Current Market Stats

Here are the current market stats from the Greater Louisville Association of Realtors MLS system. It shows we still have a significant number of houses on the market (over 10,000), but our pace of selling is actually in line with local tradition for the time of year (1140 homes sold). The average selling price is relatively normal, as is the average days on market, and the median home price. The market looks solid against historic markers, we just have a high inventory, plus an increase in loan defaults causing some troubles for sellers.

I recommend being prepared to offer some concessions as a seller (paying some of the buyer's closing costs, or giving other allowances), but I encourage sellers who are not in financial trouble to continue to seek fair market prices for their homes. Buyers should take advantage of the great rates being offered, take their time to find the perfect home, and should strengthen their negotiations with sellers.

Number of Houses Sold This Month 1140	Average Selling Price This Month $173,950
Average Days on the Market This Month 73	Number of Houses on the Market this Month (As of 11/3/2007 10:39:56 PM) 10810
Median Selling Price This Month $137,000

Housing Market Analysis
As of November 3, 2007

		ACTIVE TOTAL
Anchrg/Lyndn/Prospct/UpRvrRd		793
Auburndale/Fairdale/Iroquois Park		729
Brownsboro Rd/CrescentHills/StMatthews		437
Buechel/Highview/Okolona/FernCreek		1178
Bullitt		957
Butchertown/Highlands/Germantwn		539
Carroll		97
Central Downtown District		183
DouglasHls/Hurstbourne/Middletwn/Anchrg		859
Downtwn/Old&WestLouisville/Shively		1371
FernCrk/Hikes Point/Jeffersontown		1040
Hardin		519
Hart/LaRue		87
Henry		294
Indiana		153
Meade		190
Nelson		634
OldhamCo N-I71		632
OldhamCo S-I71		626
Other Counties		750