Inventory Advance Pauses
Louisville's steady increase in home inventory slowed in August on heavy buyer demand. Total home inventory remained unchanged at 4,425 active listings or a 2.9 month supply of homes. The average sale price of $215,000 was up 3% as competition for homes remained strong. Days on the market rose slightly to 51 days, and the number of homes sold rose by 7% on tight supply.
The Greater Louisville Association of Realtors President commented, "Our members continue to see a very strong seller's market this summer for starter and move-up homes. The pace of sales doesn't taper off until you get into the $400s and higher. Sales are only limited by the amount of inventory available to buyers."