Louisville Inventory Update [Analyze This]
by Osman Parvez
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Here’s an update on inventory conditions in Louisville.
The red line is the total inventory in Louisville. The dark blue line is the percentage of inventory under contract. The chart goes back to June.
The chart shows that the total number of available houses peaked during the summer at nearly 70 properties. Beginning in late September, it dropped to below 50, a fairy typical seasonal pattern. The real story is that the percentage under contract dropped markedly and has been on a downward trend since June, from a shockingly high 82% at the beginning of summer to about 50% now.
Note: I’m currently seeking an investment property in Louisville. Although it made our list of properties worth looking at last week, I passed on 715 W Lois Ct. Great house, great location, and we were considering offering in the neighborhood of +10% (and waived contingencies). Had the house been a mile or two closer to downtown, we would have stayed at the bidding table.
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The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties. We strongly recommend conducting rigorous due diligence and obtaining professional advice before buying or selling real estate.
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We can highly recommend Sophie. Her attention to detail and communication skills are great. Our home was in area that most realtors are not familiar with, but Sophie took extra time to get to know the neighborhood in order to give us quality service. She also brought in a professional photographer to make our home look its best. Even though the listing was in winter, the house sold quickly. With Sophie’s business and people skills, we have no doubt she will be a top realtor in the area.
Osman was a refreshingly honest realtor. He stressed through the entire process that his goal was to make me happy with my home purchase. I greatly appreciated the fact that he never shied away from pointing out the negatives as well as the pluses of different places while leaving the final decision up to me.
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More about the author
Osman Parvez
Owner & Broker at House Einstein as well as primary author of the House Einstein blog with over 1,200 published articles about Boulder real estate. His work has appeared in the Wall Street Journal and Daily Camera.
Osman is the primary author of the House Einstein blog with over 1,200 published articles about Boulder real estate. His work has also appeared in many other blogs about Boulder as well as mainstream newspapers, including the Wall Street Journal and Daily Camera. Learn more about Osman.
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