Coldwell Banker Gosslee

Coldwell Banker Gosslee

The Market at a Glance


November 2018
Posted: December 19, 2018 by Sheryl Garcie

November Market Overview
Shreveport/Bossier, LA – (Caddo, Bossier, Desoto Parishes only)

November Summary:  Sales were flat.  Average price was up.  Inventory declined slightly.

Sales:   Sales were flat this November with 318 sales vs 320 last year.   It was still an above average month though as the 5 year average for November is 301.  All price categories Above $200k were up slightly this year versus last while homes Under $200k were down slightly.  Overall, this puts sales year to date up +5% compared to last year.  Looking at the chart below, you will see that all price segments are up versus last year except the Over $500k segment which continues to struggle.  The Over $500k market remains at the highest monthly supply we have ever seen on record.  When you look at Caddo vs Bossier you will see that Caddo is primarily up in the Under $200k market and surprisingly up in the $400k—$500k segment.  Meanwhile Bossier is selling more houses in the $200k—$400k range.   Sales Over $500k continue to be down in Caddo this year, but there are still significantly more total sales in Caddo in this upper price segment than in Bossier.   

Unit Sales YTD by price range vs. last year:

 

Inventory:   Listing inventory peaked back in July and has been in a seasonal decline since then.  There are now 2,130 homes available on the market versus 2,304 back in July and 2,152 at this time last year.  With 318 homes sold in November and 2,130 currently on the market, the Monthly Supply of homes (using the 12 month trailing average) dropped slightly last month from 5.5 to 5.4.   Last year at this time the monthly supply was 5.8.  At first glance, this is an overall good balance of buyers and sellers since the target is a 6.0 month supply.  However, for homes priced $400k—$500k and Over $500k, we are still deep into a buyer’s market as there are far too many luxury homes on the market for the amount of homes that are selling each month. 

 Prices:    The Average Home Price in November was $187,829 versus $172,861 last month and $170,558 last year.    On a price per square foot basis, sale prices this November averaged $95.77 per sq.ft. versus $90.43 last month and $87.94 last year.  Year to date, the average sale price is now $182,309 versus $181,480 last year and the average price per sq.ft. is now $93.06 versus $92.11 last year.

November 2018 Comparative Market Statistics
Shreveport/Bossier, LA – (Caddo, Bossier, Desoto Parishes only)




November 2018 Absorption Rates

Shreveport/Bossier, LA – (Caddo, Bossier, & Desoto Parishes Only)

The following figures are through the month of November 2018


Currently, there are
2130 total homes for sale in Shreveport/Bossier.

Over the last 12 months, 394 homes have sold per month on average.

That’s a 5.5 month supply of homes if no more homes come on the market.

Last month 513 homes came on the market.


Currently there are
453 homes priced below $100,000 for sale in Shreveport/Bossier.

Over the last 12 months, 94 homes have sold per month on average in this price range.

That’s a 4.8 month supply of homes if no more homes come on the market.

Last month 98 homes came on the market in this price range.


Currently there are
697 homes priced between $100,000 and $199,999 for sale in Shreveport/Bossier.

Over the last 12 months, 159 homes have sold per month on average in this price range.

That’s a 4.4 month supply of homes if no more homes come on the market.

Last month 206 homes came on the market in this price range.


Currently there are
486 homes priced between $200,000 and $299,999 for sale in Shreveport/Bossier.

Over the last 12 months, 93 homes have sold per month on average in this price range.

That’s a 5.2 month supply of homes if no more homes come on the market.

Last month 127 homes came on the market in this price range.


Currently there are
221 homes priced between $300,000 and $399,999 for sale in Shreveport/Bossier.

Over the last 12 months, 32 homes have sold per month on average in this price range.

That’s an 7.0 month supply of homes if no more homes come on the market.

Last month 40 homes came on the market in this price range.


Currently there are
109 homes priced between $400,000 and $499,999 for sale in Shreveport/Bossier.

Over the last 12 months, 10 homes have sold per month on average in this price range.

That’s a 11.3 month supply of homes if no more homes come on the market.

Last month 20 homes came on the market in this price range.


Currently there are
164 homes priced above $500,000 for sale in Shreveport/Bossier.

Over the last 12 months, 6 homes have sold per month on average in this price range.

That’s a 25.9 month supply of homes if no more homes come on the market.

Last month 22 homes came on the market in this price range.

Important Note: A 6 month supply is considered to be a balanced market.
Under 6 months is a seller’s market.
Over 6 months is a buyer’s market.

Data Source: Northwest Louisiana Association of Realtors MLS, Inc 12/17/2018 
Author: Brad Gosslee of Coldwell Banker Gosslee
Information believed to be accurate but not guaranteed.

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