February 2020 Lafayette Louisiana Real Estate Market Report
February 2️⃣0️⃣2️⃣0️⃣ is off to a record start!!!🔥🔥
Lafayette’s Real Estate Market EXPLODED 💣🧨 out of the gates for both January & February.
251 Closed Sales in 2020
240 Closed Sales in 2019
Sales Units are up 4.5% in February AND up 32% YTD!
Average sales price is up 8% 🙌🏼
397 new listings came on to the market which is up 18% in February, but only 6% YTD, in other words Lafayette’s inventory supply is not keeping up with the demand
The next thing is the number of homes that are coming off the market. That number is 336 or an 18.7% increase
Where is all of this momentum coming from?
✅30 year fixed rates 3.0%
✅15 year fixed rates 2.625%
✅FHA/VA/RD right at 3%!!!
✅Jumbo – 3.875%
Rates are currently in a holding pattern at these 4 year lows. Your buying power increases tremendously with these record rates.
Record Sales from January 2020 coupled with record low interest rates tells us we should be in for a treat for 2020.
If you are thinking of buying or selling in 2020, you can, call text or email me. I would love to help you!
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Robbie Breaux & Team at eXp Realty, LLC.
3 Flagg Place, Unit B4 | Lafayette, LA 70508
Office: (337) 267-4099 | Email: Info@RobbieBreaux.com
Licensed in Louisiana