In February, the median home price in Caddo Parish reached $213,900, marking a 9.6% increase from the previous month and a 13.5% rise compared to February of the prior year. The market saw a slower pace of sales with homes staying listed for a median of 80 days, longer than the national average. Additionally, there was a decline in newly listed properties, reflecting a shift in supply dynamics. Meanwhile, the cost per square foot increased by 7.2%, indicating growing demand for available housing stock.

On a broader scale, the Shreveport-Bossier City metro area experienced an upward trend in median home prices, reaching $252,500. Louisiana as a whole witnessed slight growth in median home prices, climbing to $275,000. Nationally, the median home list price stood at $412,000, showcasing varying regional impacts on the real estate landscape.

Market Dynamics in Caddo Parish

Caddo Parish's housing market exhibited notable shifts in both pricing and availability during February. With a median home size of 1,747 square feet priced at $114 per square foot, these figures reflect increasing buyer interest despite fewer new listings entering the market. The slowdown in turnover times further suggests potential challenges in meeting demand efficiently.

The data indicates that while median home prices surged by nearly 14% year-over-year, the number of newly listed homes dropped significantly by 28.6%. This discrepancy highlights an imbalance between supply and demand within the parish. Moreover, the extended duration homes remain on the market—80 days compared to the national median of 66 days—points to possible hesitations among sellers or adjustments needed in pricing strategies. These factors collectively paint a picture of a dynamic yet constrained local housing market requiring strategic interventions.

Regional and National Comparisons

While Caddo Parish navigates its unique market conditions, broader trends across Louisiana and the U.S. provide valuable context. In the Shreveport-Bossier City region, median home prices climbed slightly higher than those in Caddo Parish alone, suggesting stronger appeal or economic drivers influencing this area. Statewide, Louisiana’s median home price also showed modest gains, aligning with gradual improvements seen nationally.

Nationally, the median home list price of $412,000 underscores significant disparities between regional markets. For instance, while Caddo Parish homes command lower prices relative to national averages, they still participate in the overall upward trajectory affecting much of the country. Furthermore, differences in square footage and cost per square foot reveal distinct preferences and affordability considerations shaping each locale's housing profile. Understanding these variations helps stakeholders anticipate future movements and tailor their approaches accordingly.