There has been so much negative media all around the U.S. telling us that the housing market is terrible and that foreclosures are rampant;  however, Louisiana ranks 42nd in number of foreclosures, which is down from last year.  It's nice to be number 42 and not No. 1 or No. 2 when it pertains to bad news.

The fact is that the economy is good in Acadiana and it is a good time to buy a home.  Real estate is local, thus buyers and sellers must get local facts.  Prices have remained relatively stable here, interest rates have not gone up, and there is a good selection of properties from which to choose.  This is good news for anyone wanting to buy or sell in the Lafayette/Acadiana area.

2007/2008 Statistics for Lafayette Parish (taken from the Realtor Association of Acadiana Multiple Listing Service:   Lafayette Parish includes cities such as:  Lafayette, Scott, Carencro, Duson, Broussard, and Youngsville

Homes Sold from 1/1/2007 - 12/31/2007:

Total                    List Price/Sold Price          Average List Price/Average Sold Price         Avg. Days on Market      

2542             $532,503,555 / $520,566,583                 $209,482 / $204,786                                  71           

Homes Sold from 1/1/2008 - 6/30/2008:

Total                    List Price/Sold Price          Average List Price/Average Sold Price        Avg. Days on Market 

 1810               $323,389,285 / 313,453,145                   $172,827 / 168,416                                 100

*Statistics from Realtor Association of Acadiana Multiple Listing Service

Statistics such as these show what a strong housing market we have in Lafayette Parish.   New construction is still strong as well as existing home sales. 

Please contact me if you wish any further statistics regarding our housing market.