The following Shepherdsville Market Report compares key real estate statistics for the first 6 months of 2008 to those of the same period in 2007.  The data covers all sales that were recorded in the Greater Louisville Area Realtors MLS.

Nice Chart.  What does it mean?

As one of the 2 largest cities in Bullitt County, we expect the statistics from Shepherdsville to mirror those for the county as a whole. In general, this is the case and the conclusions from the chart are similar.

Buyers: For those of you who are ready and capable to purchase a Shepherdsville home, now is a great time.  Inventory is higher than any point in the last 4 years.  This gives you the opportunity to find the right property in the right location.  Further prices are level to slightly below last year.  You should take advantage of this combination before mortgage changes make it more difficult or costly to secure financing. 

Please note that the List Price / Sales Price ratio, while not included is 97.5%.  This is consistent with historical data.  Therefore, offers should be reasonable given the location and condition of the property.

Sellers:  If you do not NEED to sell your Shepherdsville home, you should probably consider waiting.  The high levels of inventory are making the market competitive and you risk losing equity by joining the fray. 

On the other hand, if you HAVE to sell your house, there are positive signs.  Sales price is essentially flat.  In most cases, you won't have to take a major financial hit to get out.  Also, DOM is consistent with last year.  If your house is priced correctly, promoted aggressively and shows well, you can expect it to sell.

One final note:  If you do not NEED to sell, but WANT to upgrade, this is a good market to do so in.  You should more than cover the loss on the purchase even if you give up a little equity on your sale.  Obviously, downgrading works the other way.

See Also:  Bullitt County Mid-Year Market Report

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Erik Hitzelberger is a licensed real estate agent with RE/MAX Alliance in Louisville. If you need a Bullitt County Real Estate agent please email me or call 502.921.3989.

I specialize in the following areas of the Metro Louisville Area: Jeffersontown (J-Town), Okolona, Fern Creek, Shepherdsville, Mt Washington, Hillview, Brooks and Pewee Valley.  Click the following links to learn more about Louisville and Bullitt County Real Estate or to Search the Metro Louisville MLS.