Coldwell Banker Gosslee

Coldwell Banker Gosslee

The Market at a Glance

November 2017
Posted: December 21, 2017 by Sheryl Garcie

November 2017 Market Overview
Shreveport/Bossier, LA – (Caddo, Bossier, Desoto Parishes only)

November Summary: Sales were down. Average price was down. Plenty of Inventory.

Sales: Home sales in November 2017 were down versus November last year with 320 homes sold versus 350 last year.
However, November was a relatively strong month when you compare it to recent years. Average sales for November
over the last 5 years has only been 293. Year to date, homes sales are up +4% overall with 4168 sold this year versus
4025 last year. You will see in the chart below that this increase is almost all in the Under $100k price range.
When you compare Caddo & Bossier parishes, you will see that sales in Caddo are down while sales in Bossier are up.
Unit Sales YTD by price range vs. last year:

Inventory: Inventory levels peaked back in August and are now well into the seasonal decline, which should continue
until early spring of 2018. There are now 2,152 homes available on the market versus 2,240 at the end of last month and
2,049 at this time last year. With 320 homes sold in November and 2,240 currently on the market, the Monthly Supply
(using the 12 month trailing average) of homes dropped just slightly from 6.0 last month to 5.8 this month. Last year at
this time the monthly supply was 5.7. At first glance, this is a good balance of buyers and sellers overall as the target is 6
months. However, for homes Over $500k, sales have been steady this year but there are far too many luxury homes on
the market for the amount of homes that are selling each month. This is good for buyers but a difficult environment for
sellers of luxury properties, especially older luxury homes in need of updating.

Prices: With such overweight sales activity in the lower price segments, the average home price for November was
only $170,558 which is slightly up from last month ($167,762) and much lower than last year ($186,315). On a price per
square foot basis, sale prices this November averaged $87.94 per sq.ft. versus $86.57 last month and $93.79 last
year. Year to date, the average sale price is now $181,480 versus $185,208 last year and the average price per sq.ft. is
currently $92.11 versus $93.32 last year.

Data Source: Northwest Louisiana Association of Realtors MLS, Inc 12/18/2017
Author: Brad Gosslee of Coldwell Banker Gosslee
Information believed to be accurate but not guaranteed.

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