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Shreveport-Bossier Real Estate Absorption Rates - July 2011

Reblogger
Mortgage and Lending with Fairway Independent Mortgage Corp Louisiana NMLS#2289 Equal Housing Lender NMLS 69996

An excellent blog from Jenny on the Absorption Rate in Shreveport and Bossier City, Louisiana.  the Absorption Rate is he ability of the real estate market to absorb or sell all of the houses for sale in a given amount of time.  Just remember that this does not take into account the number of houses will be listed, and there are new listings daily. 

Original content by Jenny McCarty

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! 

July 2011 Absorption Rates for the Shreveport/Bossier City Area:

 Currently, there are 1832 homes for sale in Shreveport/Bossier City.

Last month 338 homes actually sold.

That’s a 5.4 month supply of homes if no more homes come on the market!

Last month 571 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 801 homes under $150,000 for sale in Shreveport – Bossier City area.

Last month 158 homes actually sold in this range.

That’s a 5.1 month supply of homes if no more homes come on the market!

Last month 247 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 578 homes between $150,001 and $250,000 for sale in the Shreveport – Bossier City area.

Last month 103 homes actually sold in this range.

That’s a 5.6 month supply of home if no more homes come on the market!

Last month 196 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 322 homes between $250,001 and $400,000 for sale in the Shreveport – Bossier City area.

Last month 59 homes actually sold in this range.

That’s a 5.5 month supply of home if no more homes come on the market!

Last month 95 homes came on the market in this range!

 

Homes above $400,001 for sale in the Shreveport – Bossier City area:

 Currently, there are 131 homes above $400,001 for sale in the Shreveport – Bossier City area.

Last month 18 homes actually sold in this range.

That’s a 7.3 month supply of home if no more homes come on the market!

Last month 33 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 [6/13/2011].  It is deemed to be reliable, but not guaranteed

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Comments (2)

Jenny McCarty
JTR Property Network at Keller Williams Realty Red River - Barksdale AFB, LA
"Jenny The Realtor"

Thanks for reposting!  Interesting fact... even though there were more houses for sale than June, we are still selling them just as fast!  Shreveport-Bossier is still going strong =)

Aug 17, 2011 04:26 PM
Louise Thaxton NMLS 69996
Fairway Independent Mortgage Corp Louisiana NMLS#2289 Equal Housing Lender - Leesville, LA
Military Mtg Specialist - 866-960-9115 VA FHA USDA

I know, Jenny - it's awesome to have a market like we do! 

Aug 17, 2011 05:59 PM