The Hollinden Team Louisville KY Real Estate Blog

Patio Home Absorption Rate in Louisville KY
Posted by Steve Dobbs on Thursday, November 17, 2011 at 2:43 PM By Steve Dobbs / November 17, 2011 Comment

This morning I had discussion with a client moving from Minnesota with the Ford Relocation to Louisville KY.  She asked me about how well Patio Homes in our Louisville Market were moving.  I gave her some generalities over the phone and then decided to dig up a few numbers.

I know that closed home sales and new listings are up this year over last in the entire Louisville MLS.  But, has the absorption rate changed?  I used closed home sales in the August through October time frames for my calculations. 

In Jefferson County, we sold 1765 homes in this 3 month time frame for an average of 588 home sales per month.  We currently have 5101 homes in the Louisville MLS inventory.  By doing the math, we calculate that we have an 8.67 month supply of homes if no more come on the market.

In the group of condos and patio homes, we sold 253 in the same time period or 84 per month.  With a supply of 1282, this gives us a 15.2 month supply...

Luxury home short sale in Louisville KY
Posted by Steve Dobbs on Thursday, November 10, 2011 at 5:09 PM By Steve Dobbs / November 10, 2011 Comment

The Hollinden Team had the pleasure of bringing a buyer to a short sale in the Locust Creek area of Louisville KY.  This home sold for $1.2 million in 2004 and was extremely well appointed.  Every luxury item that you could imagine was there and then some more. The Millwork was very extensive and very well done.  Interior doors were 8’ tall. As you would expect, the kitchen was a chef’s delight.  There was a separate work preparation island with a 3.5 inch butcher block counter. The basement was very well done and included a theater room and killer bar.

The listing agent was excellent and did a great job in negotiating with the bank and working with their sellers. ...