Posted 2020-10-22
Louisville area home inventory at 2,300 active listings in September was down an astonishing 47% vs last year. The Louisville real estate market hit yet another record low at a 1.56 month supply of homes. For perspective, a six to eight month supply of homes is considered a balanced market. New listings were down 6% and total homes sold were up 2%. This continues to exacerbate an epic inventory shortage as historically low mortgage rates are driving buyers to the market much faster than sellers. The average home sold in just a month and a half. What an amazing opportunity for sellers!
