Is Lafayette Township, MO 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 Township has remained a Seller's Market.
Key Takeaway
Lafayette Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lafayette Township, MO
How much do homes in Lafayette Township, MO cost?
Median Sold Price
$439,280
$172/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Lafayette Township have sold for 6.5% more than they did a year ago.
Summary: The median home sold price in Lafayette Township was $439,280 in April 2024, up 6.5% from last year, and the median price per square foot was $172.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $129.9K | $188.7K | +45.3% |
| 2 Bedrooms | $222.5K | $245K | +10.1% |
| 3 Bedrooms | $365K | $382.5K | +4.8% |
| 4 Bedrooms | $450K | $490K | +8.9% |
| 5+ Bedrooms | $512.5K | $572.5K | +11.7% |
Summary: Lafayette Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 45.3%, 2 bedroom homes increased by 10.1%, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 8.9%, and 5+ bedroom homes increased by 11.7%.
Median Sold Price Compared To Nearby Cities
| Chesterfield | $489.7K | $531.1K | +8.5% |
| Ballwin | $341.2K | $369.3K | +8.3% |
| Lafayette Township | $412.5K | $439.2K | +6.5% |
| Clarkson Valley | $861.2K | $870K | +1.0% |
Housing Supply in Lafayette Township, MO
How many homes are available in Lafayette Township, MO?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 78 | 101 | +29.5% |
Summary: The Lafayette Township real estate market had 101 homes for sale in April 2024, a 29.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 13 | 15 | +15.4% |
| 3 Bedrooms | 31 | 45 | +45.2% |
| 4 Bedrooms | 29 | 35 | +20.7% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Lafayette Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 15.4%, 3 bedroom homes increased by 45.2%, 4 bedroom homes increased by 20.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 34 | 37 | +8.8% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lafayette Township, you could pay more than the asking price. 67.6% of homes here sold above asking price last month.
Summary: A total of 37 homes were sold or pending in Lafayette Township in April 2024, up by 8.8% month-over-month. Of the 37 sold homes, 19% were sold under asking, 14% were sold at asking, and 68% were sold over asking.
Days on Market for Lafayette Township, MO
How long does it take to sell a home in Lafayette Township, MO?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 24 Days | 15 Days | -36.3% |
Summary: Homes in Lafayette Township had an average of 15 days on market in Apr 2024, down by 36.3% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Lafayette Township are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 37 homes were sold in Lafayette Township; 81% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
Listings courtesy of Mid America Regional Information System as distributed by MLS GRID.