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Hey everyone, thanks for checking out our blog. Today we are going to give you a Louisville market update, comparing the market statistics through May of 2015 with the numbers through May of 2014.
The market is still red hot right now. We are seeing improvements in the market nearly across the board. Here are the latest numbers, through May 2015, which we are going to compare to the numbers we saw this time last year:
One final thing to note is that interest rates are still incredibly low, but have jumped a little above 4%. If you've been looking to purchase a home with an affordable rate, your window may be closing.
If you have any question for us, feel free to give us a call or send us an email. We look forward to speaking with you!
The market is still red hot right now. We are seeing improvements in the market nearly across the board. Here are the latest numbers, through May 2015, which we are going to compare to the numbers we saw this time last year:
- We had 5,700 homes on the market, which is down considerably from the 6,800 we had in May 2014.
- The absorption rate is down a full point in the last year, and has dropped from 5.58 to 4.54.
- The average sale price in Louisville is way up from the $179,000 we saw last year, and currently sits at $198,000.
- The average days on market are down as well, dropping by 5 days in the past year.
- The number of homes sold was up from May 2014. Last year, we sold 1,400 homes, and this year we sold 1,500.
One final thing to note is that interest rates are still incredibly low, but have jumped a little above 4%. If you've been looking to purchase a home with an affordable rate, your window may be closing.
If you have any question for us, feel free to give us a call or send us an email. We look forward to speaking with you!
