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The Martket at a Glance


August 2020
Posted: September 28, 2020 by Sheryl Garcie

August 2020 Market Overview
Shreveport/Bossier, LA – (Caddo, Bossier, Desoto Parishes only)

August Summary:  Sales were strong.  Average price was up.  Inventory levels reach another new all-time low.

 

Sales:  Six months now since the Covid 19 shutdown, home sales activity continues to outperform.   There were 497 closed sales this August versus 479 in August last year.   This is the most sales we have ever had in August and this is following an all-time record sales month for July.  Year to date, home sales are now up +3% ahead of last year with 3406 sales thru August versus 3306 at this time last year.   Looking at the data tables below, you will see that sales in all 3 parishes are ahead of last year.  Desoto has the largest percentage increase up 38% while Bossier has the largest unit count increase up 66 but Caddo still has the largest number of sales overall as it is the most populated of the 3 parishes.  

 

Unit Sales YTD by price range vs. last year:



Inventory:  As homes continue selling at a record pace, inventory levels continue to fall, putting us at another new low.  There are currently 1305 homes actively listed on the market versus 2044 at this time last year.  That is –36% fewer homes for sale right now than last year.  With this shortage in supply and an unwavering demand, we are seeing homes in the most popular neighborhoods and price ranges receive multiple offers in their first weeks on the market.   This is now being reflected in prices as the average sale price per square foot continues to rise.  With 497 homes sold in August and 1305 currently on the market, the Monthly Supply (using the 12 month trailing average) of homes fell again last month from 3.4 to 3.2.   This is the lowest I have ever seen this metric since I started tracking it 13 years ago.   Last year at this time the monthly supply was 5.2, and three years ago it was 6.1. 

 

Prices:    With super low inventory along with continued strong sales activity, the average home price is continuing to climb.  The average home price this August was $213,511 versus $193,883 last year.  Year to date, the average price is now $197,170 vs $191,170 last year.   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 August averaged $104.14 per sq.ft. versus $97.52 last year.  

August 2020 Comparative Market Statistics
Shreveport/Bossier, LA – (Caddo, Bossier, Desoto Parishes Only)






August 2020 Absorption Rates
Shreveport/Bossier, LA – (Caddo, Bossier, & Desoto Parishes Only)


The following figures are through the month of August 2020

 

Currently, there are 1305 total homes for sale in Shreveport/Bossier.

Over the last 12 months, 411 homes have sold per month on average.

That’s a 3.2 month supply of homes if no more homes come on the market.

Last month 629 homes came on the market.

 

Currently there are 223 homes priced below $100,000 for sale in Shreveport/Bossier.

Over the last 12 months, 84 homes have sold per month on average in this price range.

That’s a 2.7 month supply of homes if no more homes come on the market.

Last month 110 homes came on the market in this price range.

 

Currently there are 431 homes priced between $100,000 and $199,999 for sale in Shreveport/Bossier.

Over the last 12 months, 156 homes have sold per month on average in this price range.

That’s a 2.8 month supply of homes if no more homes come on the market.

Last month 241 homes came on the market in this price range.

 

Currently there are 266 homes priced between $200,000 and $299,999 for sale in Shreveport/Bossier.

Over the last 12 months, 110 homes have sold per month on average in this price range.

That’s a 2.4 month supply of homes if no more homes come on the market.

Last month 155 homes came on the market in this price range.

 

Currently there are 168 homes priced between $300,000 and $399,999 for sale in Shreveport/Bossier.

Over the last 12 months, 37 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 67 homes came on the market in this price range.

 

Currently there are 91 homes priced between $400,000 and $499,999 for sale in Shreveport/Bossier.

Over the last 12 months, 14 homes have sold per month on average in this price range.

That’s a 6.4 month supply of homes if no more homes come on the market.

Last month 30 homes came on the market in this price range.

 

Currently there are 126 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 12.1 month supply of homes if no more homes come on the market.

Last month 26 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 09/10/2020

Author: Brad Gosslee of Coldwell Banker Gosslee

Information believed to be accurate but not guaranteed.

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