Where is the city of Lafayette Colorado?
The City of Lafayette is a beautiful and growing town. Centrally located 20 minutes from Boulder, Longmont and Interlocken; 30 minutes from Denver; 40 minutes from DIA, and 10 minutes to I-25. In other words – it is centrally located as a bedroom community.
What’s going on with Lafayette real estate?
In 2017, the number of homes for sale on the market (residential and attached) saw healthy growth! The national yearly average sees an increase of 3% a year for available homes on the market, and Lafayette was 8.9%. But lately (2018), the inventory of available homes under $600,000 in Lafayette has plummeted.
Why? national factors such as the return of Boomerang buyers – those forced out during the Great Recession and now able to buy once more — as well as a general lack of new construction are two factors impacting the local market.
Can i get a beer with that?
One thing that makes homes in Lafayette so unique is the breweries, and new home and business construction. Whereas Boulder, Louisville, and Superior have been built out, no longer allowing for new construction. This means home prices increase at a much faster pace and value per square foot goes down.
The new construction in the area has opened up a great opportunity to invest in a beautiful home for a reasonable price, as well as new business and job opportunities in the nearby area.
Prospects growth for the coming years can benefit you whether you see a real estate purchase in Lafayette as an investment, or a home for yourself and your family.
The average listing price for homes in Lafayette at the tail end of 2017 was most recently reported at $495k, yet that is almost $200k less than the average LOW listing price in Boulder- making the city of Lafayette a growing, reasonable, and sustainable place to live. The new construction allows the value of price to square foot in your home to be higher than that of surrounding areas.
Moreover, this chart shows that the city of Lafayette is outperforming the state according to MLS records, and has been for the last 10 years. As Lafayette will continue to grow in popularity, it is a place valuable of your investment now!