Louisville area home inventory leveled off in November at 4,425 active listings or a 2.9 month supply of homes.
The total number of homes sold was down 10% vs prior year as higher mortgage rates, continued political uncertainty, and rising home prices kept many buyers on the sidelines. The average sale price of $222,000 was up 2% vs last year, and the average property sold quickly in just under 2 months.
We remain in a Seller's market, particularly for low to mid-price range properties. However, the market for higher-end homes is somewhat balanced. The Greater Louisville
Association of Realtors President commented that, "Selection of homes for buyers has improved slightly and homes are selling at a steady pace."