July 24, 2017

October lives up to expectations! Now’s the time to buy!!!

First the good news:

Now is the time to buy.  If you are considering purchasing a home get off the fence and jump in. Interest rates drooped last week below 6%. Home owners who have to sell are accepting deals lower than anyone could imagine.   Call or e-mail us 24/7 and we’ll send you an updated list of homes on the market.

The bad news is for current homeowners who need to sell:

The month of October has notoriously been a slow month for real estate sales, this year October was worse than expected. According to the Greater Louisville Association of Realtors, the number of homes that sold and closed was down 35% from a year ago.  The number of homes going under contract was down 28% from October 2007. Days on the market increased 5% from October 2007.  (see the numbers below).

Thanks to Foreclosures and Short Sales the value of homes in some areas of town dropped dramatically.   The Median Sales price was down 8% from October 2007 and the Average sales price down 11.5%. There is some positive news, the number of Foreclosures and Short Sales (selling in “as is” condition) in October dropped 24% from 239 homes in October 2007 to 182 home sales last month. It’s too early to determine if the drop in sales means anything more than the obvious slow down in home sales.  

Hope is around the corner, 2009 is just a month away and the spring home buying market starts in February!

[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.]

 

November  2008

 


Number of Houses Under Contract

This month: 724

Last month: 778

This month last year: 0


Number of Houses Sold & Closed

This month: 663

Last month: 959

This month last year: 0

 


Average Selling Price

This month: $156,091

Last month: $152,116

This month last year: $0


Average Days on Market

This month: 83

Last month: 76

This month last year: 0


Median Sales Price

124,500

 

November  2007

   

 


Number of Houses Under Contract

This month: 1015

Last month: 1115

This month last year: 0


Number of Houses Sold & Closed

This month: 1021

Last month: 1137

This month last year: 0

 


Average Selling Price

This month: $176,855

Last month: $173,995

This month last year: $0


Average Days on Market

This month: 79

Last month: 73

This month last year: 0


Median Sales Price

135,500

 For more info head to www.weselllouisville.com

 

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