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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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!

Your 2018 Real Estate Market Recap

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

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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.

Don’t Wait Until Summer to Sell Your Louisville Home

How is the 2018 spring real estate market doing? I’ll compare this year’s numbers to last year’s and explain why you should list your home ASAP.

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Before we begin today's topic, I have an important message for anyone considering selling their home. Inventory in the Louisville area is lower than I have seen in over a decade. If you are considering putting your home on the market this summer, don’t delay. Now is an absolutely great time to put your house on the market. A lot of people say they are waiting for summer, but if I were you, I would highly recommend getting your market analysis and putting your house on the market ASAP. Don’t hesitate. Get your home on the market as soon as you can. Now, let’s get back to the numbers. It’s definitely a seller’s market. In March of 2018, there were about 1,389 home sales compared to over 1,600 homes in March of 2017. A lot of that has to do with inventory.

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This is the lowest level of housing inventory that I have seen in over a decade.

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This year, the average sales price was $210,000 compared to $194,000, so prices are up. The average days on market is 68, which dropped slightly from 72 days in March of 2017. The absorption rate in March of 2018 was 2.26 months opposed to 2.61 last year. Active listings decreased from nearly 4,000 last year to 3,473 in 2018. Last year was still low. Interest rates are going up. Last year they were around 4%, and this year, they are around 4.5%. That’s thanks to Keith Swisher and his team at Statewide Mortgage. They offer great terms, great rates, and are great people to work with when looking for your new home. A 4.5% rate is still pretty low. The quote of the month is from Pablo Picasso: “Action is the foundational key to all success.” Implement action and you will see results. If you have any questions, need a free market analysis, or just want to say hello, give me a call or send me an email. I would be happy to help you!

Your Latest August 2017 Market Recap

Home sales and home values are both up in our market. Does that mean good or bad news?

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How did our market do last August compared to August 2016?

I know I sound like a broken record, but our market keeps going strong and everything looks great—including interest rates. Let’s take a look at how the numbers stack up between then and now:

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Our market keeps going strong and everything looks great—including interest rates.

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• The number of homes sold rose from 1,697 to 1,856.
• The average sale price rose from $207,000 to $211,000.
• The average days on market dropped from 61 to 51 days. 
• The absorption rate declined from 3.59 months to 2.91 months.
• The number of active listings dropped from 5,136 to 4,415.

Finally, according to Statewide mortgage, interest rates are hovering slightly below 4%, with an APR of about 4.058%. 

Now, for my quote of the day:

“Always travel the extra mile. It’s never crowded.” —Dr. Wayne W. Dyer

If you have any questions or are thinking of buying or selling a home in our Louisville market, don’t hesitate to reach out to me. I’d be happy to help you.

How the Louisville Market Changed in 2016

What's going on in the Louisville market? Today we're taking a looking at December 2015 through December 2016 to get an idea of how things changed over the course of last year.

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Today I wanted to take a quick look back at the market from 2016. It ended up being the best year we ever had, buying and selling more than 500 homes. That's all because of your business and referrals, and I appreciate it from the bottom of my heart.

To examine last year's market, we will compare December of last year to December 2015. In 2016, we sold 1,357 homes compared to about 1,310 homes in 2015. Last year's average sales price was $194,000, which was down from $198,000 in 2015. The average days on market for 2016 was 69 days compared to 79 days the previous year. The absorption rate—how long it would take to sell the current inventory—was around 2.93 months versus 3.8 months the year before.

The average number of listings in December 2016 was 4,349 homes compared to 5,300 active listings on the market in December 2015. We're seeing that inventory is very low, and it's helping home sellers get a much higher price for their homes.

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Low inventory is helping home sellers get a very high price for their homes.

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Interest rates have finally begun to tick up. A year ago, the average 30-year fixed-rate mortgage interest rate was about 3.25%, and this year, they're about 3.8%. I know we've been talking about them going up for years, but they have actually started to rise and will continue to do so. 

If you have any questions about our market, you or someone you know is interested in joining our team, or you're looking to buy or sell a home in the Louisville market, give me a call or send me an email soon. I'd love to hear from you!

Finally, I want to leave you with the quote of the month from George Washington Carver, who said: "90% of all failures come from people who have a habit of making excuses."

What Happened with Louisville Real Estate in January 2016?

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Today we’re going to talk about the Louisville real estate market in January 2016. There were a lot of good things happening, and I want to share them with you. 

We saw housing inventory decline. There were 4,600 homes on the market, and last year we had about 5,800. The absorption rate right now is 3.38 months, and the average sales price is $188,000. The average sales prices is actually up by $21,000 from last year!

Our average days on market has decreased as well, and it now stands at 92 days. All of these statistics are telling us that we are in a seller’s market right now!

Buyers should not be scared away - interest rates are still below 4%, so you can purchase a home very affordably. You have an opportunity to lock in a low interest rate and save thousands of dollars over the lifetime of your loan.

My quote for the day is: “We keep what we give, we lose what we take.” I’m not sure where I heard this, but I think that it’s very true. 

As always, I look forward to hearing from you! Don’t hesitate to ask me any questions.

Louisville Real Estate Market Recap for 2015

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I want to thank everyone who bought or sold a home with us in 2015, or anyone who referred us business. You were a huge help in making 2015 our best year yet! The whole Louisville market performed very well, and we managed to sell 30 homes just in December. Throughout the year we managed to help more than 400 families buy and sell homes. 

Let's look at 2015 as a whole. The average sales price was $192,000 in 2015, and this is a nice increase from $180,000 in 2014. Nearly 16,500 homes sold in the MLS in 2015, which is almost 2,000 more homes than 2014. Our absorption rate in 2015 was 4.53, which means that the market was balanced and healthy.

We think that this momentum will continue to push us to new heights in 2016. Interest rates will continue to increase, so we're expecting a lot of buyers to come onto the market. If you're thinking about selling, 2016 is a great year to do so.

Once again, I'd like to thank you for your business and referrals in 2015. We look forward to serving you at a higher level in 2015.

Here's a final quote to close with:

"There is little success where there is little laughter."

- Andrew Carnegie