Today we’re sharing a real estate market comparison for May 2019 versus May 2020:
- Homes sold: 1,757 | 1,292
- Average sales price: $236,000 | $245,000
- Average days on market: 57 | 57
- New listings: 2,571 | 2,001
- Absorption rate: 2.62 months | 2.5 months*
- Interest rate: 4.63% | 3.23%
*Remember, the absorption rate is how long it would take to sell all current housing inventory.
Even though we sold fewer homes and had fewer new listings due to the pandemic in May 2020, home values increased and interest rates are lower.
We want to recommend Statewide Mortgage. Whether you’re buying a house or refinancing, they’re a wonderful local company who are great at what they do. Give them a call if you have mortgage needs at (502) 585-5626.
We also want to share a Bible verse with you: “Do to others as you would have them do to you.” - Luke 6:31
If you have any questions about our market or real estate in general, want to know what your property is worth, or if you would like to know more about our VIP program, please don’t hesitate to call or email us. We would love to speak with you. We truly appreciate all your business and referrals.