Is Lafayette County, LA 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, Lafayette County has remained a Seller's Market.
Housing Prices in Lafayette County, LA
How much do homes in Lafayette County, LA cost?
Median Sold Price
$240,903
$145/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lafayette County was $240,903 in May 2024, down 3.6% from last year, and the median price per square foot was $145.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $77.5K | $96K | +23.9% |
2 Bedrooms | $134.3K | $135K | 0.5% |
3 Bedrooms | $233.7K | $226.9K | -2.9% |
4 Bedrooms | $337.2K | $339.8K | +0.8% |
5+ Bedrooms | $557.5K | $610K | +9.4% |
Summary: Lafayette County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.9%, 2 bedroom homes increased by 0.5%, 3 bedroom homes decreased by 2.9%, 4 bedroom homes increased by 0.8%, and 5+ bedroom homes increased by 9.4%.
Median Sold Price Compared To Nearby Counties
Acadia County | $172K | $180K | +4.7% |
Saint Landry County | $167K | $168K | +0.6% |
Saint Martin County | $217K | $210K | -3.2% |
Lafayette County | $249.9K | $240.9K | -3.6% |
Vermilion County | $209.5K | $165K | -21.2% |
Housing Supply in Lafayette County, LA
How many homes are available in Lafayette County, LA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
1,279 | 1,265 | -1.1% |
Summary: The Lafayette County real estate market had 1,265 homes for sale in May 2024, a 1.1% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 16 | 18 | +12.5% |
2 Bedrooms | 130 | 141 | +8.5% |
3 Bedrooms | 673 | 658 | -2.2% |
4 Bedrooms | 388 | 377 | -2.8% |
5+ Bedrooms | 72 | 71 | -1.4% |
Summary: The Lafayette County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.5%, 2 bedroom homes increased by 8.5%, 3 bedroom homes decreased by 2.2%, 4 bedroom homes decreased by 2.8%, and 5+ bedroom homes decreased by 1.4%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
250 | 246 | -1.6% |
Asking Price vs. Sold Price
114 Homes Were Sold
Under Asking
97 Homes Were Sold
At Asking
35 Homes Were Sold
Over Asking
Summary: A total of 246 homes were sold or pending in Lafayette County in May 2024, down by 1.6% month-over-month. Of the 246 sold homes, 46% were sold under asking, 39% were sold at asking, and 14% were sold over asking.
Days on Market for Lafayette County, LA
How long does it take to sell a home in Lafayette County, LA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
50 Days | 52 Days | +3.0% |
Summary: Homes in Lafayette County had an average of 52 days on market in May 2024, up by 3% compared to last year.
Breakdown of Home Sale Times
128 Homes Were Sold
Under 30 Days
65 Homes Were Sold
In 30 - 90 Days
53 Homes Were Sold
Over 90 Days
Summary: During May 2024, 246 homes were sold in Lafayette County; 52% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.