LAFAYETTE — Brisk homes sales in October have set the stage for what is shaping up to be another record-breaking year for real estate in Lafayette Parish, according a market analysis for the first 10 months of 2014.
Homes sales in Lafayette Parish from January through September 2014 had lagged just behind 2013, which was a record year for the local real estate market.
But a strong October lifted 2014 sales to about 1 percent above the 2013 numbers, 2,779 sales in 2014 compared with 2,741 in 2013, according to the analysis by Van Eaton & Romero Chief Executive Officer Bill Bacqué.
“We were just a tad behind. Now, we are a tad ahead,” Bacqué said.
The market this year has been driven by new construction.
Sales of existing homes are down about 3 percent from last year, but that dip is offset by sales of new homes, which are up 12 percent over 2013, according to Bacqué’s analysis.
“There is no question that new construction has been the darling child of real estate in Lafayette Parish,” Bacqué said.
While sales in Lafayette Parish are just barely outpacing last year’s record numbers, the first 10 months of 2014 are 24 percent above 2012 numbers and 54 percent over 2011.
Bacqué said he is cautiously optimistic about the prospects for another record year.
“If we can just keep pace with where we were last year for the last two months, then we can eke out another record year,” he said.
Bacqué’s market analysis is based on numbers from the Realtor Association of Acadiana.