Louisville Home sales conitnue to climb

Louisville home salesEven with the childish antics of our elected officials Louisville home sales continued to climb out of the gutter. For two weeks in October the government shutdown appeared as if it was going to take the real estate market in Louisville down the tubes. Consumer attention was on the childish behavior in Washington and not on buying a home. Who could blame anyone thinking about making a large purchase? The government shut its doors and we were about to fall off a financial cliff!  Amazingly as our elected leaders put their petty differences aside (at least temporarily)  the phones immediately began to ring and contracts were being written and accepted. You had to be in our office to realize that there was a direct cause and effect of what happens in Washington and around the world really effects our part of the world.

The new numbers for Louisville Kentucky home sales in October 2013 came out today and the price of home’s area wide was up 4.5 % over October 2012. But remember that number is skewed because there were fewer foreclosures and short sales on the market last month compared to the year before.

But there was nothing skewed about the number of homes going under contract last month, up 8.8% over October 2012.  And the number of homes that sold and closed last month was up 5% over the same period a year before. More good news came from the average days on market for a home down 24.5% from a year before (see the raw data below).

All the numbers are a good indication that the recovery continues to move forward. But the debacle just barely averted in Washington last month could have an adverse effect in just two months. If there are any elected officials reading this report you need to understand that your actions affect more your counterpart across the aisle. Have you forgotten that the American public put you in that office to lead and represent us! Your poll numbers are down, confidence in your ability to govern is lacking and another example of your bipartisan temper tantrums cannot and will not be tolerated!

We  now head into the colder months which are traditionally slower home sales months. There are still buyers out there looking for homes. But, to be seen a home has to be priced right, in good condition and be marketed properly. If you have questions, concerns or opinions about this newsletter please feel free to email back: Bob@wesellLouisville.com.

October 2013


Number of Houses Under Contract

This month: 1433

Last month: 1430

This month last year: 74


Number of Houses Sold & Closed

This month: 1198

Last month: 1428

This month last year: 70

 


Average Selling Price

This month: $174,473

Last month: $181,166

This month last year: $169,762


Average Days on Market

This month: 60

Last month: 61

This month last year: 93


Median Sales Price
 

142,000

 

October 2012


Number of Houses Under Contract

This month: 1307

Last month: 1279

This month last year: 42


Number of Houses Sold & Closed

This month: 1141

Last month: 1098

This month last year: 76

 


Average Selling Price

This month: $166,931

Last month: $168,630

This month last year: $153,006


Average Days on Market

This month: 79

Last month: 78

This month last year: 75


Median Sales Price
 

139,000

Discussion

#1 By Dave Grbich at 11/18/2013 -1:34 PM

It looks like you are seeing some great improvements in the Louisville market, especially over last year. In Orange County we have also seen increase in our home prices and number of sales over last year. Good luck in the Louisville market!

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