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Louisville Home Sales in April 2009 improve!

By Bob | May 2, 2009

New Louisville Kentucky home sales numbers for April 2009 show a marked improvement over the first 3 months of 2009 but still below the sales figures for April of 2008. Spurred on by an $8000 first time tax credit for 1st time buyers and those who haven’t owned a home in 3 years, the number of homes going under contract in April 2009 reached 1138 compared to 1289 a year before. That’s a decrease of 11% from April 2008 but better when compared to homes under contract the year before:  March (down 34%) , February (down 34%),  January (down 30%).

One interesting point of interest is the number of Louisville homes under contract in March of 2009 (974) compared to the number of homes closing in April 2009 (787). That means 20% of homes going under contract in March of 2009 have yet to close. Several reasons can cause that including consumers having a tougher time obtaining mortgages, waiting to lock in on a rate and loan appraisers taking more time to complete their work.

New regulations for appraisers that went into effect May 2009 could cause further delays in getting a home appraisal and stricter and tighter appraisals. We may find that appraisers will hold sellers to lower sales prices because they’ll be factoring in foreclosures, short sales and some overall lower sales prices. 

For more info on Homes in the Louisville area, head to www.weselllouisville.com or www.louisvillehomestoday.com.

 

 

 

THE MONTH OF: 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

 


Average Selling Price

This month: $156,337

Last month: $141,677

This month last year: $0


Average Days on Market

This month: 93

Last month: 91

This month last year: 0


Median Sales Price

129,000

 

 

 

THE MONTH OF: April, 2008

 


Number of Houses Under Contract

This month: 1289

Last month: 1156

This month last year: 0


Number of Houses Sold & Closed

This month: 1006

Last month: 1041

This month last year: 0

 


Average Selling Price

This month: $166,467

Last month: $155,796

This month last year: $0


Average Days on Market

This month: 89

Last month: 84

This month last year: 0


Median Sales Price

132,000

Topics: For Buyers, For Sellers |

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