Is Lafayette, NJ 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.
Key Takeaway
Lafayette is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lafayette, NJ
How much do homes in Lafayette, NJ cost?
Median Sold Price
$435,000
-
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Lafayette have sold for 0.5% less than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $172.5K | $225K | +30.4% |
| 2 Bedrooms | $262.5K | $294.9K | +12.3% |
| 3 Bedrooms | $408.6K | $342.5K | -16.2% |
| 4 Bedrooms | $585K | $615K | +5.1% |
| 5+ Bedrooms | $752.5K | $670K | -11.0% |
Summary: Lafayette housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 30.4%, 2 bedroom homes increased by 12.3%, 3 bedroom homes decreased by 16.2%, 4 bedroom homes increased by 5.1%, and 5+ bedroom homes decreased by 11%.
Median Sold Price Compared To Nearby Cities
| Sparta | $500K | $544K | +8.8% |
| Sparta Township | $501.6K | $540.5K | +7.7% |
| Lafayette | $437.3K | $435K | -0.5% |
| Lafayette Township | $441.1K | $435K | -1.4% |
Housing Supply in Lafayette, NJ
How many homes are available in Lafayette, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 17 | 16 | -5.9% |
Summary: The Lafayette real estate market had 16 homes for sale in April 2024, a 5.9% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 6 | 5 | -16.7% |
| 3 Bedrooms | 4 | 3 | -25.0% |
| 4 Bedrooms | 6 | 6 | 0.0% |
| 5+ Bedrooms | 0 | 2 | +100.0% |
Summary: The Lafayette housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 16.7%, 3 bedroom homes decreased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 4 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lafayette, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in Lafayette in April 2024, the same as the previous month. Of the 4 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% were sold over asking.
Days on Market for Lafayette, NJ
We’re sorry, we don't have information for this market at the moment
