Is Lafayette, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Lafayette was a Neutral Market.
Key Takeaway
Lafayette is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lafayette, NJ
How much do homes in Lafayette, NJ cost?
Median Sold Price
$435,000
-
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Lafayette have sold for 6.5% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $181.2K | $225K | +24.1% |
| 2 Bedrooms | $245K | $292.4K | +19.4% |
| 3 Bedrooms | $374.9K | $342.5K | -8.7% |
| 4 Bedrooms | $580.5K | $622.5K | +7.2% |
| 5+ Bedrooms | $780K | $670K | -14.1% |
Summary: Lafayette housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 24.1%, 2 bedroom homes increased by 19.4%, 3 bedroom homes decreased by 8.7%, 4 bedroom homes increased by 7.2%, and 5+ bedroom homes decreased by 14.1%.
Median Sold Price Compared To Nearby Cities
| Lafayette | $408.6K | $435K | +6.5% |
| Sparta Township | $500K | $531.3K | +6.3% |
| Sparta | $500K | $531.3K | +6.3% |
| Lafayette Township | $437.3K | $440K | +0.6% |
Housing Supply in Lafayette, NJ
How many homes are available in Lafayette, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 13 | 17 | +30.8% |
Summary: The Lafayette real estate market had 17 homes for sale in March 2024, a 30.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 2 | 6 | +200.0% |
| 3 Bedrooms | 5 | 4 | -20.0% |
| 4 Bedrooms | 5 | 6 | +20.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Lafayette housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 200%, 3 bedroom homes decreased by 20%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 3 | +200.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Lafayette, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Lafayette in March 2024, up by 200.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for Lafayette, NJ
We’re sorry, we don't have information for this market at the moment
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