What Happened in the Louisville Real Estate Market in 2016?

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Today we will be examining what happened in the Louisville real estate market in February of 2016. Overall, the market was great: sales were up, and inventory was low.

We have a total of 4,400 homes available, which is a big decrease from last year. This is creating a seller’s market, and our absorption rate of 3.23 months is proving this to be true.

The average sales price in February was $172,000 and this was about the same as it was in 2015, but it’s early in the year. The average days on market decreased by nearly two weeks, and it now sits at 93 days. Some of this is due to the major lack of inventory.

Interest rates are still extremely low, and around here they are at 3.74%. This is causing a lot of home buyers to purchase because they know that their affordability is so high right now.

This is also good news for home sellers, because this will bring buyers right to your doorstep. I truly believe that 2016 will be one of the best years on record to sell your home.

Finally, a quote to finish off with: “Mistakes are painful when they happen, but years later a collection of mistakes is what is called experience.” Denis Waitley.

Give me a call or send me an email with any questions you might have! I look forward to serving your local real estate needs.

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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 Selling your Louisville home? Get a free Home Value Report 

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