Is Lafayette, IN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lafayette is a seller's market

Buyer's
Market

Difference Since Last Month

Last month, Lafayette was a Buyer's Market.

Key Takeaway

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

Housing Prices in Lafayette, IN

How much do homes in Lafayette, IN cost?

Median Sold Price

$261,000

$163/sqft

Based on all homes sold in May 2024.

Difference Since Last Month

+$31,000(+13.5%)

Key Takeaway

Homes in Lafayette have sold for 13.5% more than they did a month ago.

Summary: The median home sold price in Lafayette was $261,000 in May 2024, up 13.5% from last month, and the median price per square foot was $163.

Median Sold Price By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 -$77K
N/A
2 $211K-
N/A
3 $230K$252.5K
+9.8%
4 $250.5K$320K
+27.7%
5+ --
N/A

Summary: Lafayette housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 9.8%, 4 bedroom homes increased by 27.7%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Fairfield Township
+18.5%
Lafayette
+13.5%

Housing Supply in Lafayette, IN

How many homes are available in Lafayette, IN?

Number of Homes For Sale

Apr 2024May 2024CHANGE
65124+90.8%

Summary: The Lafayette real estate market had 124 homes for sale in May 2024, a 90.8% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 01
+100.0%
2 510
+100.0%
3 3567
+91.4%
4 2240
+81.8%
5+ 36
+100.0%

Summary: The Lafayette housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 91.4%, 4 bedroom homes increased by 81.8%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Apr 2024May 2024CHANGE
942+366.7%

Asking Price vs. Sold Price

17 Homes Were Sold
Under Asking

10 Homes Were Sold
At Asking

15 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lafayette, you may be able to get a good deal. 40.5% of homes here sold below asking price last month.

Summary: A total of 42 homes were sold or pending in Lafayette in May 2024, up by 366.7% month-over-month. Of the 42 sold homes, 40% were sold under asking, 24% were sold at asking, and 36% were sold over asking.

Days on Market for Lafayette, IN

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

Average Sale Time

Apr 2024May 2024CHANGE
5 Days51 Days+933.3%

Summary: Homes in Lafayette had an average of 51 days on market in May 2024, up by 933.3% compared to last month.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 42 homes were sold in Lafayette; 10% of homes were sold within 30 days, 2% of homes were sold within 30 to 90 days, and 2% 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

Newest Listings in Lafayette, IN

Nearby Markets to Lafayette, IN

What housing markets are near Lafayette, IN?