Louisville KY Real Estate Market - October
|Number of Homes Sold:||1,201|
|Median Sale Price:||$216,500|
|Days on Market:||23|
|New Construction Last Month:||23|
Is the current market affected by COVID-19?
Surprisingly, as you will see in the graph below we have had the best October in Louisville real estate for the last ten years! Curious where we would be if there was not a global pandemic. The number of sales for October was 1,200. This is up 7.5% from this time last year.
Line chart for Louisville real estate sales over the last 10-years.
Showings are still going strong! We have seen a steady increase in showing request on active listings. As seen in the graph below, showings are now up 51.9% compared to this time last year. If this trend continues, the statistics for the month of October will continue to be strong.
Image Source: ShowimgTime Showing Index
Louisville Housing Market Report 2020
Looking at the statistics further from the Greater Louisville MLS, compared to October 2019, the data shows that homes continue to sell at a fast pace. There is still a lot of uncertainty about how the real estate market will be affected long term. However, with the median sale price up 12.29% compared to last year and the average days on market is down 5.7%. Things are still looking pretty good for the Louisville real estate market.
October 2020 Louisville Housing Statistics
Homes on average right now are selling within 23 days on market. Over the years we have seen a great increase in home prices around the Louisville area. Right now may still 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?
These numbers are from the Local MLS: Area of 00-Central Downtown District/Old Louisville, 01-Dtwn Old Louisville/Shively/West Lou, 02-Buchertwn/Hghlnds/Germantwn, 03-Clifton/Crescent Hill/St Matthews, 04-Pleasure Rdg/Valley Station/Shively, 05-Auburndale/Fairdale/IroquoisPrk/Shively, 06-Buchel/Hghvw/okolona/FernCreek, 07-FernCreek/Hikes Point/Jeffersontown, 08-DglasHls/Hurstbrn/Mdltwn/Anchrg/StMatt, 09-Anchrg/Glnvw/Lyndn/Prospct
Nathan Garrett is a local real estate agent in Louisville KY. Creator of the GarrettsRealty.com website. He specializes in Real Estate in Louisville and Oldham County. Questions about buying or selling? Send him an email: firstname.lastname@example.org