Coldwell Banker Gosslee

The Market at a Glance


July 2019
Posted: August 22, 2019 by Sheryl Garcie

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

July Summary:  Sales were strong.  Average price was up.  Inventory grew slightly.

 

Sales:  Following a three month stretch of missing last year’s sales numbers, July posted a strong month with 482 homes sold versus 454 last year.  The 5 year average for July has been 419 so this 482 number was extremely strong when you compare back even further than last year.  This still leaves YTD home sales trailing last year by –2%, however it is an improvement from the –3% we were tracking at the end of June.  Looking at the tables below, you will see that this decline in unit sales this year is isolated to homes Under $200k.  Meanwhile we have seen a much needed uptick in homes selling Over $400k…especially in Bossier.  

 

Unit Sales YTD by price range vs. last year:



Inventory:   After three months of decline, inventory levels rose slightly last month but we are still well below the inventory levels recorded at this time last year.  There are currently 2,083 homes on the market compared to 2,304 at this time last year.    With 482 homes sold in July and 2,083 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 12.3 month supply and the Over $500k segment has an 18.9 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, and some increase in activity in the luxury market, the average home price was up again in July bringing the year to date average to $190,926 compared to $181,625 at this time last year.   On a price per square foot basis, sale prices so far this year are averaging $95.35 per sq.ft. versus $92.86 last year.    It will be very interesting to see if this increase in the average price holds up throughout the 2nd half of 2019.  

July 2019 Comparative Market Statistics
Shreveport/Bossier, LA – (MLS Zones 1-27 only)




July 2019 Comparative Market Statistics
Shreveport/Bossier, LA – (MLS Zones 1-27 only)

The following figures are through the month of July 2019

 

Currently, there are 2083 total homes for sale in Shreveport/Bossier.

Over the last 12 months, 388 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 730 homes came on the market.

 

Currently there are 378 homes priced below $100,000 for sale in Shreveport/Bossier.

Over the last 12 months, 83 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 123 homes came on the market in this price range.

 

Currently there are 668 homes priced between $100,000 and $199,999 for sale in Shreveport/Bossier.

Over the last 12 months, 153 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 279 homes came on the market in this price range.

 

Currently there are 491 homes priced between $200,000 and $299,999 for sale in Shreveport/Bossier.

Over the last 12 months, 101 homes have sold per month on average in this price range.

That’s a 4.9 month supply of homes if no more homes come on the market.

Last month 195 homes came on the market in this price range.

 

Currently there are 248 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 7.9 month supply of homes if no more homes come on the market.

Last month 75 homes came on the market in this price range.

 

Currently there are 142 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 12.3 month supply of homes if no more homes come on the market.

Last month 27 homes came on the market in this price range.

 

Currently there are 156 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 an 18.9 month supply of homes if no more homes come on the market.

Last month 31 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 08/13/2019
Author: Brad Gosslee of Coldwell Banker Gosslee
Information believed to be accurate but not guaranteed.

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