$575,000
0.51 Acres
Land
Emily Babineaux, Listing Office: Keaty Real Estate Team
Is Lafayette, LA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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
$234,222
$140/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$5,765(-2.4%)
Key Takeaway
Homes in Lafayette have sold for 2.4% less than they did a year ago.
Summary: The median home sold price in Lafayette was $234,222 in October 2024, down 2.4% from last year, and the median price per square foot was $140.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $80K | $84.5K | +5.6% |
| 2 Bedrooms | $133K | $143K | +7.5% |
| 3 Bedrooms | $223K | $218.4K | -2.1% |
| 4 Bedrooms | $334.7K | $319.8K | -4.4% |
| 5+ Bedrooms | $504.4K | $637.5K | +26.4% |
Summary: Lafayette housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.6%, 2 bedroom homes increased by 7.5%, 3 bedroom homes decreased by 2.1%, 4 bedroom homes decreased by 4.4%, and 5+ bedroom homes increased by 26.4%.
Median Sold Price Compared To Nearby Cities
| Broussard | $290K | $299.5K | +3.3% |
| Carencro | $215K | $220K | +2.3% |
| Scott | $225K | $225K | 0.0% |
| Lafayette | $239.9K | $234.2K | -2.4% |
Housing Supply in Lafayette, LA
How many homes are available in Lafayette, LA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 776 | 804 | +3.6% |
Summary: The Lafayette real estate market had 804 homes for sale in October 2024, a 3.6% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 10 | 12 | +20.0% |
| 2 Bedrooms | 103 | 101 | -1.9% |
| 3 Bedrooms | 395 | 399 | +1.0% |
| 4 Bedrooms | 210 | 232 | +10.5% |
| 5+ Bedrooms | 58 | 60 | +3.4% |
Summary: The Lafayette housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes decreased by 1.9%, 3 bedroom homes increased by 1%, 4 bedroom homes increased by 10.5%, and 5+ bedroom homes increased by 3.4%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 114 | 138 | +21.1% |
Asking Price vs. Sold Price
78 Homes Were Sold
Under Asking
49 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lafayette, you may be able to get a good deal. 56.5% of homes here sold below asking price last month.
Summary: A total of 138 homes were sold or pending in Lafayette in October 2024, up by 21.1% month-over-month. Of the 138 sold homes, 57% were sold under asking, 36% were sold at asking, and 8% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 41 Days | 53 Days | +29.2% |
Summary: Homes in Lafayette had an average of 53 days on market in Oct 2024, up by 29.2% compared to last year.
Breakdown of Home Sale Times
65 Homes Were Sold
Under 30 Days
46 Homes Were Sold
In 30 - 90 Days
27 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 October 2024, 138 homes were sold in Lafayette; 47% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
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