The market still favors sellers, but buyers should pay close attention to the gap between asking prices and closed prices.
If you are wondering whether current asking prices reflect what homes are actually closing for, the answer is not always. My read is that Lafayette, IN still gives sellers an edge, but buyers need to compare each listing to recent closings carefully because the typical asking price and the typical sold price were far apart over the previous 30 days.
Recent numbers in Lafayette, IN show a typical asking price of $384,900 for active homes, while the typical closed price came in at $269,200. At the same time, offers averaged 99.7% of asking and supply stood at 1.39 months, so I see a market where pricing confidence is high but not every list price should be accepted at face value.
For buyers, that creates a very specific kind of risk. A market can be competitive and still contain homes that are simply starting too high. I would not assume the newest list price is the right value just because the broader market favors sellers. The better move is to separate homes that are priced to attract quick action from homes that may be testing the market.
Compare every target home against recent closed positioning before you write. Be ready to act fast on the well-priced options because a typical sale moved in 12 days last month. Skip emotional overreactions to ambitious asking prices. Focus on fit, evidence, and terms you can defend.
