Is Lafayette, LA 70501 a buyer’s or seller’s market?

The Lafayette housing market right now

In the three months ending August 31, 2026, 5% of homes in Lafayette, LA 70501 sold above their list price, the typical home went under contract in 101 days and there were 5.4 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 58 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 2%, homes sold more slowly (58 days then) and the median sale price fell 36% to $119,948. Overall, Lafayette is less competitive than a year ago, which gives buyers more room.

Within Lafayette Parish, homes here sell more slowly than in 89% of the county’s ZIP codes, and sell less often over asking than in 89%. On our competition score, Lafayette ranks #152 of 160 LA ZIP codes with enough sales (score 7 out of 100).

Nearby, Broussard 70518 (16% sold over asking) and Lafayette 70508 (11% sold over asking) are even more competitive.