New Homes in Poplar Lakes - Louisville Kentucky
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New Homes in Louisville
Pulte Homes has recently had their grand opening of the new Poplar Lakes located on Deer Lake Lane and Poplar Lakes Lane just south of Jeffersontown about 20 minutes from downtown Louisville. Easily accessible via Highway 155 or Interstate 265 this community is bordered by the Pine Valley Estates, Saratoga Woods and the Charlie Vettiner Park. From Easum Rd., head south along Poplar Lakes Lane, which turns into Deer Lake Lane after the roundabout. This collection of 12 new homes feature nine distinct floor plans starting at about $208,000 to about $250,000.
Floor plans start at 1500 ft.² to nearly 2600 ft.². The models include:
- Everett – starting price from $207,900
- 1513 ft.²
- 3 bedrooms / 2 full baths
- 1 story home
- Portland – starting price $213,900
- 1806 ft.²...
The new Louisville numbers are out for January 2016 home sales and though sales are up the real story is the lack of home inventory. Looking at the numbers first, the number of homes sold in January 2016 were up 2.3% over the year before. The number of homes going under contract were up 12.6% over the same time period the year before.
But if you look at the new homes coming on the market in the month of January you'll see the number was down 13.2% from the year before. That's why Louisville Buyers are desperately looking for their next home and there are very few to be found.
We measure the buyer activity with the term called “absorption rate”. If we turned off the faucet and no other homes came onto the market as of right now, how long would it take existing buyers in the marketplace to purchase or “absorb” the current supply of homes. The nationally accepted scale is as follows: six month supply or more is a buyers market, a 5 to 6 month supply of homes is a neutral market anything under of five months supply is said to be a sellers market. The current absorption rate for the Louisville area is a 3.36 month supply, a firm sellers market! In fact just a year ago we were talking about a firm sellers market and the absorption rate was a 4.82 month supply of homes.
What does this mean to you? Let's start with sellers, if you are considering putting your home on the market this year now is the time to do it. Typically you'll get more money and sell faster if you're on the market sooner than later this year. Naturally you have to be concerned about finding your next home,...