Louisville on Track for Record Year in Home Sales

There’s no summer slowdown when it comes to people buying homes here in Louisville!

According to a recent report in Insider Louisville, July home sales were strong with 1,154 transactions — putting us on track for a record year. 2016 set a new mark for total home sales, with 12,253 properties sold. The first half of this year has already resulted in 5,952 homes selling — up almost 2{459c3f97d3807641e44bb01632b2f91916cef314d016c0f749c2f3d2b32b4e27} from last year. And as we shared on this blog recently, the Louisville housing market is currently ranked among the top 20 best markets in the U.S.  

There’s more good news for homeowners.

Not only are home sales rising, so are home values. According to the Insider report, the “trend-line mark for July 2016 was $154,936. Fast-forward 12 months, and this value is now $166,887. That’s good for a 7.71 percent gain. For a city that typically realizes 4 percent annual appreciation on our homes, this year’s gain is quite amazing. Home ownership is currently paying off … big time.” 

The Insider report also noted that move-in ready homes are especially “flying off the shelves.” We’re not surprised. These homes offer a very attractive option for buyers today, providing a unique opportunity to close rapidly. Consequently, they are an increasingly popular choice — especially for first-time buyers, those who don’t have to worry about selling an existing home, and buyers who have recently sold their old home. At Elite Homes, we have an excellent selection and variety of “Showcase Homes” that are move-in ready. Check out our inventory here. 

As homes are selling quickly, prices are moving higher. That’s a typical pattern in the cyclical housing market — and it means that now is the perfect time to buy before prices go higher. A hot housing market can also lead to depleted housing inventory. Some reports say that’s happening in our market, but it’s not an issue among our Elite Homes communities. We have plenty of homes available right now with nine communities in East Louisville, including a variety of home choices for all types of buyers.

Find your perfect home on our website or visit one of our neighborhoods and take a tour through our gorgeous models. We would love to show you around and show you how easy it is to buy your new home here! 

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