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!
The following figures are for the month of January 2013.
In the entire Shreveport/Bossier market there are 1920 Homes For Sale.
Last month only 244 homes actually sold!
That’s a 7 ½ month supply of homes if no more homes come on the market.
Last month 587 homes came on the market.
If you are thinking of selling a home in the Shreveport-Bossier City Real Estate market, 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!
Currently there are 138 homes above $401,000 for sale in Shreveport/Bossier.
Last month only 8 homes actually sold.
That’s a 17 month supply of homes if no more homes come on the market.
Last month 45 homes went on the market.
Currently there are 355 homes priced between $251,000 and $400,000 for sale in Shreveport/Bossier.
Last month only 33 homes actually sold.
That’s a 10 ½ month supply of homes if no more homes come on the market.
Last month 105 homes went on the market.
Currently there are 646 homes priced between $151,000 and $250,000 for sale in Shreveport/Bossier.
Last month only 94 homes actually sold.
That’s a 6 ½ month supply of homes if no more homes come on the market.
Last month 203 homes went on the market.
Currently there are 781 homes priced under $150,000 for sale in Shreveport/Bossier.
Last month only 109 homes actually sold.
That’s a 7 month supply of homes if no more homes come on the market,
Last month 234 homes went on the market.
www.JennyTheRealtor.com
Jenny Hogue-McCarty, REALTOR®
Realty Executives SB | 4012 Benton Road, Suite 110, Bossier City, LA 71111
Independently owned and operated. | Licensed by the Louisiana Real Estate Commission
*Information based on data supplied by NWLA MLS published Feb. 7th, 2013. Neither association nor Realty Executives SB is anyway responsible for accuracy. Data may not reflect all real estate transactions in the market.
Each Franchise is Independently Owned & Operated / Licensed by the Louisiana Real Estate Commission
Realty Executives SB, 8575 Fern Ave., Suite 105, Shreveport, LA 71105 (318) 868-3600
Realty Executives SB, 4012 Benton Rd. Suite110, Bossier City, LA (318) 746-8000
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