Happy New Year ­ the dog days may be behind us!

According to a new report from the National Association of Realtors (NAR), nationally homes going under contract for November 2010 increased 3.5% in November. That confirms we’re seeing a gradual recovery that should continue into 2011. Lawrence Yun, NAR chief economist says  “If we add 2 million jobs as expected in 2011, and mortgage rates rise only moderately, we should see existing-home sales rise to a higher, sustainable volume.

Locally Louisville Home prices are a mixed bag of results. A new Federal Reserve report shows Louisville housing prices have actually notched up .46 percent in many areas. That’s great news when compared to other cities in states like Florida, California and Arizona where housing prices are still falling.

Looking back at December 2010, the final Louisville Home Sales numbers are still several days away but the trends (on the surface at least) are disappointing.  With several days of closings still unrecorded (because of the extended holiday weekend) Home sales from December 2010 compared to December 2009 were down about 13 percent. That should improve as closing for late Thursday afternoon and Friday are recorded on Monday.

We hope you enjoy our blogs we love creating them for you! For more information about Louisville Real Estate or to buy or sell a Louisville Home visit our websites: http://weselllouisville.com,http://www.louisvillehomestoday.com/ and http://www.buylouisvillerealestate.com/

 

The number of homes sold in 2010 will be just about equal to 2009. Both years were influenced by first time buyer tax credits and move up tax credits. 2011 will be the first year in several without tax credits offered by the government. Additionally all Louisville builders will be sorry to see the state of Kentucky’s new home tax credit expire. According to a new report in the Courier Journal “About 2,400 Kentuckians have been approved to claim $5,000 off their state income tax bill for buying a newly constructed home in the last year and a half”.

As for 2011 we think it’s going to be a good year to buy and even sell Louisville Real Estate. Look at our video to see what we’re planning to do for our listings in 2011.

 

December 2010

 

 

Number of Houses Under Contract This month: 711 Last month: 843 This month last year: 0

Number of Houses Sold & Closed This month: 847 Last month: 772 This month last year: 0

 

December 2009

 

Average Selling Price This month: $172,640 Last month: $173,166 This month last year: $0

Average Days on Market This month: 86 Last month: 82 This month last year: 0

Median Sales Price 142,500

 

Number of Houses Under Contract This month: 735 Last month: 802 This month last year: 0

Number of Houses Sold & Closed This month: 972 Last month: 1109 This month last year: 0

Average Selling Price This month: $150,486 Last month: $158,273 This month last year: $0

Average Days on Market This month: 83 Last month: 83