Shepherdsville Real Estate Market Report- This report analyzes property sales trends for Shepherdsville homes over the last few months and versus the same time period last year. The report includes number of homes sold, average listing price, average sales price, days on market (DOM), and current inventory.
Despite the fact that Fox Chase, Hebron Estates, Hillview, Hunter's Hollow and Pioneer Village are incorporated, home sales from these areas are generally included with the Shepherdsville home sale data. This month's results are shown in the chart below.
Comments and Analysis
January sales were low by most standards. However, the increase in average price over the last couple of months was a good sign. This indicates that home buyers, beyond investors, closed on Shepherdsville homes in January. Additional good news can be seen with the DOM (Days on Market statistic). A low DOM indicates that sellers who price their Shepherdsville home correctly from the start have a reasonable expectation of getting the house sold.
Note: Don't be alarmed by the huge discrepancy in price from last year. In January 2008, one property sold for $1.5 million. This sales skews the data substantially.
See Also: Bullitt County Real Estate Market Report ~ Jan 09
Three Reasons to Buy a Shepherdsville Home Right Now
- Selection - Fifteen months is well-above the balanced market level (6 months)
- Affordability- Good pricing and historically-low interest rates combine to make home ownership more reasonable than renting.
- Tax Credit -Buyers can get a $7,500 tax credit on the purchase of a Shepherdsville home as long as you haven't owned a home in the last 3 years. Additionally, the Senate has added an amendment to the 2009 Economic Stimulus package that makes a $15000 tax credit available to ALL home buyers in 2009.
See Also: Price Doesn't Matter to Buyers and Create your own Success Story
Three Keys to Selling your Shepherdsville Home Right Now
- Price it correctly the from the start
- Prepare your house for sale before you list it
- Promote your home where buyers can find it
See Also, How to Promote your Shepherdsville Home online
* * * * *
Erik Hitzelberger is a licensed real estate agent with RE/MAX Alliance in Louisville. If you need a Bullitt County Real Estate agent please email me or call 502.921.3989.
I specialize in the following areas of the Metro Louisville Area: Jeffersontown (J-Town), Okolona, Fern Creek, Shepherdsville, Mt Washington, Hillview, Brooks and Pewee Valley. Click the following links to learn more about Louisville and Bullitt County Real Estate or to Search the Metro Louisville MLS.
Nice colors & explanation in your market report Erik. Easy to read & see what the story on the market is. I read a post today about the importance of market updates and I totally agreed. I do do them but need to expand on areas, etc. I usually do my neighborhood and then the total San Antoino. I am going to work on more, the consumer reads them I am sure. KM
Erik excellent work keeping folks in your area up to speed on the market.
Kristin - I also intend on expanding the areas I do market reports for. Once you get a format that you like, the data is easy. However, I believe that you need to add a little insight to make sure customers get the main points.
Bill - Thanks. On a more self-serving note, market reports are also great for SEO. I'm sure you'd agree.
Erik, your NOTE alone makes this worth reading by consumers, since it shows that you have the market knowledge to interpret the data and explain it to them.
Once again these are great numbers Erik. Sharing with the community what the real numbers are and not what you hear from the media. Although the SP/LP numbers are a little lower than you would like, the bottom line is that the prices have still increased. Good luck!
Lisa - Thanks! It is easy to regurgitate data from the MLS. However, the data only becomes information when it is presented accurately. Like you, I try to make sure that those interested in real estate in my area have a solid understanding of the market.
John - You are right. The SP/LP ratio is low for our area (typical is 96-97%). However, after considering the state of the local and national economy coupled with the holiday season, I am not too worried. The market really started to pick up in January before we were slammed by the ice storm. I expect us to get going again soon.
Im with you. Im sure the numbers will turn around and be back to normal. Its just a quick snap shot and like I stated, it looks like all other numbers have increased which is a good sign.