Your June 2019 Market Comparison

Today on “JP Pirtle TV,” we’ll compare the market from June 2019 to that of June 2018.

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Before I begin today’s topic, I want to make an announcement: We are now opening a brand-new office out in Mount Washington on Highway 44. We’re very excited about expanding our business and being able to serve more people in Bullitt, Odom, Nelson, Larue, Marion, and Hardin. Thank you all for your referrals and your business that has allowed us this growth.

Now, back to our topic: How does the market from June 2019 compare to that of June 2018? Let’s take a look.

• In 2019, we sold about 1,730 homes, whereas in 2018, we sold 1,751.
• The average sales price in June this year was $245,000, compared to the average of $234,000 in June 2018.
• The average days on market this year was 50 days, whereas it was 53 days last year.
• The absorption rate for this June was 2.76 months, and in June 2018, it was 2.7 months.
• This year, there were 4,074 active listings, which is a step down from last year’s 4,116 active listings.
• Our interest rates are currently hovering around 4%, which is a reduction from last year’s 4.5% rates. (These interest rates are compliments of Statewide Mortgage, a great company for all your refinancing needs)

If you have any questions about the numbers from our market or what they mean for your real estate goals, feel free to reach out to me. I’d love to hear from you!

As a final note, I’ll leave you with my quote of the month from Big Willie: “Your attitude will always determine your altitude.”

The 2 Options We Offer Our Sellers

Our team doesn’t just help sellers list on the open market. We also buy homes outright.

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Whenever our team works with a seller, we always give them two options: They can either put their property on the market, or we can purchase it from them outright for cash. We recently worked with a seller who chose the latter, and they couldn’t have been happier with the results. In fact, we were able to offer more money than they were probably expecting. We can offer you this same convenient experience, too. Or, of course, we can always help you list on the open market, as well. If you’d like to learn more or if you have any other questions, feel free to give us a call or send us an email. We look forward to hearing from you soon.

It’s a Great Time to Be a Seller

Today I’d like to tell you a story that demonstrates how excellent of a time it is to be a seller in our market.

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We’re coming to you today from a great home here on Duker Street. This property has an awesome story behind it that we’d like to share with you today.

The owner of the property was a really nice lady who once gave us a call because she needed help: She didn’t know if she wanted to list the house on the market or sell it outright. Of course, the Dream J.P. Pirtle Realtors team always offers our sellers both options.

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Right now is a great time to sell your home.

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In the end, she didn’t want to list the home, so we ended up buying it from her. We were actually able to give her a lot more for it than she had even asked for in the first place, which made her very happy. This Duker Street home is in a great area right across from a school, and (even in the video above) you can even hear how happy the children here are. We may decide to rent it out, but that decision isn’t final. If you’d like to learn more about it, feel free to contact us!

The moral of this story is that right now is a great time to sell your home—our spring inventory is very low, which means your home is in high demand, and interest rates are still historically low as well, meaning you’ll probably get more money for your home this year than you would have in any of the previous 10 years. The market is hot.

If you need advice about selling your home or would like us to do a no-obligation, free comparative market analysis to help you find out what your home would be worth, reach out to us. We can either help you list your home on the market or make you an offer for it ourselves. I hope to hear from you soon!

An Update on the Louisville Real Estate Market

As we head into the summer, I wanted to bring you a quick update on the Louisville real estate market. Here’s what you need to know.

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Selling your Louisville home? Get a free Home Value Report

As we head into the summer, I wanted to bring you some of the latest numbers from the Louisville real estate market in April and compare them to what we saw at this time last year.

Here are some of the statistics I’ve been keeping my eye on:

• Home sales are down from 1,583 to 1,442
• Our average sale price is up to $223,000 from $220,000
• The average days on market stayed relatively flat, going up slightly to 64 from 62
• The absorption rate sits at 2.48 months, which is up from the 2.33 months we saw last year
• Active listings are low, but they’re slowly creeping up. They sit at 3,687 currently, which is up from 3,554 last year
• The average interest rate for a 30-year mortgage has dropped back below 5% and now sits at 4.5%

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     Interest rates have dropped back below 5% to 4.5%.

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Thanks to my great friends at Statewide Mortgage for providing me with the interest rate update.

Last but not least, it’s time for our monthly quote. This month’s quote is:

“If we ever forget that we are one nation under God, then we will be a nation gone under.” -Ronald Reagan.

If you have any questions for me in the meantime or need any real estate help at all, don’t hesitate to reach out and give me a call or send me an email. I look forward to hearing from you.

Your Latest Louisville Market Update Is Here

The latest news from our Louisville area market is here, so let’s review some of the most significant ways things have changed since last year.

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The weather is getting warm out there, and our real estate market is heating up, too. To demonstrate this, let’s review some year-over-year statistics from March of 2018 versus March of 2019.

In March of 2018, 1,429 homes sold in our local market. This March, that number dropped down to 1,361. This may not be a significant change, but it does reflect some of the other developments we’ve observed—namely, the increases in inventory and average sales price.

Inventory rose over this same 12-month period from 2.3 months’ worth of supply to about 2.45 months’ worth, leaving us with 3,500 active listings in March 2018 and 3,600 in March of this year. The average sales price, meanwhile, rose from $208,035 to $217,619.

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     There are plenty of opportunities in our Louisville market right now, regardless of your real estate goals.

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Likely as a result of these changes, the average number of days that listings spent on the market in March also changed, going from 67 in 2018 to 75 in 2019.

Last but not least is the matter of interest rates. Last March, the average interest rate for a 30-year fixed mortgage in our area was 4.4%. Interestingly enough, the average interest rate this March actually decreased, sitting at 4.33%. This is great news for anyone looking to buy, and our still-low inventory levels indicate favorable conditions for sellers, too.

In short, our current market conditions are prime for buyers and sellers alike. There are plenty of opportunities in our Louisville market, regardless of your real estate goals.

If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.

Getting the Most Out of the Sale of Your Home

These seven seller tips are sure to make your home sale go off without a hitch.

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Selling your Louisville home? Get a free Home Value Report

To sell your home for the highest possible price and in no time, your selling strategy should be comprised of these seven tips:

1. Clean the home top to bottom. Your home should sparkle to the point that eating off the floor doesn’t seem like a bit of a stretch. Buyers will take notice of a home that is spic and span, is freshly painted, and has carpet that looks good as new. "This is sure to earn you a great ROI."

2. Get rid of clutter and personal items. The more clutter that’s strewn about your home, the worse your chances of selling for top dollar are. Removing personal items and clutter will give buyers an unobstructed view of what the future could look like for them and their family in the home. It’ll be hard for them to do that if your family photographs are hanging on the walls.   

3. Remove large furniture. Big, bulky furniture shrinks your home—at least that’s the way it’ll be perceived. To showcase as much of your home’s square footage as possible, think about relocating bigger items to storage in the meantime. Additionally, the furniture that you leave in the home should look new and fresh, so think about removing dated or ratty-looking furniture as well.

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     Buyers will take notice of a home that’s spic and span, is freshly painted, and has carpet that looks good as new, and this is sure to earn you a great ROI.

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4. Hire a professional real estate team. And yes, I mean “team.” Did you know the average agent in our area sells five homes or less each year? For our part, my team sells 400-plus homes year in and year out. Simply put, it’ll be of great benefit to you to work with a team that has a proven, repeatable system to sell homes. If you needed surgery on your back, would you hire a surgeon that does upward of 20 procedures of this kind per month, or the surgeon that does less than five a month? The answer seems obvious because it is.   

5. Find a team that can create demand and has a great marketing plan. We spend $300,000 marketing our clients’ homes on a yearly basis, and with us, your home will appear on a TV advertisement two to three times every weekend until it’s sold! Through our digital marketing plan, you can count on us for professional photography and to maximize your home’s exposure on various social media platforms. 

6. Find a team that has a trade program. Many move-up buyers have a home they need to sell, and if one of these buyers makes a winning offer on your home, we can buy their property for cash. 

7. Price your home to sell. Your agent’s responsibility isn’t to tell you what you want to hear with regard to your home’s value, it’s to be forthright about what price you should set it at so that you’ll earn top dollar on your home sale. 

If you plan to buy or sell a home soon or for any advice related to real estate, feel free to give us a call at 502-458-2722. We’d be happy to come out and give you a free market analysis, and we look forward to speaking with you!

Your Latest 2019 Real Estate Market Comparison

Our market is looking great, and we have the numbers to prove it. Here’s what they say.

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Selling your Louisville home? Get a free Home Value Report

The latest numbers are in for February’s real estate market, so today we’ll be comparing our 2019 stats with those of 2018. Things are looking good, but let’s put a magnifying glass on the metrics:

• There were 1,166 homes sold in February 2018 and 1,055 sold in February 2019.
• The average sales price was $204,500 in February 2018 and $216,500 in February 2019.
• The average days on market was 69 in February 2018 and 71 in February 2019.
• There was 2.26 months’ worth of inventory in February 2018 and 2.41 months’ worth in February 2019.
• There were 3,449 active listings in February 2018 and 3,601 in 2019.

As you know, I always love a good quote. With springtime around the corner, I feel like this one fits well:

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“The day the Lord created hope was probably the same day he created spring.” —Bernard Williams

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If you have any questions or would like more information, feel free to reach out to me. I look forward to hearing from you soon. In the meantime, enjoy the beautiful weather!

Buying & Selling at the Same Time

If you want to buy and sell a home at the same time, you need a skilled, experienced real estate team behind you.

Buying a Louisville home? Get a full Home Search 

Selling your Louisville home? Get a free Home Value Report

If you need to buy and sell a home at the same time, that’s a tricky prospect in our current market.

Several years ago, we agents could coordinate these two transactions much more easily. Now, things have changed. Two or three years ago, inventory in our market started to shrink. Before that time, we had as much as 15,000 available homes on the market. Now, we have a little over 3,000.

In other words, we’re still in a strong seller’s market, which means you need an aggressive, strategic marketing program to get your current home sold quickly. If you work with our team, that shouldn’t be a problem.

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Once a home goes live in this market, it’s a challenge to get to it before anyone else.

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The real question, though, is what you’re going to do with your next home. Are you upsizing or downsizing? In either case, you need the services of an experienced team with the tools that can help you locate the right home, make an offer on it, and get it under contract before any other buyers know about it. Once a home goes live in this market, it’s a challenge to get to it before anyone else.

As far as experience goes, the agent you work with should be a full-time Realtor and be a part of a team that sells roughly 500 homes a year. If you give us a call, we’d be happy to give you a market evaluation and tell you how we can get you to the closing table on both sides of the transaction with the least amount of hassle.

If you have any other questions about our market, feel free to reach out to us as well. We’d love to help you.

Don’t Wait Another Day to Pursue Your Real Estate Goals

Now is the time to take hold of your goals and make them happen. Don’t wait another day to chase your dreams.

Buying a Louisville home? Get a full Home Search 

Selling your Louisville home? Get a free Home Value Report

Our team has already been very successful so far this year in helping people like you achieve their real estate goals. With that in mind, today’s message is simple: It’s time to take action. Whatever your aspirations are for 2019, now is the time to seize the opportunities available in our market. There are a lot of great things going on now, so don’t miss your chance to make the most of current conditions. Life is too short to put your dreams off for another day. Whether your dream is to run your own business and get involved in real estate or to own your own home, we can help. Please reach out to us today. To learn more, watch this short video.

Your 2018 Real Estate Market Recap

Here’s what we found when comparing 2018’s numbers to 2017’s.

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Selling your Louisville home? Get a free Home Value Report

I hope you’ve all had a wonderful start to the new year! Today we’ll be comparing the final numbers of 2018’s real estate market with those from 2017. 

Overall, 2018 was down a little bit from the year prior. There were about 18,000 homes sold in 2018; in 2017, there were about 18,300.

2018’s average sale price was at $218,000, up from 2017’s average price of $208,000.

Our absorption rate, or the amount of time it would take to sell all homes currently on the market, was at 2.61 months in 2018. In 2017, it was at 2.78 months. 

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Overall, 2018 was down a little bit from the year prior.

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Mortgage rates are currently sitting at around 4.5%, and we’d be more than happy to set you up with a lender who can help you find a great rate.

In 2019, we’ve found ourselves needing more agents to help handle all of our leads. If you’re interested in joining our team, let us know! We offer a 12-month guaranteed income to help agents get on their feet.

If you have any questions or need more information, feel free to reach out to us. We look forward to hearing from you soon.