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 -||
|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.