As we head into the summer, I wanted to bring you a quick update on the Louisville real estate market. Here’s what you need to know.
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As we head into the summer, I wanted to bring you some of the latest numbers from the Louisville real estate market in April and compare them to what we saw at this time last year. • Here are some of the statistics I’ve been keeping my eye on: • Home sales are down from 1,583 to 1,442 • Our average sale price is up to $223,000 from $220,000 • The average days on market stayed relatively flat, going up slightly to 64 from 62 • The absorption rate sits at 2.48 months, which is up from the 2.33 months we saw last year • Active listings are low, but they’re slowly creeping up. They sit at 3,687 currently, which is up from 3,554 last year • The average interest rate for a 30-year mortgage has dropped back below 5% and now sits at 4.5%
Thanks to my great friends at Statewide Mortgage for providing me with the interest rate update.
Last but not least, it’s time for our monthly quote. This month’s quote is:
“If we ever forget that we are one nation under God, then we will be a nation gone under.” -Ronald Reagan.
If you have any questions for me in the meantime or need any real estate help at all, don’t hesitate to reach out and give me a call or send me an email. I look forward to hearing from you.