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The Market at a Glance


February 2020
Posted: March 22, 2020 by Sheryl Garcie

Residential Real Estate Sales
February Market Overview
Shreveport/Bossier, LA – (Caddo, Bossier, Desoto Parishes only)


February Summary:  Sales were down.  Average price was up.  Inventory rose slightly.

 

Sales:  February sales slowed a bit after coming out of the gates strong in January.  Home sales in February were down - 4% year over year with 300 homes sold versus 313 last year.   This was also below the trailing 5 year average for February of 314.  However, even with a slower month in February, year to date sales are still up 2%.   Looking at the data tables below, you will see that the increase in sales continues to be happening in Bossier Parish especially in the $200k—$400k price range.  Desoto Parish is up this year as well.   Caddo Parish on the other hand has seen a decline in sales so far this year in all price ranges except for the luxury market.

 

Unit Sales YTD by price range vs. last year:



Inventory:   Inventory levels rose slightly in February which is expected this time of year.  However, compared to last year, current inventory levels are well below expectations.  There are currently 1813 homes actively listed on the market versus 1790 last month and 2131 at this time last year.  With 300 homes sold in February and 1813 currently on the market, the Monthly Supply (using the 12 month trailing average) of homes rose slightly last month to from 4.4 to 4.5.   Last year at this time the monthly supply was 5.4.  At first glance, this would tell you to we are in a sellers market since we are below the target of 6.0 months…and we certainly are in certain neighborhoods for homes under $400k.  However, for homes priced $400k—$500k and Over $500k we remain deep into a buyer’s market.  While things have improved, there are still far too many luxury homes on the market for the amount of homes that are selling each month.   The $400k—$500k segment has a 10.4 month supply (versus 11.0 last year) and the Over $500k segment has a 14.8 month supply (versus 24.8 last year).

 

Prices:    With the overall improved sales activity in the upper price ranges, the average home price is up compared to last year. The average home price this February was $194,299 compared to 176,971 last year.  Year to date, the average price is $185,859 vs $177,065.   As a point of reference, the average price for all of 2019 finished up at $192,000.  On a price per square foot basis, sale prices this February averaged $98.14 per sq.ft. versus $91.17 last year. 

Residential Real Estate Sales
February 2020 Comparative Market Statistics
Shreveport/Bossier, LA – (Caddo, Bossier, Desoto Parishes only)

 


Residential Real Estate Sales
February 2020 Absorption Rates
Shreveport/Bossier, LA – (Caddo, Bossier, & Desoto Parishes Only)

The following figures are through the month of February 2020

Currently, there are 1813 total homes for sale in Shreveport/Bossier.

Over the last 12 months, 403 homes have sold per month on average.

That’s a 4.5 month supply of homes if no more homes come on the market.

Last month 618 homes came on the market.

 

Currently there are 349 homes priced below $100,000 for sale in Shreveport/Bossier.

Over the last 12 months, 83 homes have sold per month on average in this price range.

That’s a 4.2 month supply of homes if no more homes come on the market.

Last month 116 homes came on the market in this price range.

 

Currently there are 630 homes priced between $100,000 and $199,999 for sale in Shreveport/Bossier.

Over the last 12 months, 158 homes have sold per month on average in this price range.

That’s a 4.0 month supply of homes if no more homes come on the market.

Last month 243 homes came on the market in this price range.

 

Currently there are 403 homes priced between $200,000 and $299,999 for sale in Shreveport/Bossier.

Over the last 12 months, 106 homes have sold per month on average in this price range.

That’s a 3.8 month supply of homes if no more homes come on the market.

Last month 141 homes came on the market in this price range.

 

Currently there are 161 homes priced between $300,000 and $399,999 for sale in Shreveport/Bossier.

Over the last 12 months, 35 homes have sold per month on average in this price range.

That’s an 4.6 month supply of homes if no more homes come on the market.

Last month 51 homes came on the market in this price range.

 

Currently there are 121 homes priced between $400,000 and $499,999 for sale in Shreveport/Bossier.

Over the last 12 months, 12 homes have sold per month on average in this price range.

That’s a 10.4 month supply of homes if no more homes come on the market.

Last month 35 homes came on the market in this price range.

 

Currently there are 149 homes priced above $500,000 for sale in Shreveport/Bossier.

Over the last 12 months, 10 homes have sold per month on average in this price range.

That’s a 14.8 month supply of homes if no more homes come on the market.

Last month 32 homes came on the market in this price range.

 

Important Note: A 6 month supply is considered to be a balanced market.

Under 6 months is a seller’s market.

Over 6 months is a buyer’s market.

 

Data Source: Northwest Louisiana Association of Realtors MLS, Inc 03/17/2020

Author: Brad Gosslee of Coldwell Banker Gosslee

Information believed to be accurate but not guaranteed.



 

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