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 has been trending from 80% to 70% 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 and the absorption rate has increased significantly.  This month it is higher than any point in the last 4 years. 

Despite the decrease in number of sales, homes have generally maintained their value.  The drop in average price that you see is more a reflection of more people buying lower-proced homes than homes declining in value.  Additionally, fewer sellers (including builders) are putting homes on the market.  This is evidenced by the fact that 35 fewer homes sold this month vs 2007, but there still 9 less Active listings.  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.

* * * * *

Erik Hitzelberger is a licensed real estate agent with RE/MAX Alliance. He specializes in helping clients buy and sell homes in Louisville and Bullitt County including Shepherdsville, Mt Washington, Brooks, Fox Chase, Hillview, Pioneer Village, Hunters Hollow, Zoneton, and Lebanon Junction. Feel free to email or call me (502-921-3989) about your real estate needs.