Is Lafayette, LA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Lafayette has remained a Seller's Market.
Housing Prices in Lafayette, LA
How much do homes in Lafayette, LA cost?
Median Sold Price
$235,938
$139/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Lafayette was $235,938 in March 2024, down 3.4% from last year, and the median price per square foot was $139.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $79.7K | $89K | +11.6% |
2 Bedrooms | $131.3K | $135K | +2.8% |
3 Bedrooms | $230.4K | $220K | -4.5% |
4 Bedrooms | $316.6K | $322.5K | +1.9% |
5+ Bedrooms | $590K | $630K | +6.8% |
Summary: Lafayette housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.6%, 2 bedroom homes increased by 2.8%, 3 bedroom homes decreased by 4.5%, 4 bedroom homes increased by 1.9%, and 5+ bedroom homes increased by 6.8%.
Median Sold Price Compared To Nearby Cities
Carencro | $217K | $220K | +1.4% |
Scott | $230K | $229.4K | -0.2% |
Lafayette | $244.2K | $235.9K | -3.4% |
Broussard | $313K | $298.7K | -4.6% |
Housing Supply in Lafayette, LA
How many homes are available in Lafayette, LA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
748 | 777 | +3.9% |
Summary: The Lafayette real estate market had 777 homes for sale in March 2024, a 3.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 11 | 14 | +27.3% |
2 Bedrooms | 92 | 112 | +21.7% |
3 Bedrooms | 365 | 364 | -0.3% |
4 Bedrooms | 234 | 233 | -0.4% |
5+ Bedrooms | 46 | 54 | +17.4% |
Summary: The Lafayette housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 27.3%, 2 bedroom homes increased by 21.7%, 3 bedroom homes decreased by 0.3%, 4 bedroom homes decreased by 0.4%, and 5+ bedroom homes increased by 17.4%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
111 | 137 | +23.4% |
Asking Price vs. Sold Price
84 Homes Were Sold
Under Asking
42 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 137 homes were sold or pending in Lafayette in March 2024, up by 23.4% month-over-month. Of the 137 sold homes, 61% were sold under asking, 31% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
50 Days | 62 Days | +23.1% |
Summary: Homes in Lafayette had an average of 62 days on market in Mar 2024, up by 23.1% compared to last year.
Breakdown of Home Sale Times
70 Homes Were Sold
Under 30 Days
34 Homes Were Sold
In 30 - 90 Days
33 Homes Were Sold
Over 90 Days
Summary: During March 2024, 137 homes were sold in Lafayette; 51% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 24% of homes were sold over 90 days.