Selling Your Home

2013 Year-to-date Housing Boom in Louisville

YTD Housing Market in Louisville, Ky.

2013 has been a year to remember for Buyers and Sellers of homes in Louisville, Kentucky. The early 2000s were boom years for the Louisville housing market (including all the surrounding counties which make up the Greater Louisville Association of Realtors -- Oldham, Spencer, Shelby, Bullitt and others) , with closings peaking at 7,503 in 2007 for the period January through June.  After the "crash" in 2008, sales for the same six-month period fell to  4,847 in 2009 -- down roughly 35%.  Every Realtor remembers that period, as do Sellers who were trying to sell their homes in a market which had largely evaporated! The next few years were tough for home sellers, as reduced demand had depressed prices of those homes purchased during the "hot" years of 2005-2008.  It was even a tough time for Buyers, as they knew that homes would be around for a long time ad there was little incentive to make a decision!

Things are looking much better in 2013, with home sales for the first half of the year up to 6,823 -- only about 700 short of the "easy money" days of 2007.  Average selling price the first half of this year was just under $174,000, exceeding 2007 prices for the first time.

Another good indicator of housing market "health" is the average days it takes for a home to sell after it's listed -- we call it "average days on market".  This indicator hovered around 90 for most of 2009-2012, but was down to 74 for the first half of 2013!  So, homes are selling about 15 days faster than they have for the past few years.

New home construction virtually stopped in the latter part of 2008, as banks withheld credit to homebuilders already saddled with more "inventory" than they could sell.  However, 2012 and 2013 have seen a huge increase in new home starts -- you may have seen a lot of new construction going on, which is a big change from the past...

Energy-Saving Tips for the Home

When it comes to energy efficiency, look for smart features and expertise to help you save energy and money and add value to your home.

1. Begin with a Right-Sized Home.

If the home you buy is simply too large for you or your family’s needs or plans, you stand a good chance of wasting energy through excessive heating and cooling costs. If it’s too small, you’ll feel cramped and uncomfortable. It’s a big investment, so seek balance and buy it “right” from the outset. 

2. Purchase Energy Star Appliances Such as Your TV, Dishwasher, Washer and Dryer, and Microwave.

And especially the refrigerator, as it alone contributes about 10 percent of the energy use in a home. Also, unplug electronics not in use or turn off power strips to avoid phantom charges. 

3. Install Efficient Lighting Such as Compact Flourescent (CLF) or LED Bulbs in Every Fixture.

Lighting accounts for about 6 percent of an energy bill each year.

4. Get an Energy Audit and Have Tests Performed to Identify Ways of Improving Your Efficiency.

You can always upgrade your heating, ventilation, and air conditioning (HVAC) system as well as your  thermal envelope, which includes insulation, windows, and doors  and the seals or weather stripping around them. Click here for more energy-saving tips.

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