Market Conditions for Shreveport, Louisiana Reported by Bobbie Brasher, REALTOR, CRS, GRI, Assoc. Broker Updated October 15, 2009.

Current Market Rating: 3 1 2 3 4 5 Buyer's Seller's

Current Price Trend: 4 1 2 3 4 5 Falling Rising

Good news again. The absorption rate is better again this month, That is the ratio of homes on the market compared to sales in the same range. However, the abundance of supply and low interest rates still make this a great time to invest in income properties or to purchase a personal residence.
Here are the figures for the month provided by Brad Gosslee of Coldwell Banker Dowling:
Here are some absorption rates for September, 2009:
There were 1664 homes for sale. (Down from 1909 in July)
320 actually sold.
That's a 5.2 monfh supply (compared to a 6.3 month supply in May and 5.5 in July) if no more homes had come on the market.
However, to break it down a bit, there was a 12.9 month supply of homes above $400,000 (compared to a 14.8 month supply in May and 9.8 in July).
There are 142 (compared to 256 in July) homes between $250,000 and $400,000 for sale. Last month 38 44 actually sold. That is a 6.2 month supply if no more homes come on the market (up a little from 5.8 last month). Last month 66 homes came on the market in this range.
There was a 4.1 month supply of homes between $150,000 and $250,000 in September, down from 4.8 in July. Last month, 177 homes came on the market in this range.
Under $150,000, there were 783 homes listed, with a 5.2 month absorbtion rate if no more came on the market. However, 301 came on the market in this price range.

Year to date, the average home price rose 4% in the Shreveport/Bossiier City area. However, in September only, the average home price rose 17%. The median percentages were up even more. Email me for more detailed info.

Quite a difference The rate of sales is better for the Sellers, but it is still a great time to find bargains and get a great low interest rate.
Good time to buy, folks!

The local economy and job market has remained strong and that is ultimately what drives the housing market.
Big new development! An inbound call center to employ about a thousand people is to be located in Shreveport. The commander of the Global Stike Command headquarters at Barksdale Air Force Base has taken his place. The Command will bring in 900 to 1,000 new positions!
In the meantime, Fortune has named Shreveport 15th among top cities for finding new employment.
Another recent development in this area has created a great deal of interest and already made millionaires of some of the local residents. A previously undiscovered shale of natural gas, called the Haynesville Shale, is thought to be one of the largest untapped repository of natural gas in the world.
In addition, the movie business is becoming a bit more entrenched, with permanent facilities being built and several movies being filmed at this time.
The construction of the Cyber Innovation Center, a large research park which will be similar to the very successful one in Huntsville, Alabama is well under way, and is expected to draw top research entities..
Things are popping here in the Shreveport/Bossier area!

ZIP Code: 71101-71127

Approximate Location Boundaries: Shreveport/Bossier/Barksdale

Location Characteristics: The Shreveport/Bossier Ciy area has a combined population about 350,000 with open country and farming communities just outside the city limits. Our moderate climate appeals to sporting enthusiasts, gardeners and visitors alike. The educational, cultural and sporting opportunities, plus the outstanding health care and medical research facilities make this a great place for families, retirees or singles.
Crossed by I-20 and I-49, the area is easy to reach and is also within hours of major urban centers such as Dallas, Houston and New Orleans.
The presence of Barksdale Air Force Base in Bossier creates a major impact on our economy (and makes us very proud, as well). Movie producing has become another big player in our economy. The initial activity was driven by our favorable Louisiana Tax Break and is reinforced by our excellent facilities, professional assistance and our Southern hospitality.
The health care system in Shreveport/Bossier is the most extensive in the state. The LSU Health Sciences Center is a medcal school/research center/health care facility with some of the best care, equipment and facilities in a broad radius - including the adjacent states. Its administration also oversees the state charity hospital system. The BioMed Research Center is drawing some of the prime researchers and companies to Shreveport, as they work in tandem with the Med Center. In addition, Shreveport/Bossier boasts some of the best private health care systems anywhere.
Another facility contributing to the robost economy is the deep water port in south Shreveport.
The area's educational offerings include.Centenary College (a small, but excellent liberal arts school), LSU Shreveport, LA Tech at Barksdale, the Northwestern University School of Nursing, and Bossier Parish Community College.
Gaming on the Red River (which separates Shreveport and Bossier) attracts tourists and continues to drive riverfront development such as Riverwalk and the Red River District for shopping and entertainment.
Please see "Area Market Trends" for other information

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