2014 Numbers Reveal How Strong Louisville Real Estate Market is NOW
2015 is proving to be a good time to sell.
The 2014 statistical reports are in for the Louisville area, and it is clear that now is the most beneficial time for local sellers to list their property. When comparing the year-end numbers of 2013 to those of 2014, a large decrease in active listings can be seen. Louisville MLS inventory is down 11%, so the demand for availability of quality property is high. December came and went with records lows of just over 6,000 listings in all of Jefferson, Oldham, and Bullitt Counties combined. Compare this to the more than 9,000 homes that were listed here in Louisville, KY during our housing market’s worst years (2008-2011), and you can see that the odds of properties selling quickly are definitely high. When analyzing the 2014 year as a whole, a 2.7% increase in the average selling price (just over $180,000) shows the Louisville market is returning to a healthy rate of appreciation. The lack of an abundant supply of nice homes for sale has helped increase prices as well.
With the comparatively low number of houses currently available for buyers, the spring rush has begun early for 2015. The high number of interested buyers, coupled with the decrease in valuable inventory available in Louisville, inherently creates a competitive market this time of year. If you are planning to sell your property during 2015, the best time to list is NOW. The Louisville real estate market needs your quality listing to meet current home buying demands. Homes are selling quickly with the limited options available to buyers.
Louisville and the surrounding area is truly a seller’s market now!
If you are interested in getting a jump start on selling your property this season, contact Pam Ruckriegel with the Louisville Real Estate Pros at Keller Williams Louisville East today at 502-435-5524.