2024 Lafayette Parish Real Estate Recap
Hey Lafayette homeowners, it’s J. Ray, your favorite real estate agent, here to wrap up an exciting year in the Lafayette Parish real estate market! As we say goodbye to 2024 and welcome 2025, let’s take a moment to look back at how the market performed and what it means for buyers and sellers moving forward.
2024 Market Highlights
1. Homes Sold:
Lafayette Parish saw 3,187 homes sold in 2024, reflecting a 3.6% increase compared to 2023. This uptick in sales demonstrates that the market remained strong and resilient throughout the year, despite changing economic conditions.
2. Days on Market:
Homes stayed on the market for an average of 64 days, which is 14% longer than in 2023. While homes took slightly longer to sell this year, they still sold significantly faster compared to pre-pandemic levels in 2019, when the average was 88 days.
3. Average Sale Price:
The average sale price in 2024 was $288,682, marking a 1.8% increase from 2023. Compared to pre-pandemic prices in 2019, this represents an impressive 27.9% growth, reinforcing the value of Lafayette real estate as a sound investment.
4. Inventory Levels:
As of the end of 2024, there are 1,143 active listings, which is a 31% increase from the beginning of 2023. However, inventory levels are still 28% lower than 2019, indicating that demand continues to outpace supply.
What This Means for Buyers
If you’ve been thinking about buying a home, now is a great time to act. With more listings on the market and stable interest rates, buyers have more options to find their perfect home without the frantic competition we saw in recent years. Whether you’re looking for your first home or your forever home, 2024’s market conditions provide an excellent opportunity to make your move.
What This Means for Sellers
For sellers, the 2024 market offered stable home prices and strong demand. However, with homes staying on the market slightly longer and more inventory available, it’s more important than ever to price your home competitively and present it in its best light. A strong marketing strategy will help your home stand out to serious buyers.
Looking Ahead to 2025
As we move into 2025, the Lafayette real estate market remains healthy and stable. Buyers can look forward to more inventory and continued affordability, while sellers can still benefit from stable home values. Whether you’re buying, selling, or simply exploring your options, having the right guidance is key.
If you’d like to know more about the local market or want personalized advice, give me a call at 337-230-0664. Let’s make 2025 the year you achieve your real estate goals!
Thank You for an Amazing Year
Thank you for trusting me, J. Ray, and Keaty Real Estate to be part of your real estate journey in 2024. It’s been a pleasure helping so many of you find your dream homes, sell your properties, and make informed decisions in this ever-changing market.
Until next month, I’m J. Ray, your favorite real estate agent. Here’s to a successful and rewarding 2025!
About Jason Ray – Keaty Real Estate
Jason Ray is a trusted real estate professional serving Lafayette Parish and the surrounding areas. With years of experience and a deep understanding of the local market, Jason is dedicated to helping clients achieve their real estate dreams.
📞 Contact Information:
- Phone/Text: 337-230-0664
- Email: jray@keatyrealestate.com
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