Home Supply Is Beginning to Rebuild
Louisville area home inventory increased slightly in July to 4,200 active listings or a 2.8 month supply of homes. The number of homes sold was down 5% vs prior year and the average sale price of $238,000 was up 9%. Homes sold fast on limited supply, with the average property selling in just over 45 days.
The Greater Louisville
Association of Realtors President said, "Move-in ready homes under $250,000 are still selling at a brisk pace, but sales at higher price points have moderated." He added that, "The inventory situation is getting slightly better for buyers, with over 4,000 homes for sale in our system compared to 3,000 just a few months ago."