Overall Louisville area real estate activity continued to decelerate in February. Home inventory fell 4% to 3,600 active listings or a 2.5 month supply of homes. The total number of properties sold was down 9% vs prior year. And, the average home was on the market for just over 70 days.
Our real estate market is rebalancing with fewer buyers pursuing less listings. The Greater Louisville Association of Realtors President commented that, "The absorption rate (supply of homes expressed in terms of months sales) is still relatively low at 2.5 months of inventory, indicating a seller's market. We're starting 2019 similar to how 2018 left off. Clean, correctly priced homes are selling well in most areas."
Late winter is a great time to list as there is less competition from other listings, and buyers are serious this time of year. What's your home worth? Click this link for a Free Market Snapshot
on local market activity. Professional home staging and architectural photographs are key and we provide both.Buyers:
Mortgage interest rates remain near historic lows. That makes this a great time to snap up a historically low rate. Waiting can be expensive as home prices and interest rates are both forecast to continue rising. We can help you find the right home! Be sure to get pre-approved for financing before you look. We have a great partner to help make that happen.
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