REAL ESTATE MARKET UPDATE | LOUISVILLE KY | 2nd Quarter 2020 vs. 2nd Quarter 2019

REAL ESTATE MARKET UPDATE | LOUISVILLE KY | 2nd Quarter 2020 vs. 2nd Quarter 2019

Welcome to the Louisville, KY Real Estate Market Update.

Louisville KY Metro/ Jefferson County, Kentucky real estate market activity, for the 2nd Quarter, 2020, in comparison to 2nd Quarter, 2019.

We are exactly at the halfway point of the 3 month period traditionally thought of as the Summer season, and just 2 weeks past the midway point of the year and the 2nd of the 2nd Quarter of 2020.

The 2nd Quarter also marks the 1st economic Quarter Louisville, KY has fully spent under COVID restrictions — All of this makes this an important time to review.

Today we’re going to be looking at Louisville KY Metro/ Jefferson County, Kentucky real estate market activity, for Q2 2020 in comparison, year over year, Q 2 2019.

According to Greater Louisville FLEX MLS, the marketplace for Greater
Louisville, KY Single Family homes, in the 2nd Quarter of 2020.

  1. The Number of Active Single Family Homes available DECREASED
    by 15%, year over year Q2 2020 compared to Q2 2019 w/ 5,114 coming
    available in Q2 2020, compared to 6,017 homes which came available in
    Q2 2019
  2. The Number of Pending Single Family homes to go under newly
    accepted contract INCREASED by 10% year over year Q2 2020
    compared to Q2 2019 w/ 3,403 Single Family homes under new contract,
    pending close in Q2 2020 compared to 3,096 under new contract,
    pending close in Q2 2019.
  3. The Number of SOLD Single Family Homes in Louisville Metro/
    Jefferson County, KY Decreased by 10% year over year Q2 2020
    compared to Q2 2019 with 2,668 Closed Home sales in Q2 2020,
    compared to 2,959 Closed Home sales in Q2 2019.
  4. The Average Sales Price Increased by 3% year over year Q2 2020
    compared to Q2 2019 with an average Sold price of $248,402 in Q22020
    2020 and an average Sold price of $241,682 in Q2 2019.
    .
  5. The record high, top Sold price for Q2 2020 was $2,630,000 at 12
    Overbrook Rd That record High, Top Sales price was UP 7% Compared to the record
    high Sold price for Q2 2019 when 5807 Harrods Glen Dr Sold for $2,450,000.

In the coming months, it’s important to watch both what Interest rates
do, as well as how employment holds up, what additional government
stimulus is rolled out, along with available supply of real estate, as the
real pressure in the market has come from low inventory levels:

Solds were down 10% in Q2 2020 compared to Q2 last year, but housing
inventory hitting the market was down 15%.

Interesting to see if those trends continue.

If you’re buying or selling real estate, it’s important to seek the guidance
and advice of a professional.

For a specific valuation of your home or advice specific to your scenario,
please call us @ 502-634-8001 or message us via this website.

Thanks for tuning in, we’ll see you in the next real estate market update.