Below is a look at the current Louisville real estate market. Numbers and statistics are gathered from the Greater Louisville Association of Realtors® (GLAR) for the month of August 2022.
Louisville Real Estate Market - August 2022
Current Louisville Housing Market (10-year Trend)
Total Homes Sold in Louisville - August 2022
Sales slowed down quite a bit for the month of August. Which actually brought August 2022 in at the fourth worst August over the last 10 years. The total number of sales for was 1623. This is down -10.4% from August 2021.
Median Sale Price in Louisville - August 2022
Median sale prices for homes in Louisville continue to be record-breaking. With sales slowing down we may begin to see the median sale price level out in the coming months. Median sale price for August 2022 was $264,900. This is up +12.4% from last year.
Activity & Showings on MLS Listings
Activity and showings are starting to slow down. The most recent report shows a -25.9% decrease in showings compared to this time last year.
Image Source: ShowingTime Showing Index
Is it a Buyer Market or Sellers Market?
It is currently a Sellers Market. The absorption rate for the month of August was 1.53 months. This is an indication of how many months of inventory we currently have. To be in a balanced market, you need around 5 months of inventory. Looking at the statistics further from the Greater Louisville MLS, compared to August 2021, the data shows that homes continue to sell at a fast pace. There is still some uncertainty about how and when the real estate market will adjust. However, with the median sale price up 12.4% compared to last year and the average days on market up 31%. Things are still looking pretty good for Sellers in the Louisville real estate market.
It is a strong Sellers Market and with low inventory, now may still be a great time to SELL. Find out what your home is worth!Whats Your Home Worth?
August 2022 Louisville Housing Statistics
- Median Sale Price: $264,900 (Up +12.4% from August 2021)
- List To Sale Price Ratio: 99.22% (Up +0.85% from August 2021)
- Days on the Market: 17 Days (Up +31% from August 2021)
- Total Sold Listings: 1623 (Down -10.4% August 2021)
Homes on average right now are selling within 17 days on market. Over the years we have seen a great increase in home prices around the Louisville area. Right now may still be a great time for homeowners that are thinking about selling because of the continued lack of listings but it looks like that could be shifting soon. The only question is when and how soon?
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These Statistics are from the Entire GLAR MLS. Property type: Residential. As of Monday, September 19, 2022
Posted by Nathan Garrett on
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