As a reminder, a market's absorption rate measures the rate at which available homes are sold during a given time period. Generally, an absorption rate of 6. As you can see from the tables below much of Louisville is experiencing a severe shortage of inventory absorption rates of around 2 to 2. Because of the lack of inventory much of Louisville is in the midst of a very heated seller's market.
You guessed it, May!
Residential Property Investment Research
Second: What month had the lowest absorption rate in Louisville real estate history? From Courier-Journal.
Sales in the three counties were also up The median price for single-family homes and condos in all areas in increased 5. The average price for a single-family home or condo also increased 6. Buying a home is one of the biggest decisions people make in their lifetimes.
However, purchasing in an area with rising home values can give you a degree of confidence about your investment. The tiny neighborhood of Bashford Manor has had an unprecedented amount of growth in the last two years. The growth is not slowing down either, making the investment stronger. On top of the Bashford Manor is a great choice for families who want to live in a residential area with amenities just a short car ride away.
Located in the heart of central Louisville, Old Louisville is the hub of all the action. This neighborhood is home to the University of Louisville, hosts the annual St. James Court Art Show and features stunning Victorian-era homes. For instance, this past month, someone in the office asked which area we thought sold better, urban homes inside the Watterson, or the more suburban areas outside of our expressway system.
Convinced this was a no-brainer, we piped up with an opinion, but before we had actually dug through the numbers to prove our case. That scenario is exactly what we graphed above. We fully expected this to be a pretty graph and plot out very quickly with one group clearly outperforming another. And yet…. Home sales were up sharply across the association's three-county metro area, which includes Jefferson, Bullitt and Oldham counties.
Like most people, when the new year rolls around, I like to take a little time out and reflect on the year that was, and the year that is ahead of us.
But I can certainly take a look at what has happened, not only last year, but maybe even stretching a little further back than For the entire Louisville MLS, which includes several neighboring counties adjoining Jefferson, such as Shelby and Oldham counties, was the third year in a row that saw a rise in the number of units sold when compared to the preceding 12 months. I have seen different numbers being reported, with some outlets even saying that the MLS saw a decline in the number of homes sold between and So to clear up any confusion and to be fully transparent, all of the numbers that I used for these graphs were pulled directly from the MLS, and included all single family homes along with multi-family properties, rentals and vacant land or lots.
Want to stay in the same area? That could prove tough if prices are high across the board, especially if you want to move to a bigger home. You sell your home for a high price but now you are stuck paying an even higher price to get a bigger home in the same area. Of course, if you plan to stay in your home until your last day on earth, you may want the home to appreciate so your heirs can get rich when they sell the home. What is an Index Fund? How Does the Stock Market Work? What are Bonds?
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