By DENISE RANGAI, REALTOR®, Contributing Writer
Market Overview
The real estate market remains robust as of July 2024, with a solid number of homes being sold and put under contract. Despite a high cost of living, the market in Youngsville and Broussard is showing resilience.
Key Metrics
- Youngsville: The average price of sold homes stands at $272,670.
- Broussard: The average price of sold homes is $309,560.
Market Trends
- Days on Market: There is a noticeable trend of increased days on market. Homes are
taking longer to sell compared to previous months, reflecting a slight slowdown in sales
pace. - Interest Rates: Recent decreases in interest rates from the Federal Reserve are having a
positive impact. Potential buyers are beginning to reengage, with more individuals
reaching out to lenders to explore home buying options. - Cost of Living: Despite the high cost of living, which has contributed to some market
cooling, the local area remains competitive and continues to perform well compared to
national averages.
Regional Performance
Both Youngsville and Broussard are trending positively when compared to national real estate metrics. The local market is holding strong, benefiting from the recent shifts in interest rates and continued interest from buyers.
Summary
In summary, while the real estate market in Youngsville and Broussard is facing a few
challenges, particularly with increased days on market, it remains resilient. The recent dip in interest rates in August is likely to stimulate activity. Overall the area is outperforming many other regions nationally.
For more information or to schedule a free home value assessment, contact Denise Rangai at (985) 991-1344 or deniseondabayou@gmail.com.
