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 seller's market

Buyer's
Market

Difference Since May 2023

Since last year, La Fayette has remained a Seller's Market.

Key Takeaway

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

Housing Prices in La Fayette, GA

How much do homes in La Fayette, GA cost?

Median Sold Price

$210,000

$153/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$5,700(+2.8%)

Key Takeaway

Homes in La Fayette have sold for 2.8% more than they did a year ago.

Summary: The median home sold price in La Fayette was $210,000 in May 2024, up 2.8% from last year, and the median price per square foot was $153.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $41K$206K
+402.4%
2 $136K$159.9K
+17.6%
3 $204.3K$220K
+7.7%
4 $234.9K$257.5K
+9.6%
5+ $492K$450K
-8.5%

Summary: La Fayette housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 402.4%, 2 bedroom homes increased by 17.6%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 9.6%, and 5+ bedroom homes decreased by 8.5%.

Median Sold Price Compared To Nearby Cities

Villanow
+13.8%
LaFayette
+3.2%
La Fayette
+2.8%
Rock Spring
-1.7%

Housing Supply in La Fayette, GA

How many homes are available in La Fayette, GA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
144147+2.1%

Summary: The La Fayette real estate market had 147 homes for sale in May 2024, a 2.1% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 11
0.0%
2 2420
-16.7%
3 9691
-5.2%
4 2130
+42.9%
5+ 25
+150.0%

Summary: The La Fayette 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 16.7%, 3 bedroom homes decreased by 5.2%, 4 bedroom homes increased by 42.9%, and 5+ bedroom homes increased by 150%.

Number of Homes Sold

Apr 2024May 2024CHANGE
3331-6.1%

Asking Price vs. Sold Price

16 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

7 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. 53.3% of homes here sold below asking price last month.

Summary: A total of 31 homes were sold or pending in La Fayette in May 2024, down by 6.1% month-over-month. Of the 30 sold homes, 53% were sold under asking, 23% were sold at asking, and 23% 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

May 2023May 2024CHANGE
18 Days21 Days+18.3%

Summary: Homes in La Fayette had an average of 21 days on market in May 2024, up by 18.3% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

3 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 May 2024, 31 homes were sold in La Fayette; 29% of homes were sold within 30 days, 10% 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 1 Day Ago

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