Assurance Financial Blog

Local Housing Market Trends in Lafayette

view of lafayette la

Lafayette, Louisiana, is at the heart of the state’s Cajun and Creole influences, giving it an authentic and historic identity that contributes to the vibrancy of this Southern city. From a rich culinary scene to a thriving arts scene, Lafayette combines some of the best elements of the South with a modern perspective.

Given this city’s vibrant history, it’s no wonder so many of its homes reflect this heritage. Whether you want an older home with plenty of character or a more modern build, plenty of options are available to make it easy for you to call Lafayette home.

As you look at potential homes, you may also want to look at housing market trends in Lafayette to ensure you can navigate the market as stress-free as possible.

Trends in the Lafayette Housing Market

The housing market in Lafayette has seen numerous fluctuations and has become competitive in recent years, with many homes selling in less than a few months. Current trends show that the median sales price of homes has decreased, with the median price per square foot increasing.

Current Housing Demands

Most homeowners receive multiple offers on their homes before selling. On average, homes sell for slightly less than their asking price and sell in less than two months. Most popular homes sell closer to their list price in just over two weeks.

Schools in Lafayette

Lafayette is part of the Lafayette Parish school system, which is one of the largest school districts in the state of Louisiana. Residents of Lafayette can only take advantage of school choice if their child currently attends one of the following schools:

  • Alice Boucher Elementary School
  • J.W. Faulk Elementary School
  • Dr. Raphael Baranco Elementary School

There are several schools in the Lafayette Parish School District, with 25 elementary, 12 middle and eight high schools.

Lafayette’s Climate

Lafayette is close to the Gulf of Mexico, which places it under a moderate flooding risk and an extreme wind risk during hurricane season. Lafayette is also under an extreme heat risk and in the next 30 years, it will see a sharp increase in days over 100 degrees.

a family spending time together in their new home

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Since the creation of Assurance Financial in 2001, our goal has been to create a seamless financing experience. Our team is here to help you find a loan option that best fits your needs, and we will handle the entire process in-house to make it smoother. Whether you need a conventional loan or want to explore other financing options, we’re here to help you buy the home of your dreams. Contact us to learn more or apply for a loan today!

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