May 23, 2017

Home sales have slowed down yet again.

Louisville Home Sales

The Numbers

The new July numbers for Home Sales in Louisville are out and as we suspected sales have slowed. In July 2010, 999 homes closed compared to 1276 July 2009, down about 22%.

Louisville Homes going under contract have also slowed in July 2009, 1119 went under contract, that compares to 1284 in 2009, that’s down about 13 %.

 

Why

Several factors are slowing Home sales in Louisville and the rest of the country.

1)    The tax credits are gone and buyers who were going t buy this summer sped up their timetable to take advantage of the $8000 1st time home buyer or $6500 move up buyer tax credit.

2)    Buyers are hoping another tax credit may be coming from the government (we have heard nothing about that).

3)    Buyers are concerned about the economy and about their jobs. Many buyers are afraid their jobs may disappear in 6-9 months so their afraid to purchase a home.

4)    Buyers have: had a short sale, foreclosure or just have bad credit and because banks are requiring good credit to get a loan a purchase is out of the question.  

5)    Buyers have homes that they can’t sell so they have to rent if they’ve moved here from another state.

Looking ahead

We’ve received a number of calls and e-mails from potential renters and other agents look for a place to rent. So many requests that we’re creating a rental manage arm of our business.

We’re also getting call from investors looking for a good purchase. As a result we’re creating an investment arm of our team.

 

We feel the market has bottomed out, but it make take 3 or more years before the price of Louisville Homes return to the pre 2008 prices

July 2010

 


Number of Houses Under Contract

This month: 1119

Last month: 1118

This month last year: 0


Number of Houses Sold & Closed

This month: 999

Last month: 1477

This month last year: 0

 


Average Selling Price

This month: $176,838

Last month: $170,037

This month last year: $0


Average Days on Market

This month: 79

Last month: 76

This month last year: 0


Median Sales Price

145,000

 

July 2009


Number of Houses Under Contract

This month: 1284

Last month: 1331

This month last year: 0


Number of Houses Sold & Closed

This month: 1276

Last month: 1174

This month last year: 0

 


Average Selling Price

This month: $171,793

Last month: $166,022

This month last year: $0


Average Days on Market

This month: 89

Last month: 84

This month last year: 0


Median Sales Price

140,000

We really hope you enjoy reading these blogs as much as I enjoy writing them! If you have any questions about Louisville Real Estate as a buyer or a seller please e-mail me directly at bob@bobsokoler.com , call me (502) 376-5483 or visit our websites www.weselllouisville.com or www.louisvillehomestoday.com

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  3. Where are the Louisville Home Buyers?, By Bob Sokoler, www.WeSellLouisville.com
  4. 9610 KEELING RIDGE RD, By Bob Sokoler, www.weselllouisville.com
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