Home sales drop 15% in Lafayette - 2TheAdvocate

15.01.09

LAFAYETTE — Home sales in Lafayette Parish were down nearly 15 percent in 2008 compared with 2007, but the median home sales price dipped by less than 1 percent for the same period, according to an annual report on the local real estate market.

The drop in sales was expected, considering the state of the national economy, and comes after a series of record sales years that began after hurricanes Katrina and Rita in 2005, said Van Eaton & Romero CEO Bill Bacqué, who compiled the market report based on figures from the Realtor Association of Acadiana.

“The thing I would stress to everyone is you have to consider where we have been,” he said.

The report, based on sales listings from Realtors, shows 2,284 homes were sold in Lafayette Parish in 2008 compared with 2,675 in 2007, a drop of nearly 15 percent.

When including sales in surrounding parishes, the drop was 14 percent for the region.

The median sales price in Lafayette Parish fell during the same period from $171,000 to $170,000, down by half a percent.

Source: 2TheAdvocate, LA

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