There are many great Lafayette area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation
so you know what buyers will pay for your home in today's market. You
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The November numbers are in, folks! Today, we're going to take a look at the market trends we saw in Lafayette last month and discuss what we expect to see in the future.
Sales in November were up 12%, which brings us up 2.25% over last year. We have great news for homeowners, as the average sales price went from $211,900 to $222,000. In other words, home values are moving in the right direction.
Homes going under contract were up 38% compared to this time last year. New construction has been a huge factor in our expanding market, which saw new listings jump 35% over November of last year. Despite the jump in listings, supply is sitting at four months, so
things are moving really quickly. However, homes over $300,000 are
lagging, as inventory for those properties sits around the seven month
mark. The best news is that interest rates are still fantastic, hovering just above 4%.
The
November numbers indicate our market is healthy and growing. If you
think you might want to take advantage of these conditions, or have any
questions about real estate in your area, don't hesitate to give us a
call or shoot us an email. We would love to hear from you!
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