In all but one area in this month’s survey, home sales during April could not match the previous year. In some, the drop was quite large.
Typically, this would mean we should see price moving higher, especially with our low house inventory levels, but that’s not the case. We’re just four months into the year, but I don’t like what I’m seeing. There was hope that 2014 would match or exceed the home sales totals of 2013 but that’s simply not the case. We could blame lagging sales on the extreme Winter weather but not that excuse is gone.
With the weather greatly improved, it’ll be interesting to see if Louisville real estate in May can pick up some of April’s slack.
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Louisville Real Estate Reports (period ending April 2014)
Slowing sales is a bit of a problem for this once hot Louisville area, with 2 fewer homes selling during April than in March. That’s 15 fewer than April of last year! Prices are trending higher even though they were down for the month.
This area did improve markedly over the previous month with 140 homes selling in April. But the bad news is that it was still 15 properties behind last year’s April. Values here dipped but the trend is still moving higher.
123 homes sold in Area 7 during April, up from just 112 in March but lagging behind the previous year’s big total of 157. Home prices here are largely running horizontally with only a slight gain over the previous year.
Like most of Louisville, home sales here improved over the previous month but couldn’t match the same month of the previous year. Home prices here are improving even if just slightly with the median home sale price of $248,750 for the month.