The median home in Lafayette Parish listed for $297,000 in May, up 1.1% from the previous month’s $293,750, an analysis of data from Realtor.com shows.

Compared to May 2023, the median home list price decreased 10.6% from $332,500.

The statistics in this article only pertain to houses listed for sale in Lafayette Parish, not houses that were sold. Information on your local housing market, along with other useful community data, is available at data.theadvertiser.com.

Lafayette Parish’s median home was 1,866 square feet, listed at $166 per square foot. The price per square foot of homes for sale is down 7.4% from May 2023.

Listings in Lafayette Parish moved slowly, at a median 59 days listed compared to the May national median of 44 days on the market. In the previous month, homes had a median of 57 days on the market. Around 358 homes were newly listed on the market in May, a 15.5% increase from 310 new listings in May 2023.

The median home prices issued by Realtor.com may exclude many, or even most, of a market’s homes. The price and volume represent only single-family homes, condominiums or townhomes. They include existing homes, but exclude most new construction as well as pending and contingent sales.

Across the Lafayette metro area, median home prices rose to $260,875, slightly higher than a month earlier. The median home had 1,855 square feet, at a list price of $147 per square foot.

In Louisiana, median home prices were $285,000, a slight increase from April. The median Louisiana home listed for sale had 1,872 square feet, with a price of $154 per square foot.

Throughout the United States, the median home price was $442,450, a slight increase from the month prior. The median American home for sale was listed at 1,859 square feet, with a price of $233 per square foot.

The median home list price used in this report represents the midway point of all the houses or units listed over the given period of time. Experts say the median offers a more accurate view of what’s happening in a market than the average list price, which would mean taking the sum of all listing prices then dividing by the number of homes sold. The average can be skewed by one particularly low or high price.

The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from Realtor.com. Please leave any feedback or corrections for this story here. This story was written by Ozge Terzioglu.

This article originally appeared on Lafayette Daily Advertiser: Lafayette Parish home listings asked for more money in May – see the current median price here