Our Louisville market is hot right now, and here are the latest statistics to show how far we’ve come since July of last year.
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Right now, our market is as hot as the weather. It continues to amaze me, and I don’t think I’ve ever seen it quite like this. How has the market changed since last July? Let’s go over a few statistics.
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Our market is as hot as the weather.
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From July 2016 to July 2017:
- The number of active houses decreased from 5,218 to 4,430. This lack of inventory is driving a lot of the demand out there.
- The absorption rate decreased from 3.63 months to 2.93 months.
- The average sale price increased from $213,000 to $220,000.
- The average days on market decreased from 64 days to 47 days.
- The number of homes sold decreased slightly from 1,690 to 1,650.
- Interest rates stayed about the same at roughly 4%.
If you have any questions about these latest numbers, the current state of our Louisville market, or any other real estate topic, don’t hesitate to give us a call. We’d be happy to help you.
Quote of the month: “If you’re not shorthanded, you’re overstaffed.” - Sam Walton
