The following figures reflect the absorption rates for residential sales for the month of February, 2008. Following the absorption rates on a monthly basis will give you an idea of where the market is headed.

Total
2083 homes for sale
326 homes sold
6+ month supply of homes
664 new listings in February

Homes listed at $150,000 and less
969 homes for sale
216 homes sold
4 1/2 month supply of homes
347 new listings in February

Homes listed at $150,001 to $250,000
678 homes for sale
81 homes sold
8+ month supply of homes
209 new listings in February

Homes listed at $250,001 and $400,000
331 homes for sale
23 homes sold
14+ month supply of homes
86 new listings in February

Homes listed at $400,001 and up
105 homes for sale
6 homes sold
17 1/2 month supply of homes
22 new listings in February

Overall, the Shreveport/Bossier market is transitional/balanced. The best market is for homes listed at $150,000 or below. In fact in that price range, it is a seller’s market. The next price range ($150,001 to $250,000) is a slight buyer’s market. If you are looking to buy a home priced at more than $250,000, you have a large inventory of homes to choose from.

I’ll try to get a graph up showing the data for the past three or four months. No promises, but I’ll try!