Home Prices in Caddo Parish Show Modest Increase Amidst Slower Market Trends

Home Prices in Caddo Parish: A Friendly Overview

Hey there, Caddo Parish! If you were curious about what’s happening in the local housing market this past November, you’re in the right place. We dive into the latest data to show you how things are shaping up in our neighborhood.

Price Trends: A Modest Increase

First off, let’s talk about prices. The _median home price in Caddo Parish_ was listed at $202,500 in November. That’s a teeny bit higher than October’s figure, which stood at _202,450 dollars_. So, yes, we’ve seen a slight uptick! However, if we look back a year, it appears that home prices have actually dropped by 4.9% from last November’s median price of _212,998 dollars_. So what does this mean for buyers and sellers? We’re still navigating a somewhat cool market compared to the previous year.

Size and Value: A Peek Inside Our Homes

The average home in Caddo Parish is pretty spacious, coming in at around 1,754 square feet. This translates to an average cost of _111 dollars per square foot_, which is a slight dip of 0.6% from the previous November, so if you’re budgeting, this might be a good time to find a deal!

Days on the Market: Taking Their Sweet Time

Now, what about how quickly homes are selling? Well, listings here are moving a bit slower than the national average. In November, homes in Caddo Parish spent a median of 73 days on the market, which is longer than the national median of 62 days. Just a month prior, homes were listed for a median of _70 days_. This trend may indicate that buyers are being more cautious in their decisions in today’s market.

New Listings: Getting Busier

On a brighter note, there’s been a surge in new listings! November saw around 228 new homes on the market, marking a fun 25.3% increase from the 182 homes listed the previous year. New options are popping up for buyers, so if you’re looking to move, now could be an exciting time to explore!

A Closer Look: Compare and Contrast

If we zoom out and look at the broader Shreveport-Bossier City area, the median home prices are hovering around $249,480. The average home in this area is slightly larger at about 1,846 square feet, and priced at _129 dollars per square foot_. Meanwhile, the statewide median home price in Louisiana stands at about _275,000 dollars_, showing a gentle decrease from October.

Conclusion: A Balancing Act for Buyers and Sellers

In summary, while prices are still somewhat high compared to last year, the slight increase from the previous month coupled with slower selling times points toward a market that’s evening out. Whether you’re in the market to buy or sell, it’s an interesting time to consider your options!

For more insights into your local housing market and various community data, feel free to explore local resources. Happy house hunting, Caddo Parish!