Coldwell Banker Gosslee

The Market at a Glance


September 2017
Posted: October 16, 2017 at 12:00 AM by Sheryl Garcie

September 2017 Market Overview

Shreveport/Bossier, LA – (Caddo, Bossier, Desoto Parishes only)

September Summary: Sales are up.  Prices are flat.  Inventory is plentiful.

Sales:  With 3 quarters of 2017 in the books, home sales are looking like they will certainly outperform last year.    September 2017 posted 376 home sales compared to 361 in September last year.   The average for September sales over the past 5 years has been 343 so this September was another strong month for sales.  This brings unit sales YTD to 3454 versus 3315 at this time last year (up 4%).   

As you can see in the numbers below, home sales are ahead of last year in all price segments except the Over $500k market which is only down by 2 homes versus last year.  

Unit Sales YTD by price range vs. last year:

Price                            2016 YTD        vs        2017 YTD        % Change

Under $100k               736                              818                  11% 

$100k - $200k             1362                            1363                No Change

$200k - $300k             816                              849                  4%

$300k - $400k             252                              269                  7%

$400k - $500k             73                                81                    11%

Over $500k                 76                                74                    -  3%

Total                            3315                            3454                4.2%

Inventory:   Inventory levels appear have peaked for 2017 and are now in their seasonal decline for the rest of the year.  There are now 2,260 homes available on the market versus 2,273 at the end of last month and 2,129 at this time last year.    With 376 homes sold in September and 2,260 currently on the market, the Monthly Supply (using the 12 month trailing average) of homes is now at 6.1 which is unchanged from last month and up just slightly from last year.  This is an all around healthy market for both buyers and sellers in most price ranges.   For homes over $400k, sales are consistent with year’s past (average 8 sales per month for $400k—$500k and 7 per month for Over $500k) but we still have too many luxury homes on the market for the amount of homes that are selling each month.   With interest rates still at historic lows, this is a great time for “move up” buyers to sell a home below $300k and buy a home over $400k.  

Prices:    The average home price for September was $187,494 which is up from August ($181,035) and is up compared to last year ($185,957).    On a price per square foot basis, sale prices in September averaged $95.02 per sq.ft. versus $93.16 last month and $94.33 last year.  Year to date, the average sale price is now $184,010 versus $185,985 last year and the average price per sq.ft. is currently $93.14 versus $93.23 last year.

September 2017 Comparative Market Statistics
Shreveport/Bossier, LA – (MLS Zones 1-27 only)




September 2017 Absorption Rates
Shreveport/Bossier, LA – (Caddo, Bossier, & Desoto Parishes Only)

The following figures are through the month of September 2017

Currently, there are 2260 total homes for sale in Shreveport/Bossier.
Over the last 12 months, 372 homes have sold per month on average.
That’s a 6.1 month supply of homes if no more homes come on the market.

Last month 613 homes came on the market.

Currently there are 477 homes priced below $100,000 for sale in Shreveport/Bossier.
Over the last 12 months, 86 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 127 homes came on the market in this price range.

Currently there are 806 homes priced between $100,000 and $199,999 for sale in Shreveport/Bossier.
Over the last 12 months, 147 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 247 homes came on the market in this price range.

Currently there are 484 homes priced between $200,000 and $299,999 for sale in Shreveport/Bossier.

Over the last 12 months, 93 homes have sold per month on average in this price range.
That’s a 5.2 month supply of homes if no more homes come on the market.
Last month 148 homes came on the market in this price range.

Currently there are 241 homes priced between $300,000 and $399,999 for sale in Shreveport/Bossier.
Over the last 12 months, 28 homes have sold per month on average in this price range.
That’s an 8.6 month supply of homes if no more homes come on the market.
Last month 54 homes came on the market in this price range.

Currently there are 112 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 13.2 month supply of homes if no more homes come on the market.
Last month 19 homes came on the market in this price range.

Currently there are 140 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 19.5 month supply of homes if no more homes come on the market.
Last month 18 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 10/13/2017
Author: Brad Gosslee of Coldwell Banker Gosslee
Information believed to be accurate but not guaranteed.

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