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It's extremely hot outside, but our local real estate market is also experiencing some heat right now.
Today I'll go over some basic market statistics to give you a better idea of what's happening in the Louisville real estate market.
- There are currently 5,925 homes on the market, and we had over 7,000 homes listed for sale last year at this time
- Our current absorption rate is 4.67 months, and last year it was sitting just under 6 months
- The average sale price has increased, and it now sits at $205,000
- The average days on market is at 82 days, which is down from 88 days last year
- The number of houses sold in June was 1,868, which is a higher number than we saw last year
- Interest rates are at 4.5% right now, which is higher than it has been in the past, but these are still extremely affordable rates
I always like to finish with a quote, so here you go: “We deserve nor owed nothing. We only get what we desire to earn, leverage to negotiate, or power to take.”
If you have any questions about this information, please don’t hesitate to contact me. I’d be very happy to speak with you about the Louisville real estate market!
