Bullitt County Real Estate Market Report - This report analyzes property sales trends for Bullitt County homes over the last few months and versus the same time period last year. The report includes number of homes sold, average listing price, average sales price, days on market (DOM), and current inventory.
Bullitt County encompasses the primary cities of Shepherdsville, Mt Washington, and Lebanon Junction. Home sales from the smaller cities of Brooks, Fox Chase, Hebron Estates, Hillview, Hunter's Hollow, Pioneer Village and Zoneton is also included, but these are generally listed under Shepherdsville in the MLS.
Comments and Analysis
The number of homes sold in Bullitt County continues to be range hover around 70-80% of the number sold last year. A number of factors including tighter lending restrictions and general economic instability contribute to this drop. As a result of the decrease in sales, inventory levels have risen slightly and the absorption rate has increased significantly.
Despite the decrease in number of sales, homes have generally maintained their value. Two prime factors account for this. First, homes in Bullitt County never experienced a dramatic increase in price. Therefore, buyers are willing to pay a price that is fair to both parties. Second, fewer sellers (including builders) are putting homes on the market. This is evidenced by the very slight increase in actual inventory. Those who do not have to sell or who are not trading up are wisely waiting for the market to come back.
For buyers who are ready and able to buy a house, now is a great time. Interest rates are still low, selection is high, the government is offering a $7500 tax credit (low-interest loan) to first-time home buyers and we have had significant good news from Ford and GE in the last couple of months that helps secure economic stability in the region.
For sellers who do not have to sell or are not planning to buy a larger home, keeping your Bullitt County home off of the market may be the best decision. If you do have to list your property, make sure that your home is Priced, Prepared, and Promoted to sell.
Please note that these are general conclusions related to homes in Bullitt County. Results may vary by subdivision. If you have interest in a specific neighborhood or price range, please contact me and I'll gladly prepare a CMA to cover the specific property or area.
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Erik Hitzelberger is a licensed REALTOR 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: Prospect, Middletown, Jeffersontown (J-Town), Fern Creek, Okolona, 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 for Bullitt County Homes
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