Coldwell Banker Gosslee

The Market at a Glance


February 2018
Posted: March 26, 2018 by Sheryl Garcie

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

Sales:  Home sales in February 2018 continued the upward trend in homes priced Under $200k.   There were 334 sales this February versus 286 last year.   This continues the above average start for the year as average sales in February over the last 5 years has only been 286.  Looking at the chart below, you will see that the increase in sales for all 3 parishes is completely isolated in the Under $200k price segment.   When you look at Caddo vs Bossier, you will see that both are up in the Under $200k segment but Caddo sales are down for homes Above $200k and Bossier is ahead of last year.   While sales Over $400k are down in Caddo, there are still more sales in this price segment than in Bossier.


Unit Sales YTD by price range vs. last year:

Inventory:   Inventory levels are holding steady as the increase in sales continues to absorb the new inventory that hits the market each month.  There are now 2,128 homes available on the market versus 2,072 at this time last year.    With 334 homes sold in February and 2,128 currently on the market, the Monthly Supply (using the 12 month trailing average) of homes remained steady at 5.6.   Last year at this time the monthly supply was 5.8.  At first glance, this is an overall good balance of buyers and sellers since the target is 6.0 months.  However, for homes priced $400k—$500k and Over $500k we remain deep into a buyer’s market as there are far too many luxury homes on the market for the amount of homes that are selling each month.   The $400k—$500k segment has a 12.5 month supply and the Over $500k segment has a 20.5 month supply.

 

Prices:    With such overweight sales activity in the lower price segments, the average home price for February was only $169,605 which up just a little from last month ($166,197) but is much lower than last year ($180,231).    On a price per square foot basis, sale prices this February averaged $89.99 per sq.ft. versus $85.10 last month and $91.82 last year.

Year to date, the average sale price is now $168,247 versus $181,006 last year and the average price per sq.ft. is now $87.88 versus $91.11 last year.

February 2018 Comparative Market Statistics
Shreveport/Bossier, LA – (MLS Zones 1-27 only)





February 2018 Absorption Rates
Shreveport/Bossier, LA – (Caddo, Bossier, & Desoto Parishes Only)

The following figures are through the month of February 2018


Currently, there are
2128 total homes for sale in Shreveport/Bossier.

Over the last 12 months, 385 homes have sold per month on average.

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

Last month 574 homes came on the market.


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

Over the last 12 months, 95 homes have sold per month on average in this price range.

That’s a 4.6 month supply of homes if no more homes come on the market.

Last month 111 homes came on the market in this price range.


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

Over the last 12 months, 152 homes have sold per month on average in this price range.

That’s a 4.8 month supply of homes if no more homes come on the market.

Last month 219 homes came on the market in this price range.


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

Over the last 12 months, 90 homes have sold per month on average in this price range.

That’s a 5.1 month supply of homes if no more homes come on the market.

Last month 137 homes came on the market in this price range.


Currently there are
239 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
106 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 12.5 month supply of homes if no more homes come on the market.

Last month 24 homes came on the market in this price range.


Currently there are
145 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 20.5 month supply of homes if no more homes come on the market.

Last month 29 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 03/11/2018
Author: Brad Gosslee of Coldwell Banker Gosslee

Information believed to be accurate but not guaranteed.

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