The Louisville area real estate market continued to slow down in September. Total sales of 1,575 homes were down 10% vs August and just above prior year. Prices were up 6%, and the average home sold fast in just under 50 days. Home inventory was steady at 4,325 active listings or a 2.9 month supply of homes.
The Greater Louisville Association of Realtors President commented that "The current absorption rate is still below 3 months, indicating a seller’s market, but it really depends on the location and price range of the property. Our members anticipate decent showing activity through mid-November when things typically slow down heading into the holiday season."