With only 2.5 months of inventory, La Fayette remains a seller's market. Home prices have decreased 38.7% in the past month. With 2.5 months of supply, La Fayette's inventory levels remain relatively tight. Homes are taking about 85 days to sell, which is NaN days longer than this time last year. A significant 60.0% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Only 0.0% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the La Fayette market with the affordability index at 274.0. Based on current market indicators, home prices in La Fayette are projected to decrease by approximately 5.3% over the next month.
La Fayette, AL has a total population of 3,005 residents. White residents make up 30.3% of the population, African American residents comprise 63.3% of the community. The area shows moderate demographic diversity. The small population size creates an intimate community atmosphere in La Fayette, AL.
Market predictions for La Fayette, AL show an upward trend in home prices, with values increasing by 8.0%. This indicates a moderate but notable price trend. The current median home price in La Fayette, AL is approximately $125,329.955. Based on current trends, home prices in La Fayette, AL are expected to continue appreciating, making it an attractive market for sellers and long-term investors.
Investment hotspot data for La Fayette, AL is currently unavailable.
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