Coldwell Banker Gosslee

The Market at a Glance Main Photo

The Market at a Glance


November 2020
Posted: December 18, 2020 by Sheryl Garcie

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

November Summary:  Sales up again.  Average price up.  Inventory levels reach another new all-time low.

 

Sales:  November posted a 5th record month in a row for home sales. There were 493 closed sales this November versus 330 in November last year.   This is by far the most sales we have ever had in any November on record and this is following all-time record sales months for July, August, September, and October.  Year to date, home sales are now up 12% ahead of last year with 5011 sales through November versus 4489 at this time last year. Looking at the data tables below, you will see that sales in all 3 parishes are well ahead of last year but not all the same. Desoto has had the largest percentage increase (18%) and Bossier has taken the lead for the largest increase in unit sales (270). Caddo continues to have the most sales in the lowest priced homes under $200k and high end over $500k.

 

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 1090 homes actively listed on the market versus 1956 at this time last year.  That is –44% fewer homes for sale right now than last year.  Due to the shortage of available listings, homes are selling faster than ever. Median days on market was only 21 in November vs 49 days last year.  With 493 homes sold in November and 1090 currently on the market, the Monthly Supply (using the 12 month trailing average) of homes fell again last month from 2.8 to 2.4.   This is insanely low.  This is the lowest this metric has ever been since I started tracking it 13 years ago.   Last year at this time the monthly supply was 4.9, and three years ago it was 5.8.   If you look at specific price ranges, it is even more drastic.   Homes between $200k—$300k are now at a 1.6 month supply versus 4.2 last year and 5.2 just two years ago.

 

Prices:    With the drastically lower inventory and continued strong sales activity, the average home price is on the rise.  The average home price this November was $208,026 versus $195,447 last year.  Year to date, the average price is now $199,741 vs $191,432 last year.   As a point of reference, the average price for all of 2019 finished at $192,000.  On a price per square foot basis, sale prices this November averaged $103.66 per sq.ft. versus $95.61 last year.  

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

 



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

The following figures are through the month of November 2020

 

Currently, there are 1090 total homes for sale in Shreveport/Bossier.

Over the last 12 months, 446 homes have sold per month on average.

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

Last month 481 homes came on the market.

 

Currently there are 242 homes priced below $100,000 for sale in Shreveport/Bossier.

Over the last 12 months, 87 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 108 homes came on the market in this price range.

 

Currently there are 369 homes priced between $100,000 and $199,999 for sale in Shreveport/Bossier.

Over the last 12 months, 166 homes have sold per month on average in this price range.

That’s a 2.2 month supply of homes if no more homes come on the market.

Last month 193 homes came on the market in this price range.

 

Currently there are 192 homes priced between $200,000 and $299,999 for sale in Shreveport/Bossier.

Over the last 12 months, 123 homes have sold per month on average in this price range.

That’s a 1.6 month supply of homes if no more homes come on the market.

Last month 112 homes came on the market in this price range.

 

Currently there are 107 homes priced between $300,000 and $399,999 for sale in Shreveport/Bossier.

Over the last 12 months, 42 homes have sold per month on average in this price range.

That’s an 2.6 month supply of homes if no more homes come on the market.

Last month 40 homes came on the market in this price range.

 

Currently there are 74 homes priced between $400,000 and $499,999 for sale in Shreveport/Bossier.

Over the last 12 months, 16 homes have sold per month on average in this price range.

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

Last month 12 homes came on the market in this price range.

 

Currently there are 106 homes priced above $500,000 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 8.9 month supply of homes if no more homes come on the market.

Last month 16 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 12/15/2020
Author: Brad Gosslee of Coldwell Banker Gosslee
Information believed to be accurate but not guaranteed.

Loading Comments
Real Estate Links Our Domains