Coldwell Banker Gosslee

The Market at a Glance


June 2018
Posted: July 24, 2018 by Sheryl Garcie

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


June Summary:  Sales were up.  Average price held steady.  Inventory increased.

Sales:   Holding just above the 500 mark, June posted a second month in a row of over 500 sales.   There were 501 sales this June following 512 in May versus 481 and 451 respectfully in June & May last year.   The average number of sales in June over the last 5 years has only been 432 versus the 501 just posted.  This increase was isolated to the  $100k—$300k price segment.   Overall, this puts sales year to date up +9% compared to last year.  Looking at the chart below, you will see that all price segments are now up versus last year except the Over $500k segment which continues to struggle.  In fact, the Over $500k market now has a higher monthly supply than we have ever seen on record.  When you look at Caddo vs Bossier you will see that Caddo is primarily up in the Under $200k market, while Bossier is selling more houses in the $200k—$400k range.   While sales Over $500k continue to be down in Caddo this year, there are still significantly more total sales in Caddo in this upper price segment than in Bossier. 

Unit Sales YTD by price range vs. last year:



Inventory:   Inventory levels climbed back up in June after declining slightly in May.  There are now 2,285 homes available on the market versus 2,222 last month and 2,308 at this time last year .    With 501 homes sold in June and 2,285 currently on the market, the Monthly Supply of homes (using the 12 month trailing average) moved up slightly from 5.7 in May to 5.8 in June.   Last year at this time the monthly supply was 6.3.  At first glance, this is an overall good balance of buyers and sellers since the target is a 6.0 month supply.  However, for homes priced $400k—$500k and Over $500k, we are climbing further into buyer’s market as there are far too many luxury homes on the market for the amount of homes that are selling each month.   In the last 2 months, the monthly supply in the $400k—$500k segment increased from 14.9 to 16.2, and the Over $500k segment has climbed from 23.4 to a 26.1 month supply.

Prices:    The Average Home Price in June was $190,482 versus $184,485 in May and $190,275 last year.    On a price per square foot basis, sale prices this June averaged $97.19 per sq.ft. versus $94.99 last month and $93.40 last year.
Year to date, the average sale price is now $179,108 versus $182,134 last year and the average price per sq.ft. is now $92.43 versus $91.83 last year.

 

June 2018 Comparative Market Statistics
Shreveport/Bossier, LA – (Caddo, Bossier, Desoto Parishes Only)




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

The following figures are through the month of June 2018


Currently, there are
2285 total homes for sale in Shreveport/Bossier.

Over the last 12 months, 393 homes have sold per month on average.

That’s a 5.8 month supply of homes if no more homes come on the market.

Last month 707 homes came on the market.


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

Over the last 12 months, 97 homes have sold per month on average in this price range.

That’s a 4.7 month supply of homes if no more homes come on the market.

Last month 135 homes came on the market in this price range.


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

Over the last 12 months, 161 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 275 homes came on the market in this price range.


Currently there are
500 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 160 homes came on the market in this price range.


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

Over the last 12 months, 29 homes have sold per month on average in this price range.

That’s an 9.9 month supply of homes if no more homes come on the market.

Last month 75 homes came on the market in this price range.


Currently there are
142 homes priced between $400,000 and $499,999 for sale in Shreveport/Bossier.

Over the last 12 months, 9 homes have sold per month on average in this price range.

That’s a 16.2 month supply of homes if no more homes come on the market.

Last month 35 homes came on the market in this price range.


Currently there are
172 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 26.1 month supply of homes if no more homes come on the market.

Last month 27 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 07/19/2018
Author: Brad Gosslee of Coldwell Banker Gosslee
Information believed to be accurate but not guaranteed.

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