COVID-19 | MAR 27 2020 | SPECIAL REAL ESTATE MARKET REPORT | LOUISVILLE

COVID-19 | MAR 27 2020 | SPECIAL REAL ESTATE MARKET REPORT | LOUISVILLE

COVID-19 | MAR 27 2020 | SPECIAL REAL ESTATE MARKET REPORT | LOUISVILLE

Our first concern is that you keep safe by staying update on best practices by visiting louisvilleky.gov and clicking on the yellow “What You Need to know about COVID-19” banner at the top of the page. Here you will find the latest updates and a link to the Kentucky COVID-19 website, where you will find all the latest statistics and best practices to keep yourself healthy

If you have loved ones across the country, CDC.gov will keep you updated to the statistics and best practices in each State and area across the country.

Our second concern is to keep you updated on the affect of the COVID-19 pandemic on the real estate market.

According to the Greater Louisville MLS, the marketplace for Louisville, KY’s residential real estate.

In Jefferson County, KY, during the time period between March 16th and March 26th there was, actually:
An increase of 434 new home & condo listings on the market
Under contract – 419 home & condo listings went under newly-accepted pending

We would tell you that is a good sign, that the real estate market showed resilience in the face of the pandemic.

Secondly, according to Greater Louisville MLS, within the areas of Central Louisville East – also known as distinctive or historic Louisville – these are all areas of Louisville from, and including Old Louisville east and SouthEast out to the Watterson Expressway, encompassing also Audubon Park, Germantown, the Highlands, Shelby Park, Clifton, Crescent Hill and St Matthews – all neighborhoods from Old Louisville East, out to the Watterson within Central Louisville East between the same dates, March 16th – March 26th, there were:

81 new home & condo listings
76 home & condo listings that went under newly pending accepted contract.

We believe that both of those are good signs, that in the thick of all of the news regarding COVID-19, the market remained robust or at least steady in both categories as well as the Greater and Central areas of Louisville, KY

Of course, we will continue to monitor that, as the affects of the virus continue to peak over the next several weeks, if not months.

For Sellers : Seller market – there is still limited inventory & buyers will be driven by need and low interest rates.

Seller Tips: 1. clean inside/outside 2. Complete D.I.Y, do-it-yourself, projects and/or invite/schedule contractors to price out major deferred upgrades so you have the estimates ready for the negotiation stage.

For Buyers: Buyer market – there will still be many “have-to-sell” sellers because of the resulting negative economic circumstances and you can take advantage of historically low rates that should remain to boost the economy.

Buyer Tips: 1. Secure your financing commitment, do your math 2. Get set up online from with a direct feed of properties from the main origination source M.L.S., Multiple Listing Service.

Again, our #1 priority is to be a resource for up to date real information on how to protect yourself and your family and please do so by staying up to date by visiting louisvilleky.gov and CDC.gov.

We will continue to keep you updated on the real estate market.