Lafayette sales to date are also ahead of ’09 and a bit behind 2010. Average price is up for the second year in a row, up 6% over 2010 and hit nearly $376,000 in April. It’s down 3% from where it was 6 years ago. Days to contract are up a bit. Inventory is down once again after 4 previous years of decline. It’s on average down a third from levels 6 years ago. Months of inventory dropped to 5 in April: a seller’s market, at least for now. 5 to 6 months of inventory mark the dividing line between a buyer’s and a seller’s market. More than 5/6 months is a buyer’s market, less is a seller’s.
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