Looking for a new home? Finding one right now may be tough

Published: Jun. 29, 2020 at 6:11 PM EDT
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LOUISVILLE, Ky. (WAVE) - Driving around Louisville’s neighborhoods right now, you may notice something is missing.

There are fewer for-sale signs. There aren’t too many houses for sale right now in the Louisville area, and the ones that are available are going fast.

Connie and David Lee decided to sell their Lake Forest condo on June 13.

"We were just hoping it would sell by end of summer," Connie Lee said.

The Lees barely had time to put a sign in their yard; they got two offers within two days.

“It was $6,000 above what we had asked for,” Connie Lee said. “We were happy about that!”

It is definitely a sellers’ market right now if your home is between the $100,000- $350,000 price range, said Bob Sokoler, who owns the Sokoler Medley Team at RE/MAX Properties East. Sokoler said normally around this time of year, there are anywhere between 4,000 and 6,000 homes on the market in the area. But, right now there aren’t nearly as many.

“As of (Monday), we had 1,961 homes on the market,” Sokoler said. “What this indicates is that there are so many buyers out there, as a home comes on the market, we’re seeing multiple offers.”

Sokoler said when COVID-19 hit the area, the housing market slowed down dramatically, but in recent weeks things have been moving quickly. Buyers are making decisions based off of virtual tours and often offering above asking price.

”We are shocked, but also concerned because we don’t have enough homes for the number of buyers who are in the marketplace right now,” Sokoler said. Sokoler said the hot spots in the area have been St. Matthews, the Highlands, and Oldham County, but people are venturing into other areas in Louisville and beyond.

”Buyers who can’t find a home in the Louisville area are going in Southern Indiana as an alternative because there are more homes that are there for sale,” Sokoler said. “They just have to deal with the bridge and tolls. That may become more acceptable than we’ve seen in the past.”

Real estate agents are making sure that when people are going into homes, they are following CDC protocols, wearing masks, wearing shoe coverings, and using sanitizer.

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