Leslie Turk

Local real estate market drops 13%

by Leslie Turk

The Advocate reported this weekend that the Acadiana real estate market has dipped for the first time in three years, marking an end to the jump that had continued since the 2005 hurricanes. Home sales in Lafayette Parish and the surrounding areas from January to October are down 13 percent over the same period in 2007. In Lafayette Parish alone, the drop was 15 percent.

The median home price in Acadiana is down 4 percent, but prices in Lafayette Parish have held thus far, falling only 1 percent during that time. Read The Advocate story here.