October 17, 2017

Louisville Home Sales hold steady!

Weather played a key roll in slowing home sales in February. Yet despite snow, ice and freezing temperatures, 7% more Louisville homes went under contract during February 2011 than the year before. Sure it’s not a big increase, but hopefully it’s a sign of good things to come.

Remember last year at this time we had the 1st time home buyers $8000 tax credit and the $6500 move up buyer credit. Additionally during the month of February 2011 interest rates inched upwards for several weeks reaching the 5.25% mark.

So the increase actually in homes going under contract last month says a lot more about pent up buyer demand and bottoming out home prices.

The number of homes actually closing was down 5% from February 2010. The median sales price was up $1100, while the average sales price dropped about $5,500. For your information, the median sales price is the price that lies in the middle of the list of prices of homes sold, ranked in order of amount (lowest to highest or vice versa). In other words, half the homes in your area sold for more, half sold for less.

I will tell you our phones at the Medley Sokoler Team are very busy with perspective Louisville real estate buyers.  We’re seeing more calls earlier in the buying season. So if the weather holds off and interest rates stay below 5% and gas prices don’t shoot further thru the roof (I know a lot of if’s here) we may see a housing recovery this year!

Feb 2011

Number of Houses Under Contract

This month: 1027

Last month: 895

This month last year: 0

Number of Houses Sold & Closed

This month: 614

Last month: 657

This month last year: 0

Average Selling Price

This month: $153,612

Last month: $154,236

This month last year: $0

Average Days on Market

This month: 85

Last month: 93

This month last year: 0

Median Sales Price

131,450

Feb 2010

Number of Houses Under Contract

This month: 958

Last month: 770

This month last year: 0

Number of Houses Sold & Closed

This month: 645

Last month: 700

This month last year: 0

Average Selling Price

This month: $159,105

Last month: $156,021

This month last year: $0

Average Days on Market

This month: 85

Last month: 81

This month last year: 0

Median Sales Price

130,350

Bob Sokoler is a former Anchor/Reporter turned Louisville Realtor 7 years ago in Louisville Kentucky. You can learn more about Bob, his Team and Louisville Real Estate at www.weselllouisville.com

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  3. Could Louisville Homes Sales be on the Increase? By Bob Sokoler, www.weselllouisville.com
  4. Louisville Home Sales…Up for May! By Bob Sokoler – The Medley Sokoler Team – www.WeSellLouisville.com
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