By Bob Sokoler, www.weselllouisville.com                     New housing sales numbers for Louisville Real Estate show a mixed bag! The number of Louisville homes selling in June 2010 are up over June of 2009 but the majority of the sales were under $180,000 (see the raw numbers below).  Home sales were up from 920 homes in June 2009 to 1345 in June of 2010. Another benchmark of home sales is the number going  under contract in a month.  Here again a good sign with an increase from 1160 in June 2009  to 1204 in June 2010.

The bigger concern for some home sellers is that homes over $180,000 are sitting on the market. There are several reasons for that:

1. Buyers are waiting for the government to issue another tax rebate.
2. There is fear over the economy and higher priced buyers are willing to sit and wait.
3. Fewer companies are hiring employees and transferring them into Louisville.
4. Buyers  are waiting for more distressed properties (Foreclosures and Short Sales) to come on the market
5. Because lending institutions have cracked down on lending money, any credit challenged buyers are forced to sit and wait until their credit rating improves.

The simple truth is: There are no plans for the government to issue another tax credit for Louisville Home buyers (at least at this writing), Homes have come down in price and in Louisville at least, homes may be at the bottom of their price drop! Interest interest rates are at an all time low (4.75) and we have lenders who can lend money even with some credit issues.
Looking to buy a home? We can help! Want to sell? We are getting the job done every day. Look at our featured homes and some of the videos we create for them.

June 2010

June 2009

TOTALS REPORTS
SOLD/ACTIVE RESIDENTIAL LISTINGS

                     Residential Unit Sales        Total   Unit Sales

                      0-2        3         4+      Resid     Condo/    Total

 PRICE CLASS/TYPE    Bedrm     Bedrm     Bedrm     Sales     Co-Op     Units

 $29,999 OR UNDER      41        34         8        83         2        85

 $30,000 -  $39,999     6        12         2        20         0        20

 $40,000 -  $49,999     9        23         3        35         1        36

 $50,000 -  $59,999     7        19         1        27         5        32

 $60,000 -  $69,999    13        22         3        38         5        43

 $70,000 -  $79,999    12        22         3        37        11        48

 $80,000 -  $89,999    11        35         2        48        10        58

 $90,000 -  $99,999    13        37         7        57        13        70

$100,000 – $119,999    14       102        16       132        32       164

$120,000 – $139,999    15       110        30       155        20       175

$140,000 – $159,999    10        69        32       111        10       121

$160,000 – $179,999     9        58        25        92        18       110

$180,000 – $199,999     7        48        26        81         9        90

$200,000 – $249,999     1        81        56       138        20       158

$250,000 – $299,999     2        27        65        94         8       102

$300,000 – $399,999     0        18        59        77        12        89

$400,000 – $499,999     0         6        36        42         2        44

$500,000 OR OVER        0         1        31        32         0        32

Total Types:          170       724       405      1299       178      1477

Average Price:     $82,512  $140,975  $265,154  $172,040  $155,337  $170,027

Median Price:     $129,950  $129,950  $240,000  $143,000  $129,900  $141,000

Average DOM:        61.52     64.65      83.1     69.99    116.18     75.56

Average CDOM:       85.97     99.13    148.01    112.65    202.66    123.49

We hope you enjoy reading these blogs as much as we enjoy writing them! If you have any questions about Louisville Real Estate or Luxury Louisville Homes, or REMAX Properties East, as a buyer or a seller please e-mail me directly at bob@bobsokoler.com , call me at (502) 376-5483 or visit our websites www.weselllouisville.com or www.louisvillehomestoday.com