I recommend being prepared to offer some concessions as a seller (paying some of the buyer's closing costs, or giving other allowances), but I encourage sellers who are not in financial trouble to continue to seek fair market prices for their homes. Buyers should take advantage of the great rates being offered, take their time to find the perfect home, and should strengthen their negotiations with sellers.
| Number of Houses Sold This Month 1140 | Average Selling Price This Month $173,950 |
| Average Days on the Market This Month 73 | Number of Houses on the Market this Month (As of 11/3/2007 10:39:56 PM) 10810 |
| Median Selling Price This Month | |
Housing Market Analysis
As of November 3, 2007
| ACTIVE TOTAL | ||
| Anchrg/Lyndn/Prospct/UpRvrRd | 793 | |
| Auburndale/Fairdale/Iroquois Park | 729 | |
| Brownsboro Rd/CrescentHills/StMatthews | 437 | |
| Buechel/Highview/Okolona/FernCreek | 1178 | |
| Bullitt | 957 | |
| Butchertown/Highlands/Germantwn | 539 | |
| Carroll | 97 | |
| Central Downtown District | 183 | |
| DouglasHls/Hurstbourne/Middletwn/Anchrg | 859 | |
| Downtwn/Old&WestLouisville/Shively | 1371 | |
| FernCrk/Hikes Point/Jeffersontown | 1040 | |
| Hardin | 519 | |
| Hart/LaRue | 87 | |
| Henry | 294 | |
| Indiana | 153 | |
| Meade | 190 | |
| Nelson | 634 | |
| OldhamCo N-I71 | 632 | |
| OldhamCo S-I71 | 626 | |
| Other Counties | 750 |
2 comments:
Nice site. What is the trend in the Highlands? Are homes taking longer to be sold? Also, what areas would you recommend for purchase and why? For investment? Thanks and keep up the good work.
Thanks for the comment. You ask several great questions that really require more information to completely answer, but I will try to briefly answer them here. Feel free to contact me through my website for further followup...
Regarding the Highlands, as with all of the Louisville area, you will find that the trends really depend on the specific home or local area you are discussing. The market in general in Louisville is normal in terms of homes sold, we are just experiencing an increased inventory. This gives the buyers options and forces the sellers to make the extra effort to stand out. The Highlands is no different.
Average days on the market have also remained within historical trends in most areas. Again, the increased inventory will inevitably cause those numbers to rise, but the homes in move-in condition priced competitively are selling ahead of the averages. As they should...
I can't make a general recommendation on an area to purchase because it is such a personal decision. We would need to look at your specific situation.
Same goes for investments, really...One of the challenges with Louisville's investment (rental) market is the housing prices have increased, but the rents stagnated. This was caused by the abundance of cheap money over the last few years reducing the renter population, but now it is working against the numbers for investors making it harder to realize cash flow.
I hope this helps!!
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