Is West Lafayette, IN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing West Lafayette is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, West Lafayette has remained a Seller's Market.

Key Takeaway

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

Housing Prices in West Lafayette, IN

How much do homes in West Lafayette, IN cost?

Median Sold Price

$410,000

$168/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$77,000(+23.1%)

Key Takeaway

Homes in West Lafayette have sold for 23.1% more than they did a year ago.

Summary: The median home sold price in West Lafayette was $410,000 in May 2024, up 23.1% from last year, and the median price per square foot was $168.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $260K$259.1K
-0.3%
3 $309.4K$300K
-3.1%
4 $336K$460K
+36.9%
5+ $487.4K$559.5K
+14.8%

Summary: West Lafayette housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 0.3%, 3 bedroom homes decreased by 3.1%, 4 bedroom homes increased by 36.9%, and 5+ bedroom homes increased by 14.8%.

Housing Supply in West Lafayette, IN

How many homes are available in West Lafayette, IN?

Number of Homes For Sale

Apr 2024May 2024CHANGE
3675+108.3%

Summary: The West Lafayette real estate market had 75 homes for sale in May 2024, a 108.3% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 25
+150.0%
3 1126
+136.4%
4 1533
+120.0%
5+ 811
+37.5%

Summary: The West 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 increased by 150%, 3 bedroom homes increased by 136.4%, 4 bedroom homes increased by 120%, and 5+ bedroom homes increased by 37.5%.

Number of Homes Sold

Apr 2024May 2024CHANGE
227+1250.0%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in West Lafayette, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.

Summary: A total of 27 homes were sold or pending in West Lafayette in May 2024, up by 1250.0% month-over-month. Of the 27 sold homes, 44% were sold under asking, 22% were sold at asking, and 33% were sold over asking.

Days on Market for West Lafayette, IN

How long does it take to sell a home in West Lafayette, IN?

Average Sale Time

May 2023May 2024CHANGE
40 Days3 Days-92.6%

Summary: Homes in West Lafayette had an average of 3 days on market in May 2024, down by 92.6% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in West Lafayette are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 27 homes were sold in West Lafayette; 4% of homes were sold within 30 days, 0% 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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