Shreveport Homes Market Analysis, April 2009

By
Real Estate Broker/Owner with Licensed by the Louisiana Real Estate Commission

Comparing the absorption rates for Shreveport and Bossier City single family homes, statistics show favorable numbers for sellers.  There were 43 fewer homes sold this April compared to 2008.  However, there were 239 fewer homes listed for sale this April compared to last April.  What does this mean?  Simply that there is a 6 month supply of homes on the market, and that figure has not changed to any significant degree since last year. 

Market Activity in April -

2008

2009

Closed Transactions: 352 309
Average Homes Sold per Month: 29.33 25.75
     
Listings Currently Active on MLS: 2149 1910
Months of Supply on Market: 6.11 6.18
     
Average List Price: $155,702 $152,626
Average Sales Price: $155,703 $152,709
Average List to Sales Price: 100.00% 98.08%

As you can see, the average list and sales prices are lower this April, but look at the average list to sales price ratio.  Homes are selling at 98% of the listed price.  This means sellers aren't coming down much on their asking price.

What does this mean to you?  It means we are in a seller's market.  Especially in the $250,000 and lower price range.  Homes that are move-in ready and priced right aren't staying on the market long.  You must be ready to make an offer when you see one that fits your criteria.  There's not a lot of time to ponder your decision as a few of my clients found out last week.

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Topic:
Real Estate Market Trends
Location:
Louisiana Caddo Parish Shreveport
Groups:
ABR/REBAC
Louisiana Real Estate
Tags:
shreveport market report
shreveport home buyers
shreveport homes for sale
coldwell banker shreveport
heather goodwin realtor

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