Lafayette Market Update for February 2016

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Today we’ve got a quick market update for you for January 2016. Last year, we eked out a .64% increase in sales compared to 2014. We did see a drop in sales at certain points throughout the year, but ended the year with an overall increase.

Many of the numbers we saw this January were very comparable to the numbers we saw last January. For example, we sold 196 homes in January of 2015, and sold 195 in January of 2016.

Our average sales price has dropped a bit, and now sits at $216,000, but that’s likely due to the lower price ranges moving at a quicker pace than the rest of the market. We are also seeing an increase in new construction, and that shows in the year-over-year drop in the number of homes listed in Lafayette.

As for the amount of inventory we have on the market right now, it’s sitting at about an 8.5, 9-month supply, where most of our action is coming in the $300,000 and below range.

If you have any questions for us about the market, or want to know what your home could sell for, give us a call or send us an email. We look forward to hearing from you!