Is Lafayette Township, MO a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lafayette Township is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Lafayette Township has remained a Seller's Market.

Key Takeaway

Lafayette Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Lafayette Township, MO

How much do homes in Lafayette Township, MO cost?

Median Sold Price

$433,666

$172/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$15,166(+3.6%)

Key Takeaway

Homes in Lafayette Township have sold for 3.6% more than they did a year ago.

Summary: The median home sold price in Lafayette Township was $433,666 in May 2024, up 3.6% from last year, and the median price per square foot was $172.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $178.7K$165K
-7.7%
2 $222.5K$245K
+10.1%
3 $365K$381K
+4.4%
4 $459.9K$485.7K
+5.6%
5+ $515K$560K
+8.7%

Summary: Lafayette Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.7%, 2 bedroom homes increased by 10.1%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes increased by 8.7%.

Median Sold Price Compared To Nearby Cities

Winchester
+12.0%
Ballwin
+8.3%
Chesterfield
+7.9%
Lafayette Township
+3.6%
Clarkson Valley
+2.2%

Housing Supply in Lafayette Township, MO

How many homes are available in Lafayette Township, MO?

Number of Homes For Sale

Apr 2024May 2024CHANGE
97970.0%

Summary: The Lafayette Township real estate market had 97 homes for sale in May 2024, the same as April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 10
-100.0%
2 1511
-26.7%
3 4235
-16.7%
4 3444
+29.4%
5+ 57
+40.0%

Summary: The Lafayette Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 26.7%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes increased by 29.4%, and 5+ bedroom homes increased by 40%.

Number of Homes Sold

Apr 2024May 2024CHANGE
4134-17.1%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

26 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lafayette Township, you could pay more than the asking price. 76.5% of homes here sold above asking price last month.

Summary: A total of 34 homes were sold or pending in Lafayette Township in May 2024, down by 17.1% month-over-month. Of the 34 sold homes, 15% were sold under asking, 9% were sold at asking, and 76% were sold over asking.

Days on Market for Lafayette Township, MO

How long does it take to sell a home in Lafayette Township, MO?

Average Sale Time

May 2023May 2024CHANGE
11 Days10 Days-2.9%

Summary: Homes in Lafayette Township had an average of 10 days on market in May 2024, down by 2.9% compared to last year.

Breakdown of Home Sale Times

30 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Lafayette Township are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 34 homes were sold in Lafayette Township; 88% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

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MLS Disclaimers and Copyright

Based on information from Mid America Regional Information System for the period 06/01/2022 - 06/01/2024

IDX Listings courtesy of Mid America Regional Information System as distributed by MLS GRID.

All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

IDX Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

IDX information is provided exclusively for consumers personal non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID, and that the use of the MLS GRID Data may be subject to an end user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time. MLS GRID may, at its discretion, require use of other disclaimers as necessary to protect Member Participant, and/or their MLS from liability.

Listings courtesy of MARIS MLS as distributed by MLS GRID. Copyright © 2024 Mid America Regional Information System (MARIS). All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 6/1/2024, 9:23:31 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

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