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Have Lafayette Home Values Been Affected? | The Lafayette Market Update | Keaty Real Estate

On this month’s real estate market update, we’re bringing you nothing but facts. We have the 8 highlights about the housing market that are affecting your home’s value in 110 seconds or less.

  1. Lafayette parish reported 316 homes sold last month. This is down 9.7% from the previous month and down 20.2% compared to September of 2021.
  2. The total sales volume last month was 88 million dollars and that’s down 19.5% over the prior month and down 21.2% year over year.
  3. 316 homes came onto the market in September and that is down 19% from the previous month.
  4. There were 319 homes that went pending in September. This is down 11.9% from the previous month but that represented 101% of all the new listings in September.
  5. The average amount of time a house stayed on the market in Lafayette parish was just 32 days. That’s up 12.5% from the previous month.
  6. The average sales price in September was $278,679. This is up 3.4% compared to September of last year.
  7. And the MLS reported 12% of the homes sold in September sold above list price and that is down 7% compared to September of last year. But this is well above average over the last decade.
  8. So why are buyers paying over list price when interest rates are rising and sales are slowing? It’s still a Seller’s Market! And we will most likely continue to see sales above list price at least until supply outpaces demand.

At Keaty Real Estate we pride ourselves on being expert advisors so if you’re thinking about moving up, moving down, moving away, or you just have a real estate question, reach out to us!

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