The Hammond, LA metro area housing market in February 2025 presents a complex landscape characterized by declining sales prices and inventory, alongside rising list prices. The Median Sales Price has decreased by 4.7% year-over-year, settling at $238,000. In contrast, the Median List Price has increased by 11.9% to $265,375, indicating a potential gap between seller expectations and buyer willingness.

Price Per Square Foot metrics also reflect this divergence. The median Price Per Square Foot has decreased by 1.1% to $144.53, while the Median List Price per square foot has seen a slight increase of 0.2%, reaching $149.20. This suggests that while sellers are optimistic about pricing, buyers are more cautious, potentially due to economic factors or market saturation.

Sales activity has notably slowed, with Homes Sold dropping by 27.5% year-over-year to 66 units. Pending Sales have also decreased by 15.7%, totaling 97. This decline in sales activity is mirrored by a significant reduction in New Listings, which have plummeted by 50.4% to 70, and inventory, which has decreased by 45.4% to 254. The Months of Supply have dramatically fallen by 130%, indicating a tighter market despite the reduced sales volume.

The Median Days on Market have increased by 4% to 86 days, suggesting that homes are taking longer to sell. This is further evidenced by the average sale to list ratio, which has decreased by 1.7% to 96.2%, and the sold above list ratio, which has slightly declined by 0.6% to 13.6%. These figures indicate that buyers are negotiating more aggressively, and fewer homes are selling above the asking price.

Price adjustments are becoming more common, with Price Drops increasing by 21.6% to 36.2%. This trend suggests that sellers are adjusting their expectations to align with market realities. Additionally, the percentage of homes going off the market in two weeks has decreased by 6.9% to 11.3%, indicating a slower pace of transactions.

Overall, the Hammond, LA housing market in February 2025 is characterized by a decline in sales and inventory, coupled with rising list prices. This suggests a market in transition, with sellers adjusting to changing buyer dynamics and economic conditions. Stakeholders should closely monitor these trends to navigate the evolving landscape effectively.