Where has the time gone? It is already October 1st and I just realized I never posted the Absorption Rates from August! Here they are, so we can move on to September's!
The Absorption Rate is the ability of the real estate market to absorb or sell all of the houses for sale in a given amount of time. For example, if 100 homes are sold every month and there are 1200 homes for sale, it will take 12 months to sell all of the homes currently for sale. If there are 2400 homes for sale, the absorption rate will be 24 months or 2 years for all of the homes to sell. It is important to remember that this does not take into account the number of houses will be listed, and there are new listings daily!
August 2011 Absorption Rates for the Shreveport/Bossier City Area:
Currently, there are 1784 homes for sale in Shreveport/Bossier City.
Last month 325 homes actually sold.
That’s a 5.5 month supply of homes if no more homes come on the market!
Last month 677 homes came on the market!
If you are thinking of selling, you should keep in mind that if you are priced on the high end, that you will be one of those properties that “sit” on the market. Ideally, to sell quickly, you want to be in the lower range close or below the 50% of the comparable homes for sale in your range or neighborhood. Don’t look at it as selling your home for less, because the 3 or 4 months it takes you to sell you will be losing money in your mortgage payment. Not to mention the stress of keeping your home “show” ready for that time. Price it right to begin with and you will sell it fast, make the most money and be able to move on!
Homes under $150,000 for sale in the Shreveport – Bossier City area:
Currently, there are 762 homes under $150,000 for sale in Shreveport – Bossier City area.
Last month 152 homes actually sold in this range.
That’s a 5.0 month supply of homes if no more homes come on the market!
Last month 287 homes came on the market in this range!
Homes Between $150,001 and $250,000 for sale in the Shreveport – Bossier area:
Currently, there are 553 homes between $150,001 and $250,000 for sale in the Shreveport – Bossier City area.
Last month 106 homes actually sold in this range.
That’s a 5.2 month supply of home if no more homes come on the market!
Last month 240 homes came on the market in this range!
Homes Between $250,001 and $400,000 for sale in the Shreveport – Bossier City area:
Currently, there are 336 homes between $250,001 and $400,000 for sale in the Shreveport – Bossier City area.
Last month 54 homes actually sold in this range.
That’s a 6.2 month supply of home if no more homes come on the market!
Last month 116 homes came on the market in this range!
Homes above $400,001 for sale in the Shreveport – Bossier City area:
Currently, there are 133 homes above $400,001 for sale in the Shreveport – Bossier City area.
Last month 13 homes actually sold in this range.
That’s a 10.2 month supply of home if no more homes come on the market!
Last month 34 homes came on the market in this range!
Please note the data provided herein is from the NWLAR Multiple Listing Service (MLS) and was compiled by Brad Gosslee of Coldwell Banker J.Wesley Dowling [9/8/2011]. It is deemed to be reliable, but not guaranteed
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