Shreveport Property Values Climbing, Average Hits $184,750 in May 2024

Shreveport, Louisiana has experienced an upward trend in real estate values over the past year. As of May 2024, the average value of properties stands at $184,750, marking a steady rise from $174,579 a year earlier. This increase reflects a growing interest in the region’s real estate market. Similarly, the average price per square foot has escalated from $97 to $102 during the same period, indicating a consistent appreciation in property value.

Analysis of Property Sale Trends and Prices

The number of properties listed and the properties sold in Shreveport show fluctuations with no definitive upward or downward pattern. For example, although there were 1694 sold properties in November 2023, other months like May 2024 witnessed 1412 sales. Despite these variations, the average sale price of properties remained relatively stable. In February 2024, the average sale price per square foot was $97, which holds steady as of May 2024. While the average property values have shown an increase, the sale prices per square foot indicate a more stable market where the sale price is concerned.

Comparison with Nearby Cities

When Shreveport is compared with nearby cities such as Stonewall, Keithville, and Bossier City, diverse trends emerge:

• Stonewall stands out with a significantly higher average property value of $334,950 and a price per square foot of $173 as of May 2024.
• This contrasts with Keithville, where the average value is notably lower at $167,500, but with a higher average sale price per square foot ($119.5) than Shreveport.
• Bossier City features an average property value of $249,900 with a sale price per square foot pegged at $124, showing both a higher property valuation and sale price per square foot compared to Shreveport.

Implications for Potential Homebuyers and Investors

The data from Shreveport and its vicinity suggests varied investment opportunities. For instance, Shreveport’s growing property values and relatively steady sale prices per square foot offer a stable market for new homebuyers and real estate investors. In contrast, cities like Stonewall indicate a higher market valuation which might appeal to those looking for premium property investments. Meanwhile, Keithville presents an interesting scenario where the average sale price per square foot exceeds the average value, possibly indicating undervalued properties which could yield higher returns upon resale.

Understanding these trends is crucial for making informed decisions in real estate investments and choosing the right city based on one’s financial goals and market insights.