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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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.