Is Lafayette, LA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$235,000
$139/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Lafayette was $235,000 in April 2024, down 3.7% from last year, and the median price per square foot was $139.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $79.2K | $92K | +16.1% |
2 Bedrooms | $132K | $135K | +2.3% |
3 Bedrooms | $230.1K | $220K | -4.4% |
4 Bedrooms | $321.3K | $325.1K | +1.2% |
5+ Bedrooms | $614K | $622.4K | +1.4% |
Summary: Lafayette housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.1%, 2 bedroom homes increased by 2.3%, 3 bedroom homes decreased by 4.4%, 4 bedroom homes increased by 1.2%, and 5+ bedroom homes increased by 1.4%.
Median Sold Price Compared To Nearby Cities
Carencro | $220K | $220K | 0.0% |
Scott | $231.9K | $225K | -3.0% |
Lafayette | $244K | $235K | -3.7% |
Broussard | $314.8K | $299K | -5.0% |
Housing Supply in Lafayette, LA
How many homes are available in Lafayette, LA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
792 | 802 | +1.3% |
Summary: The Lafayette real estate market had 802 homes for sale in April 2024, a 1.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 12 | 10 | -16.7% |
2 Bedrooms | 108 | 117 | +8.3% |
3 Bedrooms | 377 | 388 | +2.9% |
4 Bedrooms | 241 | 235 | -2.5% |
5+ Bedrooms | 54 | 52 | -3.7% |
Summary: The Lafayette housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16.7%, 2 bedroom homes increased by 8.3%, 3 bedroom homes increased by 2.9%, 4 bedroom homes decreased by 2.5%, and 5+ bedroom homes decreased by 3.7%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
137 | 166 | +21.2% |
Asking Price vs. Sold Price
96 Homes Were Sold
Under Asking
57 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Summary: A total of 166 homes were sold or pending in Lafayette in April 2024, up by 21.2% month-over-month. Of the 166 sold homes, 58% were sold under asking, 34% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
49 Days | 64 Days | +30.4% |
Summary: Homes in Lafayette had an average of 64 days on market in Apr 2024, up by 30.4% compared to last year.
Breakdown of Home Sale Times
93 Homes Were Sold
Under 30 Days
28 Homes Were Sold
In 30 - 90 Days
45 Homes Were Sold
Over 90 Days
Summary: During April 2024, 166 homes were sold in Lafayette; 56% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 27% of homes were sold over 90 days.