It is prudent to know how real estate is doing in certain areas that you may be interested in owning or selling real estate. For Lake Charles, Louisiana, real estate statistics as of March 2019 are the latest that are recorded.
The following is some information that may be pertinent to those in the market to buy or sell.
Lake Charles Real Estate
Lake Charles is in southwest Louisiana. There are2,095 properties for sale in this quadrant. This is down 1.5%.
There are 375 properties on the market. This figure has gone up 15.7%.
Additionally, the average asking price per square feet is $94. This is a $9 increase.
These figures suggest that people are snapping up homes, and as a reaction, people are putting more listings on the market. They also feel more comfortable asking for more for their properties because they are in demand.
Lake Charles Homes
Homes are generally going down in price in this area. They are selling for$183,756 on average.
This is almost $10,000 less than usual. Looking at the above figures, this probably means that because the market has suddenly been flooded with listings, people have a lot of choice.
This in turn drives the market price of the homes down, even though people believe they can ask for higher prices. The sale price is only averaging $89 per square foot.
Listing Your Home In Lake Charles
When people list their homes in Lake Charles, they can expect to wait around half of a year for the sale. On realtor.com, there are 481 homes in the city that have recently sold.
None of these homes sold for over $200,000. Also, there were no one bedrooms that sold or four bedrooms. There were eight condos or townhouses that sold. None of these properties were farms or ranches.
Houses in Lake Charles are more expensive than surrounding areas. The median price per square foot is $103. For those renting, the median rent is $1500 per month. There are currently 1436 active listings in this city. This trend to list has gone up.
Summary: Lake Charles Louisiana Real Estate Statistic March 2019
All in all, the real estate market in Lake Charles is bright. People who are selling more expensive homes might have the most difficult time.
However, that does not mean there are not people looking for pricier dwellings. Those renting in the area can expect to set aside a fair chunk of income.
All in all real estate in Lake Charles is doing better than the surrounding cities.