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Email Post to a Friend: Monthly Market Report October 2021

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November
24

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

To view or download the full report click here.

October Summary:  Sales picked back up.  Average price climbed higher.  Inventory levels grew slightly.

Sales:  After a slight dip in September, closings picked back up in October with another 500+ month, making it the 7th time this year we've had over 500 sales. There were 526 sales posted this October versus 474 last month and 531 last year.  As a point of reference, the 5 year average for October is only 419 so we were about 25% above our normal sales average as we have been pretty consistently all year.  Year over year comparison is starting to narrow though as the second half of last year's numbers start to get figured in.  Sales year to date for 2021 are now up just +13% compared to as much as +29% back in May.  Compared to 2019 though, sales are up +23% YTD.  These results differ though when you drill down on each parish.  Sales in Desoto parish are actually down –19% this year due to the very low inventory available for sale. Currently, there are only 32 available listings on the market in all price ranges in Desoto parish. Caddo has the most available homes for sale at 677 while Bossier only has 227. This larger availability of inventory is primarily the reason Caddo has seen a larger % increase in sales this year.  

Unit Sales YTD by price range vs. last year:

Inventory:  Listing inventory bottomed in May of this year at 774 and has been gently rising ever since.  There are now 911 active listings on the market versus 881 last month, 1,193 last year, and 1,991 in 2019.  With 524 homes sold in October and only 911 currently on the market, the Monthly Supply (using the 12 month trailing average) of homes is now 1.8 which is unchanged from last month. This is incredibly low though for the Shreveport-Bossier market.  Just 12 months ago, the monthly supply was 2.8, and two years ago it was 5.0. There were 574 new homes that came on the market in October in all price ranges but the majority were put under contract shortly after hitting the market.  There are currently 689 properties in pending sale status.  This pending and new listing activity have been important metrics to watch as the remainder of the year and next year unfold.  Normally these will slow down during the holidays but 2021 has been anything but normal.

PricesWith the continued low inventory and strong sales activity in the higher price ranges, the average home price continues to climb. Year to date, the average home price through October is $221,205 versus $198,958 last year. On a price per square foot basis, sale prices thru October averaged $112.27 per sq.ft. versus $99.29 last year. 

October 2021 Comparative Market Statistics
Shreveport/Bossier, LA – (Caddo, Bossier, Desoto Parishes Only)
October 2021 Absorption Rates
Shreveport/Bossier, LA – (Caddo, Bossier, & Desoto Parishes Only)

The following figures are through the month of October 2021 

Currently, there are 911 total homes for sale in Shreveport/Bossier.
Over the last 12 months, 502 homes have sold per month on average.
That's a 1.8 month supply of homes if no more homes come on the market.
Last month 574 homes came on the market.

Currently there are 254 homes priced below $100,000 for sale in Shreveport/Bossier.
Over the last 12 months, 77 homes have sold per month on average in this price range.
That's a 3.3 month supply of homes if no more homes come on the market.
Last month 104 homes came on the market in this price range.

Currently there are 295 homes priced between $100,000 and $199,999 for sale in Shreveport/Bossier.
Over the last 12 months, 180 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 218 homes came on the market in this price range.

Currently there are 151 homes priced between $200,000 and $299,999 for sale in Shreveport/Bossier.
Over the last 12 months, 146 homes have sold per month on average in this price range.
That's a 1.0 month supply of homes if no more homes come on the market.
Last month 145 homes came on the market in this price range.

Currently there are 84 homes priced between $300,000 and $399,999 for sale in Shreveport/Bossier.
Over the last 12 months, 58 homes have sold per month on average in this price range.
That's an 1.5 month supply of homes if no more homes come on the market.
Last month 57 homes came on the market in this price range.

Currently there are 44 homes priced between $400,000 and $499,999 for sale in Shreveport/Bossier.
Over the last 12 months, 24 homes have sold per month on average in this price range.
That's a 1.8 month supply of homes if no more homes come on the market.
Last month 26 homes came on the market in this price range.

Currently there are 83 homes priced above $500,000 for sale in Shreveport/Bossier.
Over the last 12 months, 18 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 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 11/15/2021
Author: Brad Gosslee of Coldwell Banker Gosslee
Information believed to be accurate but not guaranteed.

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