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Here's an update on inventory conditions in Louisville.
The red line is the total inventory in Louisville. The dark blue line is the percentage of inventory under contract. The chart goes back to June.
The chart shows that the total number of available houses peaked during the summer at nearly 70 properties. Beginning in late September, it dropped to below 50, a fairy typical seasonal pattern. The real story is that the percentage under contract dropped markedly and has been on a downward trend since June, from a shockingly high 82% at the beginning of summer to about 50% now.
Note: I'm currently seeking an investment property in Louisville. Although it made our list of properties worth looking at last week, I passed on 715 W Lois Ct. Great house, great location, and we were considering offering in the neighborhood of +10% (and waived contingencies). Had the house been a mile or two closer to downtown, we would have stayed at the bidding table.
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The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties. We strongly recommend conducting rigorous due diligence and obtaining professional advice before buying or selling real estate.
Ready to buy or sell? Schedule an appointment or call 303.746.6896.
You can also like our Facebook page or follow us on Twitter.
As always, your referrals are deeply appreciated.
--
The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties. We strongly recommend conducting rigorous due diligence and obtaining professional advice before buying or selling real estate.
