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Homes sold in Acadiana outside of Lafayette Parish made up 39% of all homes sold. That's up from 33.6% last year. 

The average sale price of a home in Acadiana jumped nearly $50,000 last month compared to last year, data shows.

The surging real estate market locally and in most major markets across the country due to plummeting interest rates has led to more purchasing power for buyers, said Bill Bacque with Market Scope Consulting.

The 535 homes sold in October sold at an average price of $236,264, a 24% bump from the $190,679 average price of homes sold in October 2019.

The biggest jump has come from outside Lafayette Parish: the 165 homes sold in October sold for an average price of $192,861, up from the 211 homes that sold for an average of $144,513 from a year ago.

The dollar amount in homes sold in the region last month topped $126 million, which topped the previous highest total for October by over $25 million, Bacque noted. It also pushed the region over the $1 billion mark for the year, the third straight year to reach that mark but the first time to do it in November.

The number of homes sold in the region was still a record for the month but the lowest since the market started to heat up in June.

The number of homes outside Lafayette Parish in October dropped to 165 last month after 211 were sold a year ago as sales have slowed. Of the five adjacent parishes, only Vermilion is outpacing last year’s total number of home sales.

In Lafayette Parish there were 370 homes sold, the lowest total since June but well above the 319 sold last year.

“It’s not unusual to see reported sales ebb in the fall months,” Bacque wrote. “So having the total Acadiana home sales decline from September to October by 13% wasn’t too much of a surprise.”

New construction continues to have a solid year in Lafayette Parish with 92 home starts in October, up from 64 a year ago and 778 for the year, up 30% from last year’s pace.

Pending sales, however, did not take a similar dip from the previous month in the region and increased in Lafayette Parish. The 411 pendings in Lafayette Parish were the highest since July and well above the 262 reported a year ago.

Pendings in the region dipped to 596 from 601 in September but remain ahead of the 433 reported a year ago.

New listings in the region dropped to 543 in September, the lowest total reported this year. New listings in Lafayette Parish dropped to 362 after 383 in September and as many as 479 in July.

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Email Adam Daigle at adaigle@theadvocate.com.