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.

Buying a Louisville home? Get a full Home Search 

Selling your Louisville home? Get a free Home Value Report

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.

Buying a Louisville home? Get a full Home Search 

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!