New Listings Trend Up, While Sold Properties Trend Down
The Greater Louisville Association of Realtors (GLAR) has released it’s latest numbers for real estate activity (sold and new listings) for the Louisville area market. The numbers of homes listed, and sold (closed) continue to be constant as compared to year-over-year trends.
As you can see in the table below, the number of new listings of homes and condos continued to stay close to last years statistics. Note though, that listings are often both new properties coming to market, as well as re-listings of homes that have already been on market, but their listing just cancelled, then re-listed for either new pricing, and/or exposure. With that being said, listing statistics are often skewed higher than the reality.
The statistic for sold homes and condos did however see a small decrease last week, as compared to the same week last year. Nothing disturbing really as compared to past weeks where we have seen a drop in homes sold in the high double-digits, or more.
Overall from my chair as a Realtor I continue to be concerned overall about the market. Though honestly I don’t believe the change in the market going from being a strong sellers market, to a weaker buyers market is the result of higher interest rates, many do disagree with me.
Honestly, I am still analyzing the situation as it relates to the shift of the market from strength for sellers of real estate, to being more in line of a buyers market. Even then not a true buyers market, since buyers seem to be fewer overall.
What I am cautiously waiting for, is for our market to clear the holiday hangover, as we often see, and for us to get back to a more normal work schedule, etc. That is when folks can really determine their needs as it relates to housing, and what their budget might allow. Stay tuned…
In the meanwhile, if you have questions about the market, or want to know what your home might sell for, please text or call me and we can meet for a cup of coffee to discuss. My contact information is available, above, below, and many other locations.
Listings – Homes & Condos
2017 – 224
2018 – 245
Sold Homes & Condos
2017 – 329
2018 – 304
*Source – GLAR – Greater Louisville Association of Realtors