Home sales in Acadiana this year will likely eclipse the record-breaking year of 2018, real estate analyst Bill Bacque said.
Sales in the five-parish region in November were slightly higher than the total from November 2018, and sales in both the region and inside Lafayette Parish, La., remain ahead of last year’s pace.
Already at 5,162 home sold, the region should eclipse the 5,268 homes sold last year, Bacque’s data shows.”It hasn’t been a straight line upward this year and not all facets of our housing market have performed well, i.e., new construction sales, but in the end it appears that 2019 will close with the title of being the best ever,” he wrote.
In Lafayette Parish, while the 250 homes sold in November fell just short of the 252 sold in November 2018, the parish’s 3,145 homes sold this year remains ahead of last year’s 3,132 sold through November. Another 232 would need to be sold to top last year’s mark of 3,376, also an all-time high.
That would “doable but not inevitable,” Bacque wrote.
Based on pending sales in November, that mark would be in reach. Lafayette Parish reported 298 pending sales in November, up from 245 a year ago. Pending sales for the year are at 3,385, which is also above the 3,178 sold by November 2018.
The region also topped the $1 billion mark in dollar volume with a month remaining at $1,001,227,076. Last year the market topped the $1 billion mark for the first time in the final month of the year and finished at $1,005,297,503.
In Lafayette Parish, dollar volume through November is at $698.5 million, well within reach of the $754.5 million from last year that also set a record.
In neighboring parishes, homes sales for the year is up 23.8% in Iberia, 13.6% in Acadia, 12% in St. Landry and 5% in St. Martin. Iberia Parish leads the way with 463 homes sold for the year.
Tribune Content Agency