As 2015 comes to a close, I find that I am sitting in front of my computer updating several blogs. Maybe this is something that I should address for my 2016 resolutions!
In this particular blog post, I have chosen to look at the overall Louisville market, and how long homes are taking to sell or leave the market, and then compare that number with how long the most expensive 25% of Louisville homes are taking to sell.
Not surprisingly, the more expensive homes take longer, according to this graph, almost a full month more, maybe even a month and a half. I guess that doesn’t come as too much of a surprise, there simply aren’t as many eligible buyers the higher the price of the home, so it takes longer to find one for each individual expensive property.
What I did find interesting is that the two groups of homes follow the same exact seasonality, with the same ups and downs as the year churns along. It seems no matter how much the house costs, it is likely to take longer to sell in March and April than it will in October.
Of course, that all depends upon which specific neighborhood you live in, how nicely you’ve kept your house up and what else is for sale in your area, but there averages are clear.
Something to keep in mind as we get ready for another year of real estate news in Louisville!