Home Sales Up in Acadiana, 2018 Possibly Biggest of All-Time
The economy in Acadiana has been sluggish at best the last two to three years, mainly due to the issues with the oil and gas sector.
However, a strong housing market in 2018 may be a sign that things are turning around.
The total number of home sales reported by the Realtor Association broke the 5,000 level for the first time, surpassing last year's record of 4,974.
The dollar amount of those sales was within $1 million of breaking the $970 million mark notched in 2015. (However, the final numbers are not in and the total could exceed this mark.)
In Lafayette Parish, the current average sale price is just under $223,000 while the median sale price stands at $194,000.
Comparing to last year, the average sale price has risen by $6,000, or 3%, while the median sale price has increased by $2,000, or 1%.
Bottom line, 2018 was a nice rebound year following the last two year declines.