Coldwell Banker Gosslee

The Market at a Glance


June 2017
Posted: July 21, 2017 at 12:00 AM by Coldwell Banker Gosslee

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


Summary: Sales are ahead of last year.  Average price is lower.  Inventory is climbing.

Sales:    June posted a strong finish to the first half of year 2017.    Unit sales this June beat last year’s June (which was the best month of 2016) and posted the highest unit sales month in 10 years.   There were 481 homes sold in June versus 461 last year and 411 on average for June 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 2213 through Q2 of 2017 compared to 2153 last year which is a 3% increase.

The most surprising statistic for June was that there were 16 sales in the Over $500k price range, which only averages 7 sales per month.   June is almost always the strongest month of the year for closings but we have never seen 16 sales over $500k in one month.   This caught up this price segment significantly for the year.  These sales propelled this price segment from being down –20% in May to only down -6% after June.  I would not expect a repeat performance in July though.   

Unit Sales YTD by price range vs. last year:

Price                            2016 YTD        vs        2017 YTD        % Change

Under $100k               495                              545                  10% 

$100k - $200k             895                              872                  -  3%

$200k - $300k             513                              529                  3%

$300k - $400k             163                              168                  3%

$400k - $500k             49                                53                    8%

Over $500k                 49                                46                    -  6%

Total                            2153                            2213                  3%

Inventory:    Inventory has now climbed to a level we have not seen since the summer of 2007.  This is okay so long as homes sales continue at their current pace, but it will be problematic for sellers should buying activity slow down.   With 2308 homes currently on the market and 364 homes selling on average per month, we now have a 6.3 month supply. This is up from 6.2 last month and 6.0 this time last year.  Remember a balanced market benchmark is considered a 6 month supply.   In June, unlike recent months, it was homes under $300k that saw the majority of new listings hit the market. It will be interesting to see if sales in July & August can absorb these.  Meanwhile, the $400k—$500k and the Over $500k price segments remain heavily in a buyer’s market at a 15.1 month and 21.3 month supply respectfully.     

Prices:    The average price in June was $190,275 compared to $190,160 last month and $202,115 in June of last year.   On a price per square foot basis, sale prices in June averaged $93.40 per sq.ft. versus $95.93 last month and $96.63 last year.  Year to date, the average sale price is now $182,134 versus $184,956 at this time last year and the average price per sq.ft. is now $91.83 versus $92.52 last year.

June 2017 Comparative Market Statistics
Shreveport/Bossier, LA – (Caddo, Bossier, Desoto Parishes Only)


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

The following figures are through the month of June 2017

Currently, there are 2308 total homes for sale in Shreveport/Bossier.
Over the last 12 months, 364 homes have sold per month on average.
That’s a 6.3 month supply of homes if no more homes come on the market.

Last month 749 homes came on the market.

Currently there are 461 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 5.6 month supply of homes if no more homes come on the market.
Last month 136 homes came on the market in this price range.

Currently there are 844 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 5.7 month supply of homes if no more homes come on the market.
Last month 303 homes came on the market in this price range.

Currently there are 504 homes priced between $200,000 and $299,999 for sale in Shreveport/Bossier.
Over the last 12 months, 91 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 175 homes came on the market in this price range.

Currently there are 223 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 8.2 month supply of homes if no more homes come on the market.
Last month 72 homes came on the market in this price range.

Currently there are 123 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 15.1 month supply of homes if no more homes come on the market.
Last month 33 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, 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 30 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 07/17/2017
Author: Brad Gosslee of Coldwell Banker Gosslee
Information believed to be accurate but not guaranteed.


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