Whether you are in the Highlands or just about anywhere else in Louisville or the United States, there aren’t many homes for sale. When there aren’t many homes for sale and the demand is still there, prices go up. When prices go up and inventory is low, the mortgage rates go up…and they have. Mortgage rates have actually jumped at least one percentage point in the last month and there is no indication that they will be going back down. Of course, a 4.5% rate on your mortgage is still a really good rate, but you could have locked it in at 3.5% three weeks ago. People are freaking out and trying to get something done quickly before the rates go any higher. Buyers can still get a good deal, sellers are realizing profits from selling their home, and if your house looks nice and it’s priced right, it’s sold in a day or two. This is an incredibly unique market right now and anyone thinking about selling this year needs to take advantage of it. Ask me how to sell your home in a couple of days without giving it away. I can do it. If you’re a buyer in this market, you’ve never needed a Realtor more in your life. You have to have someone staring at the market all day long in order to jump on a home as soon as it hits the market. Ask me how to receive special MLS property updates. Not sure what you qualify for? Get pre-approved for a mortgage.
Below is a graph that shows sales and inventory history for the Highlands. Pretty intense.