Posted 2018-05-08
An extraordinary inventory shortage continues to drive a strong Spring seller's market for entry-level to mid-priced homes. Higher-end homes are moving somewhat more slowly and inventory levels are improving. This makes it a great time to list your house, and an even better time to trade-up! Historically low mortgage rates are still providing an affordability boost. The Greater
Louisville Association of Realtors President noted that, "Multiple offers for move-in ready starter homes continues to be the norm, and 55% of homes are selling in 30 days or less. Our members are working diligently with prospective sellers to get their homes ready for the Spring and Summer markets." Overall
Louisville area home inventory remained steady in April at 3,500 active listings or a 2.3 month supply of homes. The average sale price of $223,000 was up 10% on limited supply. The number of homes sold increased, while average days on the market rose slightly.
