Louisville KY Real Estate Market - May
|Number of Homes Sold:||881|
|Median Sale Price:||$211,500|
|Days on Market:||37|
|New Construction Last Month:||21|
Is the current market affected by COVID-19?
Yes, our local market has definitely been affected by the global pandemic. This past month (May 2020), the number of sales was only 881. This may seem like a lot but being one of the busiest times of the year, we are actually down 28% from this time last year. After looking at the statistics for the last 10-years, this is the slowest May we have had since 2012.
On the bright side, showings are back up! We have seen a dramatic increase in showing request on active listings. As seen in the graph below, showings are now up 12.3% compared to this time last year. If this trend continues, the statistics for the month of June will be much better.
Louisville Housing Market Report 2020
Looking at the statistics further from the Greater Louisville MLS, compared to May 2019, the data shows that homes continue to sell at a fast pace. There is still a lot of uncertainty with how the real estate market will be affected long term. However, with the median sale price up 6.7% compared to last year and the average days on market is equal. Things are still looking pretty good for the Louisville real estate market.
May 2020 Louisville Housing Statistics
Homes on average right now are selling within 37 days on market. Over the years we have seen a great increase in the 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: email@example.com