Louisville Real Estate Market Update June 2009

With the recent kudos from Money magazine, this seems like a great time to give you the latest statistics on Louisville real estate It will be very interesting to see the effect of yet another big thumbs up on our area that’s already shown high demand on a consistent basis.

If you’re interested in Louisville real estate for sale, markets and trends, checking out these updates is another perfect way to watch on what’s going on in the real estate market in our area, and what we might expect in the coming months.

I’ve continued the approach you asked for a few months ago, and so I am giving you the data for  2008 sold home for comparison.

Ready now to talk about selling your home, buying a new home, or know someone that is moving? Call, text, or email me today!

This could be an excellent time to make that move given the very stable marketplace we have in Boulder county, and especially given the high demand and national attention Louisville recently received.

Louisville Sold Single Family Homes (parenthetic data is 2008):

Number Sold: 32 (27)

Average Price: $379,181  (399,885)

Median Price: $369,900 (337,000)

Average Days On Market: 84 (57)

To me this is another example of a pretty stable market. We can see a decent uptick in the number of homes sold in Louisville compared to June last year, and while the average days on market is quite a bit higher, average price is down a bit, but median price is up significantly.

Louisville Sold Condos (parenthetic data is 2008):

Number Sold: 8 (4)

Average Price: $180,845 (183,625)

Median Price: $182,000 (169,000)

Average Days On Market: 55 (49)

Wow! So the number of sold units is up by 100%, the median price is up strongly and average days on the market for sold condos is up just slightly. With 39 units for sale, we’re looking at an absorption rate of about five months. That’s pretty much an ‘even’ or ‘stable’ market. The trouble I see is that the average and median prices of ‘for sale’ condos is too high; with both of those numbers over $200,000 I’m not surprised to see the average days on market for condos still for sale at almost 100 days. Get the prices right on the ‘for sale’ condos, and it looks like they’ll sell in reasonable time.

There’s a couple other thoughts for those of you dedicated enough to read this far. I’m still perplexed by the  sellers who post homes for sale with no photos. I’m a firm believer in implementing all the tools to get a home sold, but some disagree. Could it be that having no photos is maybe one of the reasons why the condo on Cottonwood is still for sale after 120 days?

What about a video tour? Have you seen the video tours I have for you? Whether it’s vacant land for sale, neighborhood profiles, or Boulder county business profiles, I strive every day to give you the useful information and critical support you need to make an informed decision.

Thinking of buying or selling? Call, Text, or Email me.

And by the way, I’m never too busy for your referrals, as a real estate professional intent on giving back to the community, my relationship-based career is exactly what you’ve been looking for.

So you may not be moving, but if you know someone who is, I’d love to hear from you. Call, Text, or Email me anytime.

Zachary Epps, full-time professional Realtor® and EcoBroker® at RE/MAX Alliance Boulder

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