Before the calendar turns to summer and folks start to head for vacation, it is a good time to take stock and understand how Lafayette real estate has performed over the last year. Below is a summary of Multiple Listing Service (“MLS”) data for Lafayette residential detached home sales over the last twelve months from May 2016 to April 2017 (the prior-year comparison is from May 2015 to April 2016).
Inventory remains tight with the number of transactions down 14% (273 vs. 318). The average sales price is down by 2% ($1.539M vs. $1.576M), but this is a result of smaller homes being sold (the average home sold square footage was 2,580 vs. 2,728, a 5% decrease). The metric that matters most, price per square foot, is up 3% ($611 vs. $591). This is great news for Lafayette residents and reflective of the recent strong spring selling season.
The chart below summarizes sales price and price per square foot by home size for transactions over the last twelve months compared to the prior year.
The interactive map below includes every Lafayette residential detached transaction for the last twenty-four months and allows you to filter by home size and year (to filter transactions click on the "view larger map" icon on the top right of the map). In addition, each transaction is labeled with the sales price per square foot and by clicking on each transaction the home and transaction details will appear.
The tables below include each Lafayette residential detached transaction from May '16 to April '17 and from May '15 to April '16.
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