Wanted to take a minute and update you on what is happening in the Pewee Valley area regarding Real Estate.
Turns out, not much.
I have charted the number of properties currently on the market, under contract and sold in the past year. It doesn’t take long to see there almost no homes for sale compared to the sales Pewee Valley experienced in the last 12 months. Nationally, different organizations figure the number of months of inventory on the market based on the number of sales in the past year. The current numbers I found nationally are at 5.8 months worth of homes available, which is about where we have been the past few years and considerably lower than where we were between 2008-2012.
I did the same calculation for the Pewee Valley market and there is currently Less than a Month’s worth of homes for sale. Nothing for sale under $200,000, only 2 homes between $200,000-$300,000, No homes between $300,000-$400,000 and only one for sale between $400,000 and $500,000.
.This is terrible news for buyers…
however, it is excellent news for those looking to sell.
It is a classic case of supply and demand. With such low inventory in our area, sellers are able to push their list prices up a bit even compared to just a year ago. For example, I recently listed just a bit above where the historic numbers showed the house should be listed at and we have had 6 showings on the first day and 2 offers, and went under contract above list price.
If you are thinking about selling, now may be a good time to look at the numbers. Spring is just around the corner and there is usually a large influx of new listings that hit the market when school is ending. The timing may be right to get a house sold now, before seasonal competition comes available.
If you want to get an Estimated Home Valuation, you can go to
Just put in your address and give it a click.
From there you can provide your email and I will send a detailed report or if you just provide the address I will drop it in the mail.
You can also just shoot me an email at email@example.com or give me a call 502-807-5648.
|Pewee Valley||Active||Under Contract||Sold Past Year||Sold/Month||Current Month of Inventory|
|Less Than $200,000||0||2||20||1.67||0.0|
|More Than $500,000||7||0||3||0.25||28.0|