New Louisville Kentucky home sales numbers for March 2011 show some promising signs. The number of homes sold last month was down 10% from March 2011.
Ok, you may be saying “down 10%… that’s promising”? Heck yes… remember March 2010 saw large numbers of first time and move up home buyers in the market skewing home sales up for the first 6 months of 2010.
The number of homes going under contract was also positive for home sellers. Even with snow, cold temperatures and rain for a majority of March home buyers were still out looking at homes and asking their Realtors to write contracts. That brought the number of homes going pending in March 2011 to within 4.4% of March 2010.
The average home sale price is dropped 3.1% so home sellers need to check with their Realtor about their listing price.
For Buyers the news is good. Interest rates are saying under 5% as of this writing and sellers are willing to make deals. If you’re on the fence about buying a home take a look at prices now compares to 3 years ago. All signs point to interest rates going up this year along with home prices as the economy recovers. New encouraging unemployment numbers Friday show signs of the recession slowing that will move interest rates upward.
Bob Sokoler is a former Anchor/Reporter turned Louisville Realtor 7 years ago in Louisville Kentucky. You can learn more about Bob, his Team and Louisville Real Estate at www.weselllouisville.com
