If you’re a frequent reader here at LHB, you’ll remember that February home sales were out of this world! Taking a look at March, we didn’t reach those altitudes but it was still an incredible month for home sales in Jefferson County Kentucky.
Check this out!
According to the Greater Louisville Association of Realtors (GLAR), there were 942 properties sold in March 2016. This is a whopping 14.46% increase over the previous year, which was a big jump over its previous year. We’re moving on up!
The all-time record for Louisville home sales for the month of March occurred in 2005 when 997 properties exchanged hands.
So where do we go from here?
It’s tough to tell. Clearly, demand is there. Buyers are out looking. Homes that are move-in ready are often selling in the first week, especially those priced appropriately.
Even investors are having difficulty finding homes to flip as inventory is simply anemic. There’s a bit of good news in this area as new listings are moving higher. During March, there were 7.4% more new listings than one year ago. Hopefully, this will continue into the selling season.
If you’re thinking about selling your home in Louisville, I’d love to speak with you. We haven’t had a better seller’s market in decades.
Every situation is different and some homes are simply more desirable but planning the purchase side of the move is currently where the challenge lies.