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The Market at a Glance


December 2020
Posted: January 26, 2021 by Sheryl Garcie

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


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

 

Sales:  December wrapped up the year posting a 6th record month in a row for home sales.   There were 450 closed sales this December versus 361 in December last year.   This is by far the most sales we have ever had in any December on record and this is following all-time record sales months for July, August, September, October, and November.  For the year, home sales finished up 13% ahead of last year with 5,463 total sales this year versus 4,852 in 2019.   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 ( 17%) and Bossier lead for the largest increase in unit sales ( 298).  Caddo had the most sales in the lowest priced homes (under $200k) and high end (over $500k).

 

Unit Sales by price range 2020 vs. 2019:



Inventory:  As homes continue selling at a record pace, inventory levels continue to fall, putting us at another new low.  There are currently 1,027 homes actively listed on the market versus 1,813 at this time last year.  That is –43% fewer homes for sale right now than this time last year.  Due to the shortage of available listings, homes are selling faster than ever. Median days on market was only 29 in December vs 47 days last year.  With 450 homes sold in December and 1,027 currently on the market, the Monthly Supply (using the 12 month trailing average) of homes fell again last month from 2.4 to 2.3.   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 4.5, and three years ago it was 5.6.   If you look at specific price ranges, it is even more drastic.   Homes between $200k—$300k are now at a 1.4 month supply versus 3.8 last year and 5.0 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 in December was $208,688 versus $196,938 last year.  For the year, the average price finished up at $200,619 vs $191,838 last year.   On a price per square foot basis, sale prices this December averaged $103.86 per sq.ft. versus $97.67 last year.  For the year, average price per foot finished at $100.08 vs $95.76 last year. 

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





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

The following figures are through the month of December 2020

 

Currently, there are 1027 total homes for sale in Shreveport/Bossier.

Over the last 12 months, 454 homes have sold per month on average.

That’s a 2.3 month supply of homes if no more homes come on the market.

Last month 410 homes came on the market.

 

Currently there are 234 homes priced below $100,000 for sale in Shreveport/Bossier.

Over the last 12 months, 88 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 84 homes came on the market in this price range.

 

Currently there are 349 homes priced between $100,000 and $199,999 for sale in Shreveport/Bossier.

Over the last 12 months, 168 homes have sold per month on average in this price range.

That’s a 2.1 month supply of homes if no more homes come on the market.

Last month 164 homes came on the market in this price range.

 

Currently there are 176 homes priced between $200,000 and $299,999 for sale in Shreveport/Bossier.

Over the last 12 months, 125 homes have sold per month on average in this price range.

That’s a 1.4 month supply of homes if no more homes come on the market.

Last month 92 homes came on the market in this price range.

 

Currently there are 101 homes priced between $300,000 and $399,999 for sale in Shreveport/Bossier.

Over the last 12 months, 44 homes have sold per month on average in this price range.

That’s an 2.3 month supply of homes if no more homes come on the market.

Last month 39 homes came on the market in this price range.

 

Currently there are 69 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 4.4 month supply of homes if no more homes come on the market.

Last month 18 homes came on the market in this price range.

 

Currently there are 98 homes priced above $500,000 for sale in Shreveport/Bossier.

Over the last 12 months, 13 homes have sold per month on average in this price range.

That’s a 7.7 month supply of homes if no more homes come on the market.

Last month 8 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 1/15/2021
Author: Brad Gosslee of Coldwell Banker Gosslee
Information believed to be accurate but not guaranteed.

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