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Acadiana Housing Market Update
The housing market in Acadiana for 2016 was record breaking in many ways. The flood left a wake of devastation some even call a 1,000 year event. We lost inventory and some lost everything. We picked up the pieces as a community as we always do and have begun to make things beautiful again. Construction continues both commercially and residentially and there are plenty of opportunities that appear daily.
For 2016 the cumulative home sale dollar volume was down 7.6% from the previous 2015 but that year in it of itself was the 4th year in a row that beat it's previous year's high! This means that even with the flood we had a phenomenal year in the market for most. New construction took a bit of a hit down 16% from the previous year but has been picking back up the last few months. We've even seen some increased activity in the $300k+ range since the election.
If you were thinking of buying or selling and have been concerned about the state of the market, prices are on the rise as well as interest rates. It would be very tough to find a loan under 4% when 3.5% was the normal last year and as a seller you can get more now than you could at the beginning of the year. The biggest determining factor in your home sitting or selling is the realtor you choose. Not all realtors are built the same or have access to the same knowledge, tools & resources. Realtors are small business owners and the better business they run the better your service and results are. This goes for buying as well. Utilization of resources efficiently, work ethic and negotiation skills are not equally distributed amongst the 1,500 realtors in Acadiana. Yes, it is free to use an agent on the buying side, but choose wisely.
*Based on information from the REALTOR Association of Acadiana for the period
We, at the Hub City Property Group of RE/MAX Acadiana pride ourselves on 5 star service no matter what your real estate goals are.
Contact us today for a market evaluation for selling your home or for more information about what neighborhoods could bring you the greatest short term and long term appreciation on your purchase. Hub City Property Group - Your Key to Acadiana!
337-706-4445 or [email protected] See available properties at www.hubcityproperty.com
Licensed in Louisiana with RE/MAX Acadiana Broker #27766 114 Curran Lane Lafayette, La 337-984-8470
My name is Kiwi Bautista, a realtor with Dream Home Realty and Owner/Operator of HubCityProperty.com Call me today at 337-706-4445 if you are looking to buy, sell or invest in real estate. In a s....