Lafayette Real Estate Market Report

TABLE OF CONTENTS
Charts and Commentary ……………………………………………….. Pages 1-2
Market Summary Table ……………………………………………….. Page 3
Glossary ………………………………………………………………... Page 4
27 28 29 30
20 21 22 23
13 14 15 16
10 11 12
201417 18 19
24 25 26
6 7 8 9
1 2
Th F Sa Sunday, April 6
3 4 5
Su M Tu W
SINGLE FAMILY LAFAYETTESINGLE FAMILY LAFAYETTESINGLE FAMILY LAFAYETTESINGLE FAMILY LAFAYETTE
REAL ESTATE MARKET REPORT
Robbie Breaux & Team
Van Eaton & Romero
2000 Kaliste Saloom Road, Ste 101
Lafayette, Louisiana 70508
www.RobbieBreaux.com
info@robbiebreaux.com
(337) 267-4099
broknoz
breauxknows
breauxknows
Real Market Reports
www.RealMarketReports.com

at the real estate market. Currently
there are 498 sales pending in the
market overall, leaving 920 listings still
for sale. The resulting pending ratio is
35.1% (498 divided by 1,418). So you
might be asking yourself, that's great...
but what exactly does it mean? I'm
glad you asked!
The pending ratio indicates the supply
& demand of the market. Specifically,
a high ratio means that listings are in
demand and quickly going to contract.
Alternatively, a low ratio means there
are not enough qualified buyers for the
existing supply.
"Current inventory is described
as mildly active."
Taking a closer look, we notice that
the $150K - $200K price range has a
relatively large number of contracts
pending sale.
We also notice that the $150K - $200K
price range has a relatively large
inventory of properties for sale at 261
listings. The median list price (or
asking price) for all properties in this
market is $217,950.
A total of 2212 contracts have closed
in the last 6 months with a median sold
price of $192,000. Breaking it down,
we notice that the $150K - $200K price
range contains the highest number of
sold listings.
Alternatively, a total of 652 listings
have failed to sell in that same period
of time. Listings may fail to sell for
many reasons such as being priced
too high, having been inadequately
marketed, the property was in poor
condition, or perhaps the owner had
second thoughts about selling at this
particular time. The $150K - $200K
price range has the highest number of
off-market listings at 149 properties.
0
50
100
150
200
250
300
$0K
$50K
$100K
$150K
$200K
$250K
$300K
$350K
$400K
$450K
$500K
$550K
$600K
$650K
$700K
Properties For Sale
Contracts Pending
0
100
200
300
400
500
600
700
800
$0K
$50K
$100K
$150K
$200K
$250K
$300K
$350K
$400K
$450K
$500K
$550K
$600K
$650K
$700K
Sold
Off-Market
Single Family Lafayette
Number of Listings For Sale vs. Pending Contract
Num Sold vs. Off-Market (Last 6 mos.)
Let's take a look
1Real Market Reports
Updated 4/6/2014, RealMarketReports.com
Copyright © Robbie Breaux & Team
Sunday, April 6, 2014
Market Dashboard
Van Eaton & Romero
(337) 267-4099

Looking at the chart to the right, you
might be wondering why average days
on market (DOM) is important. This is
a useful measurement because it can
help us to determine whether we are
in a buyer's market (indicated by high
DOM), or a seller's market (indicated
by low DOM). Active listings
(properties for sale) have been on the
market for a median time of 83 days.
Analysis of sold properties for the last
six months reveals a median sold
price of $192,000 and 46 days on
market. Notice that properties in the
$50K - $100K price range have sold
quickest over the last six months.
The recent history of sales can be
seen in the two charts below. The
median sold price for the last 30 days
was $212,450 with a DOM of 57 days.
Since the recent DOM is greater than
the median DOM for the last 6 months,
it is a negative indicator for demand. It
is always important to realize that real
estate markets can fluctuate due to
many factors, including shifting interest
rates, the economy, or seasonal
changes.
Ratios are simple ways to express the
difference between two values such as
list price and sold price. In our case,
we typically use the list-to-sale ratio to
determine the percentage of the final
list price that the buyer ultimately paid.
It is a very common method to help
buyers decide how much to offer on a
property.
"The median list-to-sales ratio
for this area is 98.5%."
Analysis of the absorption rate
indicates an inventory of 2.5 months
based on the last 6 months of sales.
This estimate is often used to
determine how long it would take to
sell off the current inventory of
properties if all conditions remained
the same. It is significant to mention
that this estimate does not take into
consideration any additional properties
that will come onto the market in the
future.
0
20
40
60
80
100
120
140
160
180
200
$0K
$50K
$100K
$150K
$200K
$250K
$300K
$350K
$400K
$450K
$500K
$550K
$600K
$650K
$700K
Sold
For Sale
$170K
$175K
$180K
$185K
$190K
$195K
$200K
$205K
$210K
$215K
Nov Dec Jan Feb Mar Apr
0
10
20
30
40
50
60
70
80
90
Nov Dec Jan Feb Mar Apr
Median Days on Market (DOM)
Median Days on Market (Sold)
Median Sold Prices
Market Dashboard
Van Eaton & Romero
(337) 267-4099

A A
M M
A A
M M
A A
M M
A A
M M
A A
M M
A A
M M
A A
M M
A A
M M
A A
M M
A A
M M
A A
M M
A A
M M
A A
M M
A A
M M
A A
M M
Date Range (Off-Market & Sold) = 10/06/2013 to 04/06/2014
Data believed to be accurate but not guaranteed.
2.5
91
45
33% 26
$250,000 $299,999 85
$300,000 $349,999 48
371,461$
$350,000 $399,999 36
119
18
107
41
383,437$
74
273,741$
270,000$
52 329,900$
223,193$ 98%
99%
330,021$
99%
98%
461
79
70 220,000$
140
99%
176,250$
49
226,767$
52
225,000$ 221,000$ 98%
134,900$ 130,299$
83 176,993$ 174,409$
125 77,300$ 43
343
71
81 134,900$
51 106
131,604$
94%
79,900$ 75,750$ 95%
71 80,612$ 75,821$
41,205$ 36,350$ 88%
42,800$ 38,739$
44
110
46
4 18%
40,950$
27
MARKET SUMMARY TABLE 498 PENDING
[2]
$0 $49,999 18
205
144
Pend
Ratio
39,594$
Num
#
Num
#
Num
#
2212 SOLD/CLOSED (last 6 months)
[4]
Days
on
Market
Original
List
Price
Final
List
Price
Sold/
Closed
Price
652 OFF-MARKET (last 6 mos)
[3] ABSORPTION RATE
(months of inventory)
Days
on
Market
Current
List
Price
A = Average Value
M = Median Value
N/A = Not Available
920 ACTIVE
[1]
List-
Sale
Ratio
Est.
Mos.Low High
Price Range Num
#
91%
$50,000 $99,999 53
208 76,416$
14 21%
$100,000 $149,999 67
137
57 46% 84
97%35
132,860$ 129,186$ 97%
184,900$
$150,000 $199,999 261
157
82
$200,000 $249,999 182
123
698
174,087$ 99%
223,997$
115 39%
182,658$
160 38% 149
236
71111 270,278$
29
40%
267,500$
164 323,351$
32
273,602$
56
90 269,777$
111 317,825$ 325,000$ 99%
40%
324,784$
374,936$ 98%
79 367,550$ 54 385,000$ 375,250$ 97%
76
$400,000 $449,999 29
114 107 434,760$426,245$
18 38% 19
425,902$ 98%
73 421,900$ 67 434,500$ 426,000$ 98%
50
$450,000 $499,999 30
121 122 487,019$478,487$
7 19% 16
470,519$ 97%
94 480,900$ 48 485,000$ 467,000$ 96%
21
$500,000 $549,999 23
81 95 533,329$524,570$
3 12% 7
529,678$ 99%
66 519,400$ 54 533,175$ 533,175$ 100%
13
$550,000 $599,999 11
89 144 591,933$580,064$
3 21% 5
571,949$ 97%
41 573,000$ 127 584,050$ 575,000$ 98%
18
$600,000 $649,999 10
76 97 643,021$623,676$
1 9% 4
615,934$ 96%
56 628,930$ 81 646,670$ 615,000$ 95%
13
$650,000 $699,999 8
181 100 697,565$681,175$
3 27% 4
674,236$ 97%
172 685,000$ 47 699,000$ 680,000$ 97%
14
$700,000 + 59
210
174
1,141,356$
7 11% 34
899,000$ 812,500$ 94%
28
210
81
935,375$ 94%994,754$
83 227,540$
867,450$
652 2212
Market Averages 145 302,564$
Market Totals 920 498 35%
222,607$ 98%
Market Medians 83 217,950$ 46 195,000$
Status = [1] A; [2] C, P; [3] X, W; [4] S
Area = B, C, D, E, F, G1, G2, G3, K, N, O, H, P
Property Type = DETACHED SINGLE FAMILY
192,000$ 98%
2.5
3
1.2
2.2
2.4
2.2
3.2
2.8
4.6
3.4
12.6
3.5
8.6
10.6
3.7
Market Summary Table
Van Eaton & Romero
(337) 267-4099
Favors Sellers Favors Buyers

1. PROPERTIES FOR SALE (ACTIVE)
a. Number Active: The number of listings for sale which are currently being marketed but do not yet have a purchase
agreement.
b. Days on Market (DOM): The marketing period of currently active listings. This does not account for some listings
which have had a previous listing period, but were re-entered as a new listing.
c. Current List Price: The price that a property seller is currently asking.
2. CONTRACTS PENDING
a. Number Pending: The number of current listings for which a contract has been signed but has not yet closed.
b. Pending Ratio: Sometimes called a “list-to-pending ratio”. This is a measure of how fast properties are going under
contract vs. how fast they are being listed.
Pending Ratio = P (Number of Pending Listings)
A+P (Number of Active + Pending)
(P) represents properties that buyers have chosen
(A+P) represents the entire pool from which they have chosen
3. OFF-MARKET
a. Number Off-Market: The number of listing agreements that have failed to close in the last 6 months. Some
owners may choose to re-offer their property for sale.
4. PROPERTIES SOLD (CLOSED CONTRACT)
a. Number Sold: The number of properties that have gone to a closing in the last 6 months.
b. Days on Market (DOM): The marketing time it has taken properties to sell in the last 6 months.
c. Original List Price: The price at which a sold property was originally marketed.
d. Final List Price: The price at which a sold property was marketed just prior to selling.
e. Sold/Closed Price: The price for which a property sold.
f. List to Sales Ratio: The percentage of the list price that the buyer ultimately paid for the property.
List to Sales Ratio = Sold Price
Final List Price
5. ABSORPTION RATE / MONTHS OF INVENTORY
a. Absorption Rate / Months of Inventory: An estimate of how fast listings are currently selling measured in months.
For example, if 100 properties sell per month and there are 800 properties for sale - there is an 8 month supply of
inventory before counting the additional properties that will come on the market.
Real Market Reports
4
Glossary
Van Eaton & Romero
(337) 267-4099

Lafayette Real Estate Market Report

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