The Louisville area real estate market is hot. Home inventory is at 3,800 active listings or a 2.6 month supply of homes. The total number of properties sold in May was up 20% vs. April. The average sale price was up 10% vs last year driven by higher home prices and an increased mix of higher-end home sales. The average home sold fast in just under 60 days.
The Greater Louisville Association of Realtors President commented that, "We are still technically in a sellers' market with the absorption rate and average days on market both around 2 months. However, it's still a tale of two markets where homes under $250,000 are selling very quickly and higher end homes are selling more slowly."