Coldwell Banker Gosslee

The Market at a Glance


April 2017
Posted: May 16, 2017 at 12:00 AM by Sheryl Garcie

Residential Real Estate Sales
April 2017 Market Overview
Shreveport/Bossier, LA – (Caddo, Bossier, Desoto Parishes only)

Summary: Sales are flat.  Prices are stable.  Inventory is climbing (especially over $400k).

Sales:    Home sales in April posted another above average month for unit sales. There were 392 homes sold in April versus 359 last year and 361 on average for April over the last 5 years.    The majority of these sales were in the $100k—$300k range which continues to the be the “sweet spot” for buying activity in this market. This brings unit sales for all prices to 1281 so far this year compared to 1250 last year which is a 2% increase.

As you can see in the numbers below, most activity is in the $100k—$300k price range while homes between $200k-$400k is the price range that is outpacing last year . 

Unit Sales YTD by price range vs. last year:

Price                            2016 YTD        vs        2017 YTD        % Change

Under $100k               317                              331                  4%   

$100k - $200k             529                              504                  -  5%

$200k - $300k             270                              314                  16%

$300k - $400k             80                                86                    8%

$400k - $500k             25                                23                    -  8%

Over $500k                 29                                24                    -  17%

Total                            1250                            1281                  2%

Inventory:    From an overall view, the market appears to be very balanced…..and for most price ranges it is. With 2165 homes currently on the market and 362 homes selling on average per month, the monthly supply of homes is right at a 6.0 month supply.   This is just where a balanced market should be as the benchmark for a balanced market is a 6 month supply.   However, when you drill down and look at the $400k—$500k and the Over $500k markets, the story is very different from the rest.   We are seeing a significant increase in homes over $400k continuing to hit the market, causing this already oversupplied segment to reach inventory levels we have never seen in our market.   These price ranges have far too much inventory for the amount of current monthly sales.   These price segments are now at a 15.4 month and 21.3 month supply respectfully.   This puts these price ranges heavily into a buyer’s market.  Thus making it a difficult time for these sellers but it is a great time for “move-up” buyers to sell their current home and take advantage of still historically low interest rates to get a great deal on the bigger house they have always wanted.

Prices:    The average price in April was $173,734 compared to $169,820 last month and $190,573 last year.   On a price per square foot basis, sale prices in April averaged $88.57 per sq.ft. versus $88.67 last month and $95.72 last year.  Year to date, the average sale price is now $176,286 versus $179,243 last year and the average price per sq.ft. is now $89.83 versus $90.83 last year.

Residential Real Estate Sales
April 2017 Comparative Market Statistics
Shreveport/Bossier, LA – (Caddo, Bossier, Desoto Parishes Only)





Residential Real Estate Sales
April 2017 Absorption Rates
Shreveport/Bossier, LA – (Caddo, Bossier, & Desoto Parishes Only)

The following figures are through the month of April 2017

 

Currently, there are 2165 total homes for sale in Shreveport/Bossier.

Over the last 12 months, 362 homes have sold per month on average.

That’s a 6.0 month supply of homes if no more homes come on the market.

Last month 728 homes came on the market.

 

Currently there are 432 homes priced below $100,000 for sale in Shreveport/Bossier.

Over the last 12 months, 79 homes have sold per month on average in this price range.

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

Last month 153 homes came on the market in this price range.

 

Currently there are 803 homes priced between $100,000 and $199,999 for sale in Shreveport/Bossier.

Over the last 12 months, 148 homes have sold per month on average in this price range.

That’s a 5.4 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 459 homes priced between $200,000 and $299,999 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 4.9 month supply of homes if no more homes come on the market.

Last month 166 homes came on the market in this price range.

 

Currently there are 204 homes priced between $300,000 and $399,999 for sale in Shreveport/Bossier.

Over the last 12 months, 27 homes have sold per month on average in this price range.

That’s a 7.5 month supply of homes if no more homes come on the market.

Last month 63 homes came on the market in this price range.

 

Currently there are 118 homes priced between $400,000 and $499,999 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 15.4 month supply of homes if no more homes come on the market.

Last month 44 homes came on the market in this price range.

 

Currently there are 149 homes priced above $500,000 for sale in Shreveport/Bossier.

Over the last 12 months, 7 homes have sold per month on average in this price range.

That’s a 21.3 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 05/12/2017 
Author: Brad Gosslee of Coldwell Banker Gosslee

Information believed to be accurate but not guaranteed.

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