The Greater Louisville Association of Realtors (GLAR), who manages the MLS here in the Louisville market released their year-over-year statistics for homes sold and new listings. As you can see below, we are still seeing a very strong “sellers market”, and sold or closed homes are outpacing inventory coming into the system.
New listings for the week of March 4th thru 11th, saw a drop of over 100 units (homes/condos) versus the same week last year. It would be hard-pressed to say that this drop was caused by weather since the weather of late has been so beautiful. There were no events that could have caused this reduction either, not to this degree at least, despite the local basketball climate.
For sold listings, we saw a small increase year-over-year, but nothing especially out of the ordinary. Those numbers are keeping pace with what we have seen for over a year now, an increase year-over-year in more homes being sold/closed, from the same time frame last year.
What all this means is that we continue to see a “sellers” market, where inventory is being outstripped by the number of shoppers in the market. I know myself, my last listings have seen contracts within a few short weeks of having been listed, and this is the case even for my more expensive inventory, further out of the city.
Have questions about the report, or want to know what your home might sell for in this sellers market? Text or call 502-619-4185, or use the contact tab to reach out.
Louisville Area Real Estate Statistics
Listings-Residential Single Family & Condo
March 4 – 11, 2016 = 578
March 4 – 11, 2017 = 476
SOLDS – Residential Single Family & Condo
March 4 – 11, 2016 = 290
March 4 – 11, 2017 = 307