Coldwell Banker Gosslee

The Market at a Glance


June 2019
Posted: July 10, 2019 by Sheryl Garcie

June 2019 Market Overview
Shreveport/Bossier, LA – (Caddo, Bossier, Desoto Parishes only)

June Summary:  Sales were below average.  Average price was up.  Inventory declined again.

 

Sales:  Compared to recent months, June was a relatively weak month for home sales with 452 homes sold compared to last year’s June of 501.  It was also below the 5 year average for June of 461.  This puts YTD home sales trailing last year by –3% through the first half of the year.  Looking at the tables below, you will see that this decline in unit sales is isolated to homes Under $200k.  Meanwhile we have seen a much needed uptick in homes selling Over $400k…especially in Bossier.   Another point of note is that homes between $300k—$400k had a record month in June with 58 sales compared to an average of 31.

 

Unit Sales YTD by price range vs. last year:



Inventory:   Inventory levels declined again last month which is highly unusual for this time of year.  There are currently 2,066 homes on the market compared to 2,285 at this time last year.    With 452 homes sold in June and 2,066 currently on the market, the Monthly Supply (using the 12 month trailing average) remained unchanged from last month at 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 with a slight advantage for sellers, since the target is 6.0 months.  However, when you take a closer look, you will see that homes Under $300k are in a seller’s market and homes Over $300k are in a buyer’s market.  For homes priced Over $500k we remain 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.   The $400k—$500k segment has a 11.5 month supply and the Over $500k segment has a 19.8 month supply.   This is better than where we were last year though.

 

Prices:    With there being less sales in the Under $100k and the $100k—$200k price segments this year, the average home price was up again in June bringing the year to date average to $188,382 compared to $179,108 at this time last year.   On a price per square foot basis, sale prices so far this year are averaging $94.25 per sq.ft. versus $92.43 last year.    It will be very interesting to see if this increase in the average price holds up throughout the 2nd half of 2019.  

June 2018 Comparative Market Statistics
Shreveport/Bossier, LA – (Caddo, Bossier, Desoto Parishes Only)





June 2019 Absorption Rates
Shreveport/Bossier, LA – (Caddo, Bossier, & Desoto Parishes Only)

The following figures are through the month of June 2019

 

Currently, there are 2066 total homes for sale in Shreveport/Bossier.

Over the last 12 months, 385 homes have sold per month on average.

That’s a 5.4 month supply of homes if no more homes come on the market.

Last month 651 homes came on the market.

 

Currently there are 363 homes priced below $100,000 for sale in Shreveport/Bossier.

Over the last 12 months, 84 homes have sold per month on average in this price range.

That’s a 4.3 month supply of homes if no more homes come on the market.

Last month 97 homes came on the market in this price range.

 

Currently there are 686 homes priced between $100,000 and $199,999 for sale in Shreveport/Bossier.

Over the last 12 months, 152 homes have sold per month on average in this price range.

That’s a 4.5 month supply of homes if no more homes come on the market.

Last month 267 homes came on the market in this price range.

 

Currently there are 495 homes priced between $200,000 and $299,999 for sale in Shreveport/Bossier.

Over the last 12 months, 99 homes have sold per month on average in this price range.

That’s a 5.0 month supply of homes if no more homes come on the market.

Last month 170 homes came on the market in this price range.

 

Currently there are 237 homes priced between $300,000 and $399,999 for sale in Shreveport/Bossier.

Over the last 12 months, 31 homes have sold per month on average in this price range.

That’s an 7.6 month supply of homes if no more homes come on the market.

Last month 60 homes came on the market in this price range.

 

Currently there are 128 homes priced between $400,000 and $499,999 for sale in Shreveport/Bossier.

Over the last 12 months, 11 homes have sold per month on average in this price range.

That’s a 11.5 month supply of homes if no more homes come on the market.

Last month 32 homes came on the market in this price range.

 

Currently there are 157 homes priced above $500,000 for sale in Shreveport/Bossier.

Over the last 12 months, 8 homes have sold per month on average in this price range.

That’s a 19.8 month supply of homes if no more homes come on the market.

Last month 25 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 07/08/2019
Author: Brad Gosslee of Coldwell Banker Gosslee
Information believed to be accurate but not guaranteed.

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