1518 Common St in Lake Charles is Under Contract: Real Estate Recovery is Alive and Well in Lake Charles, LA

1518 Common St is UNDER CONTRACT in Lake Charles, LA

We all like good news and good news is always a boost to our business!  With so many conflicting reports from national real estate markets and economy ups and downs, Lake Charles consumers can get the wrong picture.

Lake Charles, LA real estate is healthy and stable.  We are noticing it is taking homes a bit longer to sell due to the high inventory in Calcasieu Parish. Typically the average days on the market for a Lake Charles Home is 120 days before the home goes under contract. 

 UNDERSTANDING A BUYER'S MARKET

Currently, The Lake Charles real estate market is experiencing a “Buyer’s Market” which means there is a high inventory of homes for sale in Southwest Louisiana. Understanding how inventory of homes for sale affects the real estate market is key when purchasing or selling real estate in Southwest Louisiana.

 What determines a Buyer’s market? Most economists state that if you have under four months of remaining inventory, then you’re in a sellers’ market. Five to seven months of inventory is a neutral market and seven to 12 months is a buyers’ market. Over 12 months of inventory and you’re in a poor market.  Lake Charles Home Buyers have a large selection of homes to choose from. 

Those looking to rent in Lake Charles do not have many options and Lake Charles Apartment complexes fill oup quickly.  Lake Charles residents who have been renting for any length of time are seeing the benefit of becoming a first time home owner.  Many renters are choosing to purchase and take advantage of the low interest rates.

1518 Common St. in Lake Charles  is a 2 bedroom 2 bathroom remodeled cottage located in Central Lake Charles.  1518 Common has been listed for 63 days and has just gone Under Contract with a lease/purchase.

A high selection of inventory of Lake Charles Homes for Sale combined with low interest rates available offer Lake Charles home buyers with many options.

You can  easily search all available homes for sale in Lake Charles and Southwest Louisiana by accessing the Lake Charles Real Estate and Homes for Sale website.