Highlands Real Estate Report First Quarter 2014

I don’t want to inundate you with statistics or a bunch of real estate information that doesn’t matter. Instead I would like to give you a snapshot of what is happening in the Highlands with regards to real estate.

First, inventory is still very low in the 40204 and 40205 zip codes.
~Currently for sale: 106 homes
~For sale last year: 146 homes

You can also note the inventory shortage by how quickly new listings are disappearing from the market.
~Of the 69  Highlands homes that are currently pending, 30 of them were sold in 10 or fewer days!
~Of the 96 Highlands homes that have sold since the beginning of the year, more than 50 of them were sold in less than a month.

What does this mean for buyers?

Well, it means that there is a lot of competition out there for buyers. As the Spring progresses toward the Summer, the competition will only increase. We are seeing multiple offers on listings every week. There are a lot of buyers out there because interest rates are still favorable. So if you’re ready to buy, and you see a house that fits, BUY IT… or someone else will.

What does this mean for sellers?

If you’re planning to sell your Highlands home this year, there is no time like RIGHT NOW! You have a chance to get moving and to do it quickly using the already existing large pool of buyers. If your home is pretty and it’s priced correctly, it shouldn’t sit on the market for longer than 14 days right now. Would you not want multiple offers on your home so that you could pick the offer you want to accept instead of being forced to take an offer just because it’s the only one?

How do we take advantage?

CherokeeHouseSpringAs a buyer, get pre-approved in order to find out exactly what you qualify for, and how much money you will need to put down. With a pre-approval you will be prepared, and ready to offer on a home the moment you see it, reducing the risk of losing the home to another buyer. Then you can call me and I will start looking for your next home!

As a seller, you will want to know what needs to be done in order to get your home ready to sell, and then you will want it to be priced accordingly. Call or email me and I will be happy to do these things for you. If the numbers make sense to you, then I will list your home for sale and market it for the world to see. If the numbers don’t make sense for you to sell, then I can put you on a quarterly home value update where I will show you the market activity for your neighborhood each quarter. Then you will be able to decide when might be the best time to list your home. Either way, I am here to help.

justin@metrolouisvillemls.net – 502-509-9278

Check out all Louisville Homes for Sale at www.louisvillehomeplace.com



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