Is Lafayette, TN 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, TN
How much do homes in Lafayette, TN cost?
Median Sold Price
$269,900
$172/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Lafayette was $269,900 in March 2024, up 8% from last year, and the median price per square foot was $172.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $62.5K | $152.5K | +144.0% |
2 Bedrooms | $149.9K | $180K | +20.1% |
3 Bedrooms | $264.9K | $269.9K | +1.9% |
4 Bedrooms | $234.9K | $384.9K | +63.8% |
5+ Bedrooms | $303.7K | $387K | +27.4% |
Summary: Lafayette housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 144%, 2 bedroom homes increased by 20.1%, 3 bedroom homes increased by 1.9%, 4 bedroom homes increased by 63.8%, and 5+ bedroom homes increased by 27.4%.
Housing Supply in Lafayette, TN
How many homes are available in Lafayette, TN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
64 | 79 | +23.4% |
Summary: The Lafayette real estate market had 79 homes for sale in March 2024, a 23.4% 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 | 6 | 5 | -16.7% |
3 Bedrooms | 48 | 62 | +29.2% |
4 Bedrooms | 9 | 11 | +22.2% |
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 decreased by 16.7%, 3 bedroom homes increased by 29.2%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
10 | 17 | +70.0% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 17 homes were sold or pending in Lafayette in March 2024, up by 70.0% month-over-month. Of the 16 sold homes, 88% were sold under asking, 6% were sold at asking, and 6% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
67 Days | 57 Days | -14.9% |
Summary: Homes in Lafayette had an average of 57 days on market in Mar 2024, down by 14.9% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 17 homes were sold in Lafayette; 41% of homes were sold within 30 days, 47% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.