Coldwell Banker Gosslee

The Market at a Glance


October 2019
Posted: November 20, 2019 by Sheryl Garcie

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

October Summary:  Sales were up.  Average price was up.  Inventory declined.

 

Sales:  For the fourth month in a row, homes sales beat last year month-over-month.   October posted a very strong month with 425 homes sold versus 390 last year.  The 5 year average for October sales has been 365 so this 425 number was extremely strong when you compare back even further than last year.  This brings YTD home sales further into positive territory (now up 78 units through October) which is 2% ahead of last year.   Considering that we were down –3% back in June, we have seen a significant catch up over the last 4 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 declined pretty significantly in October and are now –8% below this time last year.  There are currently 1,991 homes on the market compared to 2,060 last month and 2,173 at this time last year.  With 425 homes sold in October and 1,991 currently on the market, the Monthly Supply (using the 12 month trailing average) dropped to 5.0 which is the lowest we’ve seen in almost 10 years.   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, homes $300k—$400k are fairly balanced, and homes Over $400k 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 a 10.5 month supply (versus 13.4 last year) and the Over $500k segment now has an 16.2 month supply (versus 26.1 last year).

 

Prices:    With there being far fewer sales in the Under $100k price segment this year, along with the increase in activity in the luxury market, the average home price was up again in October bringing the year to date average to $191,115 compared to $181,776 at this time last year.   On a price per square foot basis, sale prices so far this year are averaging $95.48 per sq.ft. versus $92.80 last year.    It will be very interesting to see if this increase in the average price holds up throughout the last couple months of 2019 and into 2020. 

 

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




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

The following figures are through the month of October 2019

 

Currently, there are 1991 total homes for sale in Shreveport/Bossier.

Over the last 12 months, 398 homes have sold per month on average.

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

Last month 620 homes came on the market.

 

Currently there are 415 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 5.0 month supply of homes if no more homes come on the market.

Last month 172 homes came on the market in this price range.

 

Currently there are 694 homes priced between $100,000 and $199,999 for sale in Shreveport/Bossier.

Over the last 12 months, 158 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 231 homes came on the market in this price range.

 

Currently there are 430 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 4.2 month supply of homes if no more homes come on the market.

Last month 122 homes came on the market in this price range.

 

Currently there are 176 homes priced between $300,000 and $399,999 for sale in Shreveport/Bossier.

Over the last 12 months, 33 homes have sold per month on average in this price range.

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

Last month 39 homes came on the market in this price range.

 

Currently there are 122 homes priced between $400,000 and $499,999 for sale in Shreveport/Bossier.

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

That’s a 10.5 month supply of homes if no more homes come on the market.

Last month 21 homes came on the market in this price range.

 

Currently there are 154 homes priced above $500,000 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 16.2 month supply of homes if no more homes come on the market.

Last month 35 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 11/18/2019

Author: Brad Gosslee of Coldwell Banker Gosslee

Information believed to be accurate but not guaranteed.

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