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The Market at a Glance


January 2021
Posted: February 22, 2021 by Sheryl Garcie

January 2021 Market Overview
Shreveport/Bossier, LA – (Caddo, Bossier, Desoto Parishes only)


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

 

Sales:  January 2021 has continued the momentum of 2020, extending us into a 7th straight record month for home sales.   There were 377 closed sales this January versus 296 in January last year.   This is by far the most sales we have ever had in any January on record, with the nearest being in the low 300’s in 2005 and 2006.  As a point of reference, the 5 year trailing average for January has been 249 closed sales.  This trend is likely to continue for at least the next couple of months as pending sales have continued to be strong in February.   Looking at the data tables below, you will see that sales in both Caddo and Bossier got off to a strong start while Desoto was actually down some from last year. This will likely balance out over the next few months.

 

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 877 homes actively listed on the market versus 1,790 at this time last year.  That is –51% 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 were 27 in January this year vs 47 last year.  With 377 homes sold in January and 877 currently on the market, the Monthly Supply (using the 12 month trailing average) of homes fell again last month from 2.4 to 1.9.   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 4.4, 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 1.2 month supply versus 3.7 last year and 5.0 just two years ago.

 

Prices:    With the drastically lower inventory and continued strong sales activity, the average home price has continued to rise.  The average home price this January was $213,370 versus $177,333 last year.  On a price per square foot basis, sale prices this January averaged $103.97 per sq.ft. versus $92.07 last year.  As a point of reference, the average price for all of 2020 finished up at $200,619 and the average price per square foot finished at $100.08. 

January 2021 Comparative Market Statistics
Shreveport/Bossier, LA – (Caddo, Bossier, Desoto Parishes Only)






January 2021 Absorption Rates
Shreveport/Bossier, LA – (Caddo, Bossier, & Desoto Parishes Only)


The following figures are through the month of January 2021

 

Currently, there are 877 total homes for sale in Shreveport/Bossier. Over the last 12 months, 460 homes have sold per month on average. That’s a 1.9 month supply of homes if no more homes come on the market. Last month 530 homes came on the market.

 

Currently there are 213 homes priced below $100,000 for sale in Shreveport/Bossier. Over the last 12 months, 86 homes have sold per month on average in this price range. That’s a 2.5 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 285 homes priced between $100,000 and $199,999 for sale in Shreveport/Bossier. Over the last 12 months, 172 homes have sold per month on average in this price range. That’s a 1.7 month supply of homes if no more homes come on the market. Last month 181 homes came on the market in this price range.

 

Currently there are 147 homes priced between $200,000 and $299,999 for sale in Shreveport/Bossier. Over the last 12 months, 127 homes have sold per month on average in this price range. That’s a 1.2 month supply of homes if no more homes come on the market. Last month 129 homes came on the market in this price range.

 

Currently there are 71 homes priced between $300,000 and $399,999 for sale in Shreveport/Bossier. Over the last 12 months, 46 homes have sold per month on average in this price range. That’s an 1.6 month supply of homes if no more homes come on the market. Last month 55 homes came on the market in this price range.

 

Currently there are 61 homes priced between $400,000 and $499,999 for sale in Shreveport/Bossier. Over the last 12 months, 17 homes have sold per month on average in this price range. That’s a 3.7 month supply of homes if no more homes come on the market. Last month 29 homes came on the market in this price range.

 

Currently there are 100 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 24 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. 2/15/2021
Author: Brad Gosslee of Coldwell Banker Gosslee
Information believed to be accurate but not guaranteed.

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