September 2015 Louisville home sales up

New Louisville Home sales numbers for September 2015 are out and home owners can celebrate. Louisville made significant gains in a number of areas including average price, days on the market, Home sales and pending sales.

Meanwhile a new national association of realtors report for August 2015 says nationwide wide averages were down 4.8% in August 2015.

Louisville home sales have been gaining steadily for much of 2015, the latest numbers show the average sales price in many areas of Louisville are up more than 8.5% from the same time a year ago. The average sale price increased from $183,500 to $199,355. That’s a significant gain for any town!

There’s more good news for Louisville sellers and concerning news for Louisville area buyers. The days on market have decreased for the average home dramatically. Homes in hot areas of town (priced correctly and in good condition) were on the market 69 days in September 2015 84 days in September 2014 for a reduction of 17.86%.

The good news continues for the number of homes that sold in Louisville during September 2014 up 12.9% over the year before and the number of homes going under contract increased 17.9% over September 2014. The concern is the lack of homes on the market so far during 2015. The number is down 18.5% from the same time in 2014. Louisville made up a little ground in September. Up 1.1% compared to September 2014. 1.1% , the Louisville area’s still down 18.5%  year to date.

One of the ways we track home sales is with something called the absorption rate.  If you turned off the flow of homes coming onto the market, The absorption rate measures how long it would take buyers to purchase all the existing homes that are already on the market. The chart says a six-month supply or more equals a buyers market. 5 to 6 months supply of homes equals a neutral market and anything under a five month supply of homes equals sellers market. The latest numbers for the Louisville area absorption rate shows we have a 4.54 month supply of homes indicating where deep into a sellers market.

Buyers need to be aware that good homes are selling exceptionally fast. As a buyer you need to be prequalified by a bank that you trust and be working with a Realtor who’s plugged in to the marketplace.

If you’re looking for Home you need to contact us immediately or go to our website www.WeSellLouisville.com to start receiving a list of homes coming onto the market daily. If you’re a seller thinking about selling your home call us now so we can come out and review your house and get it ready for a quick sale. Remember to call is area code 502 376-5483. Or send an email to bob@weselllouisville.com.

The outlook for 2016 looks very good but there’s some uncertainty as to whether interest rates will go up there by slowing down home sales. The feds is expected to meet in December and decide if they going did not the interest rates up. 2016 is an election year so who knows what’s going to happen!