Is West Lafayette, IN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, West Lafayette has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $260K | $259.1K | -0.3% |
3 Bedrooms | $309.4K | $300K | -3.1% |
4 Bedrooms | $336K | $460K | +36.9% |
5+ Bedrooms | $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 2024 | May 2024 | CHANGE |
---|---|---|
36 | 75 | +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
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 2 | 5 | +150.0% |
3 Bedrooms | 11 | 26 | +136.4% |
4 Bedrooms | 15 | 33 | +120.0% |
5+ Bedrooms | 8 | 11 | +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 2024 | May 2024 | CHANGE |
---|---|---|
2 | 27 | +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
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 2023 | May 2024 | CHANGE |
---|---|---|
40 Days | 3 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
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.