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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing West Lafayette is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, West Lafayette has remained a Seller's Market.

Key Takeaway

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

Housing Prices in West Lafayette, IN

How much do homes in West Lafayette, IN cost?

Median Sold Price

$377,450

$173/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

+$61,450(+19.4%)

Key Takeaway

Homes in West Lafayette have sold for 19.4% more than they did a month ago.

Summary: The median home sold price in West Lafayette was $377,450 in October 2024, up 19.4% from last month, and the median price per square foot was $173.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 --
N/A
2 $235K$395K
+68.1%
3 $315.6K$325K
+3.0%
4 $432.5K$399.9K
-7.5%
5+ $670K$619.5K
-7.5%

Summary: West Lafayette housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 68.1%, 3 bedroom homes increased by 3%, 4 bedroom homes decreased by 7.5%, and 5+ bedroom homes decreased by 7.5%.

Median Sold Price Compared To Nearby Cities

Wabash Township
+20.7%
West Lafayette
+19.4%
Tippecanoe Township
-4.0%

Housing Supply in West Lafayette, IN

How many homes are available in West Lafayette, IN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
144167+16.0%

Summary: The West Lafayette real estate market had 167 homes for sale in October 2024, a 16.0% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 68
+33.3%
3 6670
+6.1%
4 5872
+24.1%
5+ 1417
+21.4%

Summary: The West Lafayette housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 6.1%, 4 bedroom homes increased by 24.1%, and 5+ bedroom homes increased by 21.4%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3350+51.5%

Asking Price vs. Sold Price

28 Homes Were Sold
Under Asking

13 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in West Lafayette, you may be able to get a good deal. 56% of homes here sold below asking price last month.

Summary: A total of 50 homes were sold or pending in West Lafayette in October 2024, up by 51.5% month-over-month. Of the 50 sold homes, 56% were sold under asking, 26% were sold at asking, and 18% were sold over asking.

Days on Market for West Lafayette, IN

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

Average Sale Time

Sep 2024Oct 2024CHANGE
29 Days9 Days-69.0%

Summary: Homes in West Lafayette had an average of 9 days on market in Oct 2024, down by 69% compared to last month.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 50 homes were sold in West Lafayette; 2% of homes were sold within 30 days, 0% 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 20 Days Ago

Newest Listings in West Lafayette, IN

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