Lafayette Market Update: Sellers Need to Take Advantage of a Fast-Paced Market!

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 may also call me at (337) 267-4099 for a FREE home buying or selling consultation to answer any of your real estate questions.

The first two months of 2014 are almost identical to what numbers were like this time last year – which was the best year that Lafayette has ever seen. The market is currently swinging in favor of the sellers in which properties are moving fast and for high values. We are also noticing an influx in properties and this is something sellers need to take advantage of.

With the influx of inventory, buyers will also have more homes to choose from versus last year when there only a limited amount. Our current inventory levels remain at around 4.5-5 months and interest rates continue to hover around 4-4.5%, which we hope will stabilize as the year continues. Our average sales price is holding steady at $207,000 in comparison to $209,000 at this time last year. This change could be attributed to fewer higher price point homes selling. Overall, the market is rocking and is proving to be great for both buying and selling.

If you have any questions or are looking to buy or sell, feel free to give me a call or send me an email. Thanks and have a great day!

Why is it important that you price your home accurately?

 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 may also call me at (337) 267-4099 for a FREE home buying or selling consultation to answer any of your real estate questions.

 Why is Accurately Pricing Your Home Important

Today I wanted to speak with you about the importance of pricing your home properly. We are finding that one of the hazards of our busy market is that sellers are trying to take advantage of the “beefed up” market; they are typically pricing their home 15-20% higher than what everything else is selling for. For people who are trying this strategy, I wanted to caution you the longer a property sits on the market, it becomes stale. When a home becomes stale, buyers typically wonder if there is a problem with the property.

As your home sits on the market and becomes stale, buyers begin to repeatedly see your property come up online and wonder why everyone is passing on it. They wonder if there is something they don’t know about the home or if there is something that needs to be done with the house. These reasons are we go through the technical process of crunching the numbers for you and avoiding the market analysis that the average agents are performing.

We have our detail dialed into national, parish, subdivision and street levels because they all come into play when pricing your home. Since your home isn’t the center of the universe, we want you to be aware of everything that is happening around you. Now that the holidays are over, we’re beginning to see a rush of people listing their homes. It is a great time to list your home now that buyers coming off the fence from the holiday season. Buyers are ready to move!

If you’re interested in selling your home, we would love to speak with you. Please call us at (337) 267-4099 or email us at info@robbiebreaux.com; we would love to hear from you. Thanks and have a great day!

Lafayette is a seller's market - List your home to get top dollar and a short waiting time

Today I wanted to answer one of the most popular topics and that is the state of the current market. Before I get started, I wanted to let you know about a free service that is available to everyone. For buyers, we offer a free home search that has every available home on the market for viewing at www.searchhomesinlafayette.com. If you’re a seller, we provide a free home valuation tool at www.mylafayettelahomevalue.com.

For the state of the market, we are currently in a seller’s market with a 3.9 month’s supply of inventory. The market sweet spot appears to be in the $150,000-299,000 range where 60% of home sales have been. That price range is experiencing a 3.5 month supply of homes with properties selling very quickly. If you’re a buyer and are looking at a home, there are multiple people looking at the same property so keep that in mind when you’re out looking. We are also advising sellers to be competitive with other properties on the market. This means you won’t be able to get away with an exorbitant increase in price as you have experienced a few years back.

In other news, Lafayette has been ranked best mid-size city and best city in the South by Area Development. You can view this article here. Congratulations Lafayette! If you or anyone else you know is interest in buying a home, please give us a call or send us an email. Thanks and have a great day!