Louisiville Home Sales up…Inventory down!

The dust has settled and  Louisville Home Sale numbers for July 2012 are official! Spurred on by record low interest rates and even lower home sale prices Louisville Homes going under contract last month outpaced July 2011 by almost 29 percent. The number of homes closing was up by 19.44 percent.

As of August 22, 2012 the number of homes on the market were down to 7646. That’s more then 2000 fewer homes on the market compared to the last few years.

Average home selling prices were down $2000 from a year before to $177,871 helped assure buyers they were getting a great deal. Interest rates hovering down in the 3.5 percent range helped convince buyers monthly mortgage payments would be low.

The good news for Louisville home sellers is that the worst may be over. Naturally no one can forecast the future, but unless the European economy completely collapses, home sale prices  appear to have bottomed out. If the national economic forecasts are correct, home prices should slowly start to increase in 2013.

Savvy Louisville home buyers are hearing the news reports of a possible increase in housing price next year, along with rumors interest rates will rise after the Presidential elections and they are turning to Realtors to get a perspective on the best areas for housing prices.   

By the end of July 2012 Our Medley Sokoler team had sold and closed more homes than all of 2011. As of this writing our total continues to climb with a  136 homes closed and a goal of more than 180 homes for the year easily reachable.

Our We Sell Louisville team is thrilled to play a small role in helping so many families reach their goals. For more on housing trends see our video below.

  

2012

Number of Houses Under ContractThis month: 1613Last month: 1629This month last year: 0 Number of Houses Sold & ClosedThis month: 1196Last month: 1209This month last year: 0

 

Average Selling PriceThis month: $177,871Last month: $179,680This month last year: $0 Average Days on MarketThis month: 80Last month: 83This month last year: 0 Median Sales Price145,000

 

 

2011 

Number of Houses Under ContractThis month: 1252Last month: 1341This month last year: 0 Number of Houses Sold & ClosedThis month: 1048Last month: 1137This month last year: 0

 

Average Selling PriceThis month: $179,612Last month: $174,528This month last year: $0 Average Days on MarketThis month: 84Last month: 79This month last year: 0 Median Sales Price145,000

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