Let’s dive right into the 2023 real estate market around the Greater Louisville Area, where numbers tell stories and trends shape decisions going into 2024. We’ll sift through the 2022 data, compare it to the twists of 2023, and empower you with the insights you need on your real estate journey.
Oldham County: A Home’s Story in Numbers
Oldham County’s 2023 numbers paint a picture – sales took a dip by 14.6%, and houses stayed on the market a bit longer, as they did across the country. But in the midst of it, the average sold price around Oldham County (which includes cities like Crestwood, LaGrange, Pewee Valley, Goshen, Buckner, Prospect) stood strong, showing a 2.6% increase.
Jefferson County: Finding Stability in the Mix
In Jefferson County (Louisville), the market had its own rhythm. Sales dropped by 17.2%, but here’s the good news – the time it took to sell a home stayed steady at 26 days. The average sold price also went up by 2.8%, showing the enduring appeal of the largest city in Kentucky.
Greater Louisville Association of Realtors (GLAR): The Major Market
The entire MLS around the Greater Louisville Area saw change in 2023 – a 15.9% decrease in sales, longer days on market, but also a resilient average sold price that went up by 3.9%. I’m here to guide you through these changes and help you see beyond the numbers. These numbers of course depend on specific situations, but give us an idea of what’s ahead.
Looking Ahead to 2024: Your Real Estate Journey Unfolds
Now, let’s peek into 2024 on a national scale. The coming year brings both promises and uncertainties, and I’m here to navigate it with you. Projections are showing one of the largest pool of buyers (millennials) entering the market due to last year being a record low in transactions. This, along with an expected cooling (and most likely lowering) of mortgage rates, could make it an interesting journey for everyone involved. In fact, rates have already dropped well below their peak last Fall of 8+%, as of 1/24. We may even see them under 6% later this year.
Your Real Estate Adventure Continues
As we wrap up this journey through Greater Louisville’s real estate tapestry, see me as more than just a source of information – consider me your personal market expert. The adventure doesn’t stop with these numbers; it evolves with every choice you make. Whether you’re buying, selling, or just staying informed, I’m here to guide you through the twists and turns of the market. Your real estate story is yours to write, and I’m privileged to be a part of it. Contact me today for a personal look at your situation!
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