Both New Listings and Sold Homes/Condos Down for Week
As you can see below, as compared to the same week last year, we see that new listings were off thirty plus units.
Keep in mind, that the new listings number, for both last year, and this year includes those properties that were cancelled, then immediately re-listed as “new”, meaning that those numbers are never truly accurate.
Yet at any one time, that is the actual number of homes, and condos for sale. So, overall our numbers of single-family homes, and condominiums is down from the same week last year.
For sold homes, or closings, we also saw a decrease from last year. For that number, we were down some 64 properties from the same week last year. Given that we only sold 269 units last year, I would say that is a pretty sizable drop.
Theories of what is causing these drops are many, but only in time we will see how the market stands for the Spring “selling season”.
What I do know is that inventory remains down, so that would indicate more demand than properties, but that is swayed by the overall decrease in demand in many areas.
Perhaps once Spring weather sets in, sporting events subside, and overall stability in the market sets up, we will see a return of buyers to the marketplace. I know that my sellers hope so!
Louisville Kentucky Real Estate Market Statistics
March 17th – 23rd
Single-family Homes and Condominiums
2018 – 495 units
2019 – 463 units
Sold Properties (closings)
2018 – 269
2019 – 205
* As provided by the Greater Louisville Association of Realtors – GLAR