May 26, 2017

April 2008 Louisville Home sales off 31 % from a year ago, but the news is not all bad.

New numbers from MetroSearch,Inc., the data collecting arm of the Greater Louisville Association of Realtors “GLAR” shows Louisville home sales down for the second month in a row. In April of 2007, 1332 homes sold in the metro Louisville area, one year later that number was down 31% to 921 homes. March 2008 numbers only showed home sales off 20% from March 2007. The Number of days a home sat on the market also lengthened  from 85 days in April of 2007 to 90 days in April 2008.

Making it even tougher to sell a home, the number of homes on the market in the Louisville area was up 26% from 7684 in April 2007 to 10448 in April 2008.

The good news is that the average list price of a home was up $2000.00 but even more impressive was the fact that the average sales price was up $3,700.00.

So what’s the problem? Consumer confidence along with buyers thinking prices are still going to fall. But if the last set of numbers is any indication, waiting to buy a home may only cost you money. The average cost of buying a home rose 2.2% in April from a year ago.

If you’re planning to sell a home your house condition will need to be in the top 1/3 of all homes on the market. For tips and tricks to selling a home in this market, call the Medley Sokoler team at (502) 992-4137.

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