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The numbers for February are in! Today, we take a look at what they mean for the health of the Lafayette market and what it means for you!
We're really not seeing any signs that the market is going to slow down. We've seen a 6.5% increase in pending sales and a 17% increase in resale homes. On the other hand, new construction listings are down 22%, so you'll probably see fewer options out there if that's what you're looking to do.
Sales are about dead-even from where they were last year - we had 222 in February of 2014 and 228 in 2015, for a total increase of 2.7%. The most surprising trend is the appreciation we've seen, as the dollar volume has increased by 9% over this time last year. This is likely because more homes have sold in the $300,000 and above price range.
We're really not seeing any signs that the market is going to slow down. We've seen a 6.5% increase in pending sales and a 17% increase in resale homes. On the other hand, new construction listings are down 22%, so you'll probably see fewer options out there if that's what you're looking to do.
Rates are still incredibly low, hovering around 4%. This is great news, as we were expecting rates to jump to around 5% by this time. If you have any questions about these ideal market conditions, or if you need real estate assistance of any kind, give us a call or shoot us a quick email. We look forward to hearing from you soon!
Great info!
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