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We have been seeing some great signs in the Lafayette real estate market lately. Today we are going to run through the statistics for July and give you an update on those.
July's market statistics look really good. We have seen a 7.5% increase in units, a 13.5% increase in dollar volume, and a huge increase in new construction.
Another thing that's on the rise is our average sale price. It has gone up 5.5% and now sits at $268,500. Overall, our listing inventory is up 5% and new construction is down a little bit.
Right now, we are looking at a 4.5 month supply of inventory on homes listed under a million. The most activity in our market, however, is seen in the $150,000- $300,000 price range, where there is about 3-4 months of inventory.
Interest rates are still doing fantastic. A 30-year fixed rate can be had for 4% and 15-year fixed loans are even lower at about 3.375%.
Overall, the market looks really strong and there is a lot of movement. If you have any questions for us, we would love for you to give us a call or send us an email. We would be happy to help out!
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