Jacki Shafer | Phone: 502-643-7653
Address: 9911 Shelbyville Road, Suite 100, Louisville, KY 40222

Jacki's Real Estate Blog

15
Mar 2012

Should The Louisville Housing Market Beware The Ides Of March?

How well has our Louisville area real estate market fared as compared to mid-March 2011?  Should Sellers and Buyers be approaching the Spring market with a strange sense of foreboding?

Me Thinketh Not.

In fact, this Louisville Realtor is seeing the housing market heating up, and we are even experiencing – dare I say it? – bidding wars.  Many home sellers in the most attractive and sought-after areas of Louisville who have priced their homes correctly are receiving multiple offers and getting full price and even above full price for their homes.

With Interest Rates At All-Time Lows, Buyers Are On The Hunt For Homes.

With bargain-basement interest rates hovering around 4 percent for a 30-year conventional mortgage, buyers are jumping down off the fence they have been sitting on and grabbing up some great deals.  According to USA TODAY, The Federal Reserve decided not to hike interest rates on the news that the economy seems to be “growing moderately”.  This recent uptick in economic indicators is giving Louisville area buyers a renewed sense of hope, and the number of SOLD signs in Sellers’ front yards is also on the upswing.

Are Home Prices Increasing In Light Of A Brighter Economic Outlook?

Not yet.  Although the numbers of homes selling is increasing, the values are still showing a flatline in most areas.  Contrasting home sales throughout the Louisville area:  Louisville and the surrounding counties of Jefferson, Oldham, Bullitt, Shelby, Henry, Spencer and Trimble counties, the numbers are almost exactly the same for January 1 through March 15, 2012 as compared to January 1 through March 15, 2011:

Looking At The Stats:

The Average List Price = $175,853

The Average Sales Price = $167,100

List-To-Sales price = 95%

Average Cumulative Days On Market = 144

Current Inventory = 7.28 Months  (This number reflects how many months it would take to sell out of inventory at the current month’s rate of sale.)

A Good Time To Sell?

The best way to determine that is to get a current market analysis.  Feel free to contact me:  Jacki@TheShaferTeam.com if live here in the Louisville area and are considering a move.  Or please leave a comment below.

 

 

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