The Numbers Tell the Story: Louisville's Real Estate Market is Doing Fine!

Our Louisville Multiple Listing System recently released its January numbers, comparing residential sales statistics in January 2007 to stats in January 2008.  The numbers show that we're very fortunate not to be living through the dip in prices that other pockets of the nation are facing.

Here are the sales statistics for single family homes and condos throughout our local MLS, which includes all of Louisville's Jefferson County and nearby counties such as Oldham, Trimble, Shelby, Henry, Spencer and Bullitt:

                              Homes Sales Report Jan 2007                    Home Sales Report Jan 2008

Houses Under Contract                1251                                                      1015

Houses Sold & Closed                   954                                                        802

Average Selling Price               $163,506                                                 $172,735

Median Sales Price                  $130,000                                                 $133,800

Average Days on Market                 89                                                          88

As you can see, while the number of homes sold in January '08 as compared to January '07 fell about 19%, and the number of homes Sold and Closed also dropped about 16%, the average Selling Price INCREASED a full 5.5%! 

That's good news !  With already attractive interest rates continuing to inch downward, more and more buyers are taking advantage of being able to get a lot more home for the money, and this is also great news for our local economy.

Jacki and Jerry Shafer are MEGA AGENTS with The Shafer Team and Keller Williams Realty Louisville East.  Jacki and Jerry Specialize in eastern Jefferson County in Louisville and all over surrounding Oldham, Henry, Trimble and Shelby Counties in Kentucky.