Housing Inventory Shortage Update: Still Jacked Up

Photo by Justin Thomas
Photo by Justin Thomas

I don’t know if it’s the snow, ice, and frigid temperatures, or what, but the housing market in Louisville is still experiencing a serious inventory shortage. Trust me, I understand that there can be a lot of inconveniences that come with selling your home during a snow storm. Nobody wants to clean up before a showing. Then someone tracks salt and ice through your clean living room. Plus, what are you going to do with the kids since JCPS just called off school for the 94th consecutive day? You gotta shovel the sidewalk, put the toys away, and at the end of the day you may or may not have sold your home.

If you’ve experienced what I’m describing then it’s no wonder you’re not stoked to put your house on the market yet. But you also need to know this: If your home looks pretty and is priced right, there’s no reason for it to sit on the market any longer than a week right now. There will be no need to show the home 15 or 20 times. Por exemplo: I am currently working with 3 buyers whom I have been working with for the past 2 months. Today is the first day in almost 3 weeks that something new has popped up on the market for one of my client. My other two clients haven’t looked at anything for 4 weeks! That’s because there’s nothing to see. Now, I want you to imagine that your house is the right house for one these clients of mine.  What do you think they would do if they walked through your home today and it was ready to sell? They would buy it. Buyers that are out there right now are tired of seeing bogus listings that are overpriced and not market-ready. They’re not being picky, they just want a proper house.

**New listings in the last four months have slowed down drastically, yet there is no shortage of people who are actively looking for a home to purchase. There are currently 96 single family homes for sale in the Highlands. I’m using both 40204 and 40205 in my statistics. That’s not a lot of homes for sale between two large Louisville zip codes. Last year at this time there were almost 80 more homes for sale in the Highlands. From October 1st, 2013 until today, the number of homes under contract in the Highlands is down almost 40%, but not because of a buyer shortage. It’s because there are almost 40% fewer homes to choose from.**

If you can’t sell your home until June because of other circumstances, I get it. But I would have to disagree with you if you told me that you’re waiting to sell in June because that’s when the most buyers are around. The buyers are everywhere right now. If your house isn’t ready for them to buy then they will buy the first one that is ready. Why not get it out of the way quickly? I’m not talking about giving your home away. Anyone can price it low and get an offer. I’m talking about a market expert (that’s me), who knows the neighborhoods, and takes the time to perform his due diligence in order to accurately price your home based on recent home sales and current market trends.

If you’re thinking about selling your home this year, but you’re not there yet, I would love to speak with you about the opportunities that are available to sellers right now, and how to get the most out of your home sale.

call. 502.509.9278
email. justin@metrolouisvillemls.net

Wanna see what other homes in your neighborhood are listed for? www.louisvillehomeplace.com

**My statistical nerd paragraph – All statistics came from our local MLS.**


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