July 24, 2017

Louisville’s Home Sales Market out performs much of the nation!

If you’ve followed home sales reports around the nation you know the housing recovery is see-saw at best. But the new Louisville numbers for May 2011 of homes going under contract show some encouraging signs. We’re up 6% over May 2010 and that’s quite an accomplishment!

Remember in April 2010 we had just completed the first time buyer $8,000 and move up buyer rebates. So you could make the argument that May 2010 was a bad month for home sales because anyone in the market to buy a home would have made the purchase by April 2010. But that doesn’t account for the dismal home sales around the country in May 2011 compared to Louisville seeing a 6% jump in homes going under contract.

Additionally there’s more good news to report. The average sale price from May 2010 to May 2011 has gone up $3,1079. On the down side, the average days on market has gone up from 81 days last year to 93 days this year. That is a direct result of the number of homes on the market and fewer buyers out there.

Still the signs are strong that at least the Louisville market is showing signs of a housing recovery. Combined with some of the lowest interest rates we’ve seen this year (they were hovering at 4.65 on Monday), this is the time to buy for anyone sitting on the fence waiting to see if housing prices will drop any further.

If our Louisville trend holds steady, waiting to buy a house may cost more money in 2012 and interest rates will most likely not go down. Our office phones have been busy with people looking for homes and deals and they are there.  We’ve added 3 new agents to help with the e-mails and visits to our web sites.

May 2011

Number of Houses Under Contract

This month: 1284

Last month: 1222

This month last year: 0

Number of Houses Sold & Closed

This month: 987

Last month: 921

This month last year: 0

Average Selling Price

This month: $163,788

Last month: $155,243

This month last year: $0

Average Days on Market

This month: 93

Last month: 85

This month last year: 0

Median Sales Price

132,500

May 2010

Number of Houses Under Contract

This month: 1204

Last month: 2109

This month last year: 0

Number of Houses Sold & Closed

This month: 1345

Last month: 1108

This month last year: 0

Average Selling Price

This month: $160,609

Last month: $160,442

This month last year: $0

Average Days on Market

This month: 81

Last month: 88

This month last year: 0

Median Sales Price

138,000

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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Related posts:

  1. Louisville home sales for Januarry 2011
  2. Louisville Home Sales – May 2011 – By Bob Sokoler – www.weselllouisville.com
  3. Louisville Home Sales slip again but there is some good news. By Bob Sokoler, www.weselllouisville.com
  4. Louisville Home Sales hold steady!
  5. Louisville Home Sales…Up for May! By Bob Sokoler – The Medley Sokoler Team – www.WeSellLouisville.com

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