the Governor’s Stay-at Home order.