Is Lafayette, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Lafayette was a Seller's Market.
Housing Prices in Lafayette, TN
How much do homes in Lafayette, TN cost?
Median Sold Price
$269,911
$171/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lafayette was $269,911 in May 2024, up 6.3% from last year, and the median price per square foot was $171.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $62.5K | $152.5K | +144.0% |
2 Bedrooms | $157.5K | $162.5K | +3.2% |
3 Bedrooms | $269K | $270K | 0.4% |
4 Bedrooms | $314.9K | $354.9K | +12.7% |
5+ Bedrooms | $232.5K | $406K | +74.6% |
Summary: Lafayette housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 144%, 2 bedroom homes increased by 3.2%, 3 bedroom homes increased by 0.4%, 4 bedroom homes increased by 12.7%, and 5+ bedroom homes increased by 74.6%.
Housing Supply in Lafayette, TN
How many homes are available in Lafayette, TN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
77 | 97 | +26.0% |
Summary: The Lafayette real estate market had 97 homes for sale in May 2024, a 26.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 5 | 4 | -20.0% |
3 Bedrooms | 60 | 80 | +33.3% |
4 Bedrooms | 11 | 12 | +9.1% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Lafayette housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
11 | 14 | +27.3% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 14 homes were sold or pending in Lafayette in May 2024, up by 27.3% month-over-month. Of the 14 sold homes, 79% were sold under asking, 14% were sold at asking, and 7% were sold over asking.
Days on Market for Lafayette, TN
How long does it take to sell a home in Lafayette, TN?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
41 Days | 59 Days | +43.6% |
Summary: Homes in Lafayette had an average of 59 days on market in May 2024, up by 43.6% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 14 homes were sold in Lafayette; 50% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.