Lafayette, LA Foreclosures Slowly Rising

Lafayette’s foreclosure listings have risen slightly in the past few months while the percentage of bank owned properties sold has remained pretty much the same. In April, I wrote that the percentage of active foreclosures on the market was 4.75% for Acadiana and 3.3% for Lafayette parish. It is now 6% for Acadiana and 4% for Lafayette parish (it is 4% also for the city of Lafayette).

REO listings in Lafayette, LA as of December 2011Since April, the percentage of bank owned properties sold has remained stable. In Acadiana it is down 1% (from 14% to 13%) and in Lafayette parish it is the same at 8%. These graphs were produced using sold information in our MLS for all listings and REOs between June 1st and December 4th 2011.

Sold bank owned properties in Lafayette, LA june-december 2011If we compare to the same period last year, the percentage of sold foreclosures is up 2% in both Acadiana and in Lafayette parish. Not a large increase, but an increase nevertheless.

Sold bank owned properties in Lafayette, LA 2010

The average price for sold foreclosures in Lafayette parish in the past 6 months was $122,770 with a median price of $108,500. Only 10 of the 90 sold REOs were above $200,000.
As for currently active REO properties in Lafayette parish, the average price is $109,252 with a median price of $105,000. Only 4 properties are listed for more than $200,000 and none above $220,000. The foreclosure market in Lafayette and Acadiana is certainly great for investors and first-time home buyers at this point.

One Response to Lafayette, LA Foreclosures Slowly Rising
  1. […] for 18.8% of residential sales in Acadiana and 11.9% in Lafayette parish. When I wrote about the foreclosure market in December, REOs represented 13% of sales in Acadiana and 8% in Lafayette […]

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Lafayette, LA Foreclosures Slowly Rising

Lafayette’s foreclosure listings have risen slightly in the past few months while the percentage of bank owned properties sold has remained pretty much the same. In April, I wrote that the percentage of active foreclosures on the market was 4.75% for Acadiana and 3.3% for Lafayette parish. It is now 6% for Acadiana and 4% for Lafayette parish (it is 4% also for the city of Lafayette).

REO listings in Lafayette, LA as of December 2011Since April, the percentage of bank owned properties sold has remained stable. In Acadiana it is down 1% (from 14% to 13%) and in Lafayette parish it is the same at 8%. These graphs were produced using sold information in our MLS for all listings and REOs between June 1st and December 4th 2011.

Sold bank owned properties in Lafayette, LA june-december 2011If we compare to the same period last year, the percentage of sold foreclosures is up 2% in both Acadiana and in Lafayette parish. Not a large increase, but an increase nevertheless.

Sold bank owned properties in Lafayette, LA 2010

The average price for sold foreclosures in Lafayette parish in the past 6 months was $122,770 with a median price of $108,500. Only 10 of the 90 sold REOs were above $200,000.
As for currently active REO properties in Lafayette parish, the average price is $109,252 with a median price of $105,000. Only 4 properties are listed for more than $200,000 and none above $220,000. The foreclosure market in Lafayette and Acadiana is certainly great for investors and first-time home buyers at this point.

One Response to Lafayette, LA Foreclosures Slowly Rising
  1. […] for 18.8% of residential sales in Acadiana and 11.9% in Lafayette parish. When I wrote about the foreclosure market in December, REOs represented 13% of sales in Acadiana and 8% in Lafayette […]

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Wanting to leave an <em>phasis on your comment?

Trackback URL http://www.lafayetterealestatenews.com/2011/12/04/lafayette-la-foreclosures/trackback/