So Far This Year and Why Louisville Real Estate Needs to Get on Its Horse!

Horse Race
It’s still too close to Derby time not to use a horse racing analogy.

With the Derby and Preakness behind us, I thought I’d utilize an appropriate thematic in the title. Over on Louisville Homes Blog, I’ve been writing consistently on reasons why people should be investing in real estate right now. Whether that’s improving their own home or taking advantage of the current market conditions to improve their portfolio, there’s just too much to like about Louisville real estate right now.

Most experts agree that sales will rise in 2011 but not by much. So what’s happening? Let’s see where we are at this point compared to last year. This data is for Jefferson County in Louisville, KY only.

Year # of Sales Total Sales Avg Sales Median Sales
2011 2,483 $386,417,704 $155,625 $125,750
2010 2,959 $463,916,035 $156,781 $130,700
Period: 1/1 through 5/15

So let’s see if I’ve got this right: fewer sales, smaller totals, lower averages, and medians. Check, check and check. Well, that’s disappointing.

Obviously, consumers either haven’t heard the experts recommendations on real estate (which I find hard to believe) or else they don’t believe them (the more likely situation). Heck, I’m thinking about buying a new house myself, and I don’t even need one.

I just don’t want to look back 5 to 10 years from now and think that I really missed out. (Especially since I’m supposed to be some kind of expert, huh?)

Accurately predicting the future is next-to-impossible but all the signs point towards improvement. Will it happen? Now that’s another story for another time.