Is Lafayette, LA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Lafayette has remained a Seller'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, LA
How much do homes in Lafayette, LA cost?
Median Sold Price
$234,856
$139/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lafayette have sold for 4.1% less than they did a year ago.
Summary: The median home sold price in Lafayette was $234,856 in May 2024, down 4.1% from last year, and the median price per square foot was $139.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $76K | $89K | +17.1% |
| 2 Bedrooms | $131.3K | $135K | +2.8% |
| 3 Bedrooms | $230.3K | $218.6K | -5.1% |
| 4 Bedrooms | $316.4K | $328.6K | +3.9% |
| 5+ Bedrooms | $624K | $645K | +3.4% |
Summary: Lafayette housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.1%, 2 bedroom homes increased by 2.8%, 3 bedroom homes decreased by 5.1%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes increased by 3.4%.
Median Sold Price Compared To Nearby Cities
| Carencro | $219.4K | $220K | 0.2% |
| Scott | $229.5K | $223K | -2.8% |
| Broussard | $311.1K | $299K | -3.9% |
| Lafayette | $244.9K | $234.8K | -4.1% |
Housing Supply in Lafayette, LA
How many homes are available in Lafayette, LA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 824 | 812 | -1.5% |
Summary: The Lafayette real estate market had 812 homes for sale in May 2024, a 1.5% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 12 | 15 | +25.0% |
| 2 Bedrooms | 117 | 121 | +3.4% |
| 3 Bedrooms | 395 | 394 | -0.3% |
| 4 Bedrooms | 248 | 233 | -6.0% |
| 5+ Bedrooms | 52 | 49 | -5.8% |
Summary: The Lafayette housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 3.4%, 3 bedroom homes decreased by 0.3%, 4 bedroom homes decreased by 6%, and 5+ bedroom homes decreased by 5.8%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 169 | 164 | -3.0% |
Asking Price vs. Sold Price
81 Homes Were Sold
Under Asking
59 Homes Were Sold
At Asking
24 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lafayette, you may be able to get a good deal. 49.4% of homes here sold below asking price last month.
Summary: A total of 164 homes were sold or pending in Lafayette in May 2024, down by 3.0% month-over-month. Of the 164 sold homes, 49% were sold under asking, 36% were sold at asking, and 15% were sold over asking.
Days on Market for Lafayette, LA
How long does it take to sell a home in Lafayette, LA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 55 Days | 56 Days | +1.1% |
Summary: Homes in Lafayette had an average of 56 days on market in May 2024, up by 1.1% compared to last year.
Breakdown of Home Sale Times
82 Homes Were Sold
Under 30 Days
44 Homes Were Sold
In 30 - 90 Days
38 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lafayette are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 164 homes were sold in Lafayette; 50% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the IDX Program of the REALTORS® Association of Acadiana’s MLS. Real Estate listings held by other brokerage firms are marked with the MLS approved icon for IDX. The materials contained within this page may not be reproduced without the express written consent of The Realtor® Association of Acadiana. The information contained within this page is for personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but is not guaranteed and should be verified by personal inspection or with the appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. The materials contained within this page may not be reproduced without the express written consent of this broker. Some real estate firms do not participate in Internet Data Exchange® and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Some or all of the listings displayed may not belong to the firm whose web site is being visited. 
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