Let’s compare the June 23, 2013 stats with the June, 24 2012 stats for the Louisville, Elizabethtown, and Southern Indiana real estate markets.
The Months of Inventory is 17.1% lower than this time last year. This is the amount of time it would take to sell all the properties that are currently listed in the area. On June 24, 2012, it would have taken approximately 7.0 months to sell every listed property in the area; on June 23, 2013 it was recorded to only take 5.8 months.
The amount of Unsold Residential Inventory is also down 11.5% from last year. As of June, 23 2013 there were 6,794 residential homes listed for sale in the Greater Louisville area. This time last year there were 7,679. This gives buyers less to choose from and become more competitive with each other to get the home they want.
On average homes are selling for prices 7.7% higher than last year, and it less time – 19 days less than in 2012.
Average Sales Price – 2012: $181,173 vs. 2013: $195,150
Average Days on Market – 2012: 82 days vs. 2013: 63 days
In the Elizabethtown market, the Months of Inventory is actually 1.1% higher than it was in 2012.
2012: 9.3 months vs. 2013: 9.4 months
Unsold Residential Inventory is 4.5% lower, with 1,481 unsold homes on June 24, 2012 and 1,415 properties still listed for sale on June 23, 2013.
Unlike what is being seen in the Greater Louisville area, real estate in Elizabethtown has an Average Sales Price that is 11.6% lower than what is was this time last year. In 2012, properties were selling for an average of $153,496, this year the average price is down to $135,760.
However, similar to the Louisville market, properties are on the market for less time.
Average Days on Market – 2012: 163 days vs. 2013: 143 days
Months of Inventory – 23.9% lower than last year
2012: 8.8 months vs. 2013: 6.7 months
Unsold Residential Inventory – Down 3.9% this year
2012: 2,101 vs. 2013: 2,186
Average Sales Price – Increased 15.0% since 2012
2012: $123,404 vs. 2013: 141,921
Average Days on Market – 1 days less than last year
2012: 116 days vs. 2013 115 days
Data is complied through the GLAR, HKAR, and SIRA MLS systems