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Did the Home Buying Tax Credits for Louisville really help? The numbers tell the story. By Bob Sokoler – We Sell Louisville.com

By Bob | May 1, 2010

Home Sales Up

By Bob Sokoler – We Sell Louisville.com

You better believe the tax credit helped, many buyers and sellers are sorry it’s over (at least for now)! Hundreds if not thousands of new Louisville home buyers worked hard to be eligible to get the $8000 tax credit (and move up buyers a $6500 tax credit), it all ended Friday.  But not before some record numbers were recorded for Louisville Real Estate going under contract.  The numbers almost doubled from a year ago, 2109 in April 2010 compared to 1138 in April 2009 (See below).

For months the pundits have been spouting off on the financial legitimacy and practically of the tax credits. The problem is unless you’ve been in the trenches with the buyers (like the Medley Sokoler Team) you can only guess at the tax credits success or (lack of it). Take it from us, the sales figures are way up. Our Medley Sokoler Team sales were up 200% in April from the year before. We’re now desperately looking for more listings to sell.

Without question first time Louisville buyers took advantage of the tax credit and though some sideline coaches say these people would have bought anyway, there’s no way for them to really know that. In fact many of our first time buyers told us that talk of an $8000 check from Uncle Sam convinced them to move out of the apartment and find a home. The Louisville real estate home sales numbers comparing the first 4 months of 2009 to 2010 in the $100,000 – $450,000 were way up (see below).

The real losers in all of this are owners of higher priced homes. Homes above the $450,000 price point are sitting on the market. Maybe someone on capitol hill will come to the rescue? Wait a minute this is the same administration who wants to tax those homeowners more. Forget I even mentioned lawmakers would come to the higher priced homeowner’s aid. What was I thinking!

 

  

April 2010

 


Number of Houses Under Contract

This month: 2109

Last month: 1438

This month last year: 0


Number of Houses Sold & Closed

This month: 1108

Last month: 992

This month last year: 0

 

 

April 2009 


Number of Houses Under Contract

This month: 1138

Last month: 974

This month last year: 0


Number of Houses Sold & Closed

This month: 787

Last month: 808

This month last year: 0

 

Category – Residential
Statistics for Entire MLS
 

Sale Price Range

Last Year
01/01/2009 – 05/01/2009

This Year
01/01/2010 – 05/01/2010

Percent Change

$0 – $99,999

1025

939

-8.39%

$100,000 – $149,999

799

921

15.26%

$150,000 – $199,999

480

558

16.25%

$200,000 – $249,999

240

351

46.25%

$250,000 – $299,999

154

179

16.23%

$300,000 – $349,999

79

119

50.63%

$350,000 – $399,999

55

61

10.90%

$400,000 – $449,999

31

36

16.12%

$450,000 – $499,999

28

23

-17.85%

$500,000 – $549,999

21

14

-33.33%

$550,000 – $599,999

14

8

-42.85%

$600,000 – $699,999

11

17

54.54%

$700,000 – $799,999

9

4

-55.55%

$800,000 – $899,999

3

6

100.00%

$900,000 – $999,999

2

1

-50.00%

$1,000,000 – $1,499,999

5

5

0.00%

$1,500,000 – $1,999,999

2

0

-100.00%

$2,000,000 and Above

0

1

100.00%

Total

2958

3243

9.63%

–Information deemed reliable but not guaranteed–
Copyright: 2010 by the Louisville Area MLS.
Prepared by SOKOLER, BOB of RE/MAX Properties East on Saturday, May 01, 2010 8:57 PM.

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

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