IS IT HALF FULL OR HALF EMPTY?
In the real estate market it is more important than ever to be current with the statistics, doing so prepares us for turns, dips or curves that come along. I remember in my "past life" when working as a consultant for major health-care organizations, we stayed ahead of the curve by making our plans using statistics as a bell-weather.
The Greater Louisville Association of Realtors statistics are telling us that NOW is the time to be IN the market. If we believed everything we hear and see on the news it's time to crawl in a hole and do nothing!!!! PLEASE don't listen, now is the time to position yourself to cash in when the market shifts again!
Why do I feel this way, well let's look at the statistics;
•1. In October we can see that in regard to the houses that sold the Average Day's on the Market were just 78. This is significant because of the reduction from the month before. This tells us that the houses that are priced correctly are not sitting on the market AND people are getting the loans to buy! Along the same lines the current average days to close in the Greater Louisville Area is just 35!
•2. The total inventory of homes currently on the market in the GLAR is just over 10,200, this is down from a high a couple of months ago of almost 11,000. This is a good sign for both buyers and sellers. With a smaller inventory of homes on the market buyers can refocus on the exact specifications of the homes they want and sellers do not have as many homes to compete with for buyers. This statistic is yet another sign that loans are being given and people are buying homes.
•3. When comparing the homes sold in October of 07 to the homes sold October of 08, we see that in the GLAR homes are selling for approximately $92 /SF. This is over 95% of the total from 07. This looks pretty stable to me!
If you would like additional information about the statics relative to the homes in certain area's or neighborhoods please give me a call today. The stats are hot off the presses and I am encouraging my buyers and sellers to strike while the iron is hot.
Call me today at 502-551-4295 or Alan Meyer at 502-609-3014 and lets chat!
Continued Bliss!
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