Are We in a Buyer or Seller’s Market?

I hear this all the time when working with my buyers and sellers.  “So who has the advantage in the Shreveport/Bossier area market?  The buyer or the seller?”  And that is such a fantastic question but it is more complicated than that.  At least it used to be.

First, we need to define terms.  A Seller’s Market is one where the supply of homes for sale is low as compared to the available buyers … so the demand is higher than what is actually available.  A Buyer’s Market is the inverse of that.  It is one where the supply of homes for sale is high compared to the available buyers … so the supply of property is higher than demand.  Got that?  Good!!  🙂

Since 2021 all throughout the country most markets are collectively classified as “Sellers’ Markets”.  Certain places of the country that traditionally have a lot of turn-over and influx include: Layton, Utah; Frisco, Texas; Colorado Springs, Colorado; Lakeland, Florida and Atlanta, Georgia to name a few.  These places have become Hyper-Competitive where the Seller absolutely has the advantage.

So what about the Shreveport/Bossier City area?  Well, as each city (whether small or large) can attest, there are sub-groups or microcosms that exist in all area.  While a metropolitan area as a whole might be classified as a “buyer or seller’s market” there are always pockets within a city that defy the statistics.

Our area is no different.

Overall the Shreveport/Bossier area has been very stable for many, many years.  The economy is doing very well which is anchored by Barksdale AFB, Industry and Gaming with more of the same coming to our location annually.  Inventory and supply here has followed the National trend and our market is no doubt a “Sellers Market”.  Inventory has fluctuated between .5 and 2 months supply of homes on the market whereas the norm is 6-8 months supply.

There will always be pockets of places that more people want to live in which demand outweighs supply and there will always be places people don’t want to live which keeps supply high but demand low.  The better schools, some land, gated neighborhoods and better roads.  These tend to be the locations that are doing very well.  And why is that?  Because this is a free country and people want to live where they are financially capable of living.

In our market sellers are generally getting full asking price and, some even higher, for their homes.  Why?  Because the market allows for it.  The days of making a full price offer and getting the buyer to pay all closing costs is somewhat in the past until the market settles back down.

**Ryan Wheeler is an expert real estate agent and military veteran serving buyers and sellers of homes in the Shreveport-Bossier City area.  Connect With Me Here