Louisville Home Sales Rise in October

The Greater Louisville Association of Realtors reported that its members sold 1210 Louisville homes last October, which represented the fourth consecutive month of gains over 2008 year-over-year. President of the local realty group, Linda Gibson Cecil, called the sales figures “very encouraging.” Until this past July, monthly home sales in the Louisville real estate market has posted steady declines for almost two years.

“It gives you hope that this is not an anomaly, that this is actually a trend,” Cecil said.

She said that the Louisville real estate market continued to enjoy a boost from the federal government’s $8,000 first-time homebuyer tax credit that helped the sale of Louisville homes, especially in the $90,000-$125,000 sales range. She went on to say that a surge of Louisville homes for sale went under contract in the middle of October, a clear indication that prospective homeowners were trying to get their deal closed before the tax credit program expired. The tax credit program was initially set to expire on Dec. 1, but it has been extended to June 2010 and has been amended to include a $6,500 tax credit for current homeowners who wish to sell their home and buy another. Homebuyers have until April 30 to get a home under contract and have until June 30 to close the transaction.

October represented the second-busiest month for Louisville real estate professionals, having sold 1276 homes last July. Another positive trend for Louisville real estate was a modest rise in median sales prices. In October, the median sales price was up slightly to $133,500, up from $130,000 the previous October.

Thinking about taking advantage of the homeowner’s tax credit before it expires? Call 502.744.9505 today and talk to the Louisville real estate professionals at Louisville Properties. No one has a better selection of Louisville real estate of all kinds from which to choose.

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James Powell

Jim Powell has over 20 years of experience buying and selling luxury real estate in Louisville, KY and Managing over hundreds or rental properties across the city.
Jim Powell (License #191501)

Lauren Ghanavatian

Lauren Ghanavatian attended Assumption High School and the University of Louisville. Growing up in Louisville gave her a sense of the unique and diverse communities this city has to offer.

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Louisville Properties is a full service Louisville Real Estate Company for buyers and sellers of real estate. We offer the following services
3418 Frankfort Ave #100 Louisville, KY 40207 Louisville, KY 40207
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Phone: 1-502-744-9504

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