Shreveport Real Estate Sees Modest Growth as Supply Tightens in June 2024

The real estate landscape in Shreveport, Louisiana, has shown both steady and fluctuating metrics over the period from July 2023 to June 2024. Tracking the average values, sale price per square foot, property availability, and the number of properties sold provides a comprehensive view of the market’s health and trajectory. Here, we delve into the specifics of these trends, using data from recent months to provide a clearer picture of the real estate scenario in Shreveport.

Average Property Values and Sale Prices

In the last 12 months or so, Shreveport’s real estate market exhibited a slight increase in average property values. In July 2023, properties were valued at $175,117, and this figure grew to $186,950 by June 2024. This gradual increase suggests a growing market where property values are appreciating, albeit at a modest pace.

Similarly, the average sale price of properties also saw an uptrend. For instance, while the average sale price in May 2024 stood at $147,808, it rose to $156,177 by June 2024. These increments reflect an increasing willingness among buyers to invest more in Shreveport’s real estate, possibly driven by improved property features or market conditions favoring sellers.

Sale Price Per Square Foot

The sale price per square foot in Shreveport has been relatively stable but shows a slight uptick toward the end of the observed period. The average sale price per square foot was $97 in May 2024, escalating to $102 by June 2024. This stability, combined with the mild increase, indicates consistent demand and valuation in the market, making property investment in Shreveport a fairly stable venture relative to more volatile markets.

Property Inventory  and Sales Volume

The number of homes available for sale decreased from 745 properties in July 2023 to 926 properties in June 2024. This reduction in available properties can be a pointer towards a tightening market where fewer properties are up for grabs, which could, in turn, be pushing the average property values in Shreveport and sale prices upward due to increased competition among buyers.

Regarding sales volume, the number of properties sold rose to 1,440 by June 2024 from 1,502 in July 2023. This variability shows some flux in buyer activity, but not a definitive trend suggesting a drastic change in market dynamics.

Comparative Analysis with Nearby Cities

When compared to nearby cities like Stonewall, Keithville, Bethany, Greenwood, and Bossier City, Shreveport presents a more budget-friendly option with its lower average values and sale price per square foot.

• Stonewall exhibits higher average values and per square foot sales, positing it as a more expensive market. Such contrasts are crucial for potential buyers or investors in making informed decisions based on budget constraints and investment goals.

The Shreveport real estate market, with its slight but steady increase in property values and relatively stable pricing per square foot, coupled with a tightening supply, exhibits traits of a slowly growing market.