Louisville Homes Market

Current market conditions

Updated for Q1 2007

 

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Louisville Home Sales vs Homes Inventory  -What's the difference?

Here's the difference. When you look at a real estate market (such as Louisville), you need to examine it in terms of both Sales AND Inventory. Both will affect the time that you need to sell your home and at what price.

Currently in Louisville, sales are moving along nicely. This is counter to what you may have heard (i,.e the market is soft, etc.). The reality is that houses are moving. That's the good news. Here's the reality check:

The IS still a lot of inventory! We still have over 8,840 listings active on GLAR (Louisville MLS). This compares to being in the 6,800range last year at this time.This means that in order to get your home sold, you will need to stand out from the crowd, but if you do, things CAN happen quickly.

 

Current GLAR (Louisville) MLS Sales Summary

(Q1 2007)

Month	2006	2007
January	824	856
February	959	1012
March	1354	1296

Other Important Factors

• 8849 Homes Currently listed on the Louisville MLS (As of 3/15/07--subject to change)
• Internet Activity at  our website remains STRONG with over 200 new buyer leads in the past month vs 70 last year at this time!
• Homes in some areas of Louisville are selling MUCH faster than others. Check with one of our REALTORS to find out where your home might be in our current market.
• Condition remains a primary factor in saleability of homes. With more buyers than sellers in the current makret, many buyers are looking for PERFECT homes that they do not have to fix up.
• Interest rates remain VERY affordable, averaging in the upper 5 percent range to the mid 6 percent range, depending on product, terms and credit score  Note: They have started to trend up in recent weeks, so time is of the essence right now.

An interesting note:

DID YOU KNOW?

We are seeing more and more requested showings on our website go to those homes with PLENTY of photos! Be sure to have your REALTOR take lots of high quality shots. They can upload up to 20 photos for your home online! This is true whether you list your home with a RE/MAX Properties East REALTOR or not.

Eric 

 

 

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