Is La Fayette, GA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing La Fayette is a buyer's market

Buyer's
Market

Difference Since November 2023

At the same time last year, La Fayette was a Seller's Market.

Key Takeaway

La Fayette is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in La Fayette, GA

How much do homes in La Fayette, GA cost?

Median Sold Price

$220,590

$165/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$21,728(+10.9%)

Key Takeaway

Homes in La Fayette have sold for 10.9% more than they did a year ago.

Summary: The median home sold price in La Fayette was $220,590 in November 2024, up 10.9% from last year, and the median price per square foot was $165.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $40K$40K
0.0%
2 $135K$153.7K
+13.9%
3 $210K$226.7K
+8.0%
4 $252.4K$266.1K
+5.4%
5+ $375K$341K
-9.1%

Summary: La Fayette housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 13.9%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes decreased by 9.1%.

Median Sold Price Compared To Nearby Cities

LaFayette
+17.2%
La Fayette
+10.9%
Kensington
+8.4%
Rock Spring
+8.1%

Housing Supply in La Fayette, GA

How many homes are available in La Fayette, GA?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
115124+7.8%

Summary: The La Fayette real estate market had 124 homes for sale in November 2024, a 7.8% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 11
0.0%
2 1619
+18.8%
3 7877
-1.3%
4 1925
+31.6%
5+ 12
+100.0%

Summary: The La Fayette housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 18.8%, 3 bedroom homes decreased by 1.3%, 4 bedroom homes increased by 31.6%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
1714-17.6%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in La Fayette, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.

Summary: A total of 14 homes were sold or pending in La Fayette in November 2024, down by 17.6% month-over-month. Of the 14 sold homes, 57% were sold under asking, 0% were sold at asking, and 43% were sold over asking.

Days on Market for La Fayette, GA

How long does it take to sell a home in La Fayette, GA?

Average Sale Time

Nov 2023Nov 2024CHANGE
170 Days25 Days-84.9%

Summary: Homes in La Fayette had an average of 25 days on market in Nov 2024, down by 84.9% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 14 homes were sold in La Fayette; 36% of homes were sold within 30 days, 14% 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 2 Days Ago

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