Is Lafayette, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Lafayette was a Seller's Market.
Key Takeaway
Lafayette is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Lafayette, TN
How much do homes in Lafayette, TN cost?
Median Sold Price
$270,000
$172/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Lafayette have sold for 8% more than they did a year ago.
Summary: The median home sold price in Lafayette was $270,000 in April 2024, up 8% 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 | $62.5K | $152.5K | +144.0% |
| 2 Bedrooms | $149.9K | $180.9K | +20.7% |
| 3 Bedrooms | $264.2K | $270K | +2.2% |
| 4 Bedrooms | $239.9K | $330K | +37.6% |
| 5+ Bedrooms | $303.7K | $387K | +27.4% |
Summary: Lafayette housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 144%, 2 bedroom homes increased by 20.7%, 3 bedroom homes increased by 2.2%, 4 bedroom homes increased by 37.6%, and 5+ bedroom homes increased by 27.4%.
Housing Supply in Lafayette, TN
How many homes are available in Lafayette, TN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 81 | 84 | +3.7% |
Summary: The Lafayette real estate market had 84 homes for sale in April 2024, a 3.7% increase 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 | 5 | 6 | +20.0% |
| 3 Bedrooms | 64 | 66 | +3.1% |
| 4 Bedrooms | 11 | 11 | 0.0% |
| 5+ Bedrooms | 0 | 1 | +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 increased by 20%, 3 bedroom homes increased by 3.1%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 18 | 10 | -44.4% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lafayette, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Lafayette in April 2024, down by 44.4% month-over-month. Of the 9 sold homes, 56% were sold under asking, 22% were sold at asking, and 22% were sold over asking.
Days on Market for Lafayette, TN
How long does it take to sell a home in Lafayette, TN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 27 Days | 28 Days | +3.3% |
Summary: Homes in Lafayette had an average of 28 days on market in Apr 2024, up by 3.3% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lafayette are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 10 homes were sold in Lafayette; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
© 2024 of the REALTRACS MLS. All rights Reserved. 
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Knoxville Area Association of REALTORS® Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some or all of the listings may not belong to the firm whose website is being visited. Real estate listings held by brokerage firms other than this broker are indicated by detailed information about them such as the name of the listing firms.