Coldwell Banker Gosslee

The Market at a Glance


September 2019
Posted: October 28, 2019 by Sheryl Garcie

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

September Summary:  Sales were up.  Average price was up.  Inventory increased slightly.

 

Sales:  For the third month in a row, homes sales beat last year month-over-month bringing sales year to date ahead of last year for the first time in 2019.  September posted a very strong month with 415 homes sold versus 358 last year.  The 5 year average for September sales has been 365 so this 415 number was extremely strong when you compare back even further than last year.  This swings YTD home sales from negative (down –10 in August) to positive (up +41 through September) which is +1% ahead of last year.   Considering that we were down –3% back in June, we have seen a significant catch up over the last 3 months.  Looking at the tables below, you will see that the underperforming segment is now isolated only to homes Under $100k.  Meanwhile we have seen a much needed uptick in homes selling $200k and above.   The increased activity in homes Over $500k is the most surprising especially in Bossier Parish.

 

Unit Sales YTD by price range vs. last year:


Inventory:   Listing inventory levels rose just slightly in September but are still well below last year.  There are currently 2,060 homes on the market compared to 2,044 last month and 2,153 at this time last year.    With 415 homes sold in September and 2,044 currently on the market, the Monthly Supply (using the 12 month trailing average) remained unchanged at 5.2.   Last year at this time the monthly supply was 5.5.  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 in this report 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 but we are much improved from the drastic levels we saw at this time last year.   The $400k—$500k segment now has an 11.5 month supply (versus 13.4 last year) and the Over $500k segment now has an 16.7 month supply (versus 26.6 last year).

 

Prices:    With there being far fewer sales in the Under $100k price segment this year, and some increase in activity in the luxury market, the average home price was up again in September bringing the year to date average to $192,056 compared to $182,786 at this time last year.   On a price per square foot basis, sale prices so far this year are averaging $96.13 per sq.ft. versus $93.08 last year.    It will be very interesting to see if this increase in the average price holds up throughout the last few months of 2019.  

September 2019 Comparative Market Statistics
Shreveport/Bossier, LA – (Caddo, Bossier, Desoto Parishes only)





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

The following figures are through the month of September 2019

 

Currently, there are 2060 total homes for sale in Shreveport/Bossier.

Over the last 12 months, 397 homes have sold per month on average.

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

Last month 584 homes came on the market.

 

Currently there are 401 homes priced below $100,000 for sale in Shreveport/Bossier.

Over the last 12 months, 82 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 123 homes came on the market in this price range.

 

Currently there are 705 homes priced between $100,000 and $199,999 for sale in Shreveport/Bossier.

Over the last 12 months, 160 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 234 homes came on the market in this price range.

 

Currently there are 474 homes priced between $200,000 and $299,999 for sale in Shreveport/Bossier.

Over the last 12 months, 103 homes have sold per month on average in this price range.

That’s a 4.6 month supply of homes if no more homes come on the market.

Last month 134 homes came on the market in this price range.

 

Currently there are 199 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 6.3 month supply of homes if no more homes come on the market.

Last month 41 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 25 homes came on the market in this price range.

 

Currently there are 153 homes priced above $500,000 for sale in Shreveport/Bossier.

Over the last 12 months, 9 homes have sold per month on average in this price range.

That’s a 16.7 month supply of homes if no more homes come on the market.

Last month 27 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 10/17/2019

Author: Brad Gosslee of Coldwell Banker Gosslee

Information believed to be accurate but not guaranteed.

Loading Comments
Real Estate Links Our Domains