What are the latest trends from our Louisville market? Here are the numbers from last March and how they compare to the numbers from March 2019:
- The number of home sales dropped from 1,386 to 1,378
- The average sales price rose from $216,000 to $233,000
- The average days on market dropped from 75 to 71 days
- The number of pending listings dropped from 1,709 to 1,423
- The number of active listings dropped from 3,689 to 3,253
- The number of new listings dropped from 2,148 to 1,917
- The absorption rate dropped from 2.48 to 2.16 months
- The interest rate for FHA 30-year mortgages dropped from 4.4% to 3.6%
Our team sold 50 homes in March, and we’re projected to hit roughly the same mark in April. As of the recording of this video, we have 80 pending deals. We consider ourselves blessed for this amount of business during these trying times, so we thank you from the bottom of our hearts for all of your referrals. We take our clients’ safety seriously, and we’re following all necessary protocol to help buyers buy and sellers sell.
Needless to say, things will move slowly as long as we’re under lockdown. There’s been talk of reopening various markets soon, and I think it’s the right idea as long as it’s done slowly and safely. We still must practice social distancing, wash our hands often, and use common sense. I love this country, and if we all unite, we can get through this pandemic together.
Now for my quote of the month:
“Never hang your head down, never give up, sit down or grieve. And don’t pray when it rains if you don’t pray when the sun shines.” - Leroy Satchel Paige
As always, if you have questions about our market or there’s anything I can help you with, don’t hesitate to reach out to me. I’m here to help.