Real Estate Market

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For Sale: $465,000

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Market Trends

U.S. Market Data Review

Note: October data below is the most recent published by the National Association of Realtors®.

Data from the National Association of Realtors® (NAR) shows sales of existing homes grew in October to the briskest pace since early summer, but an ongoing lack of supply resulted in fewer closings for a second straight month.

Nationally, total sales of existing homes (counts completed transactions for single-family homes, townhomes, condominiums and co-ops) bumped up 2.0% to 5.48 million in October from 5.37 million in September. Despite the uptick in velocity, sales remain 0.9% lower than one year ago.

 Existing Home Sales By Region
NAR's chief economist, Lawrence Yun, indicated that October's sales activity picked up for the second consecutive month, with increases across all four major regions. "Job growth in most of the country continues to carry on at a robust level and is starting to slowly push up wages, which is in turn giving households added assurance that now is a good time to buy a home" Yun said. He added that "While the housing market gained a little more momentum last month, sales are still below year ago levels because low inventory is limiting choices for prospective buyers and keeping price growth elevated."

Housing Data Takeaways

  • The median existing-home price (all housing types) in October was $247,000, up 5.5% from October 2016 ($234,100). October's price increase marks 68th months in a row of year-over-year gains.
     
  • On average U.S. properties stayed on the market for 34 days in October, unchanged from September and down from 41 days a year ago. Forty-seven percent of homes sold in October were on the market for less than a month.
     
  • Mortgage data from Freddie Mac shows the average commitment rate for a 30-year, conventional, fixed-rate mortgage rose to 3.90% in October  from 3.81% in September. For all of 2016, the average commitment rate was 3.65%.
     
  • Nationally, first-time buyers drove 32% of October's sales, up from 29% in September but a drop from 33% one year ago.

Ready for Winter?

Winter is one of our favorite times of the year! It's often easy to overlook your home's needs with so many activities happening. Here is a simple checklist of items that can save you money through the winter:

  • Check for leaks and drafts around the house. Replace weather stripping and re-caulk around doors and windows. Drafty doors and windows will cool off the house and cost you money in heating bills.
  • Inspect your attic's insulation. Heat rises so adding good insulation can keep the heat from escaping.
  • Check your heating system. Sometimes something as easy as replacing your filter or having simple maintenance done can save on heating costs.
  • Consider changing from standard light bulbs to energy saving bulbs. Winter uses a lot of your electricity so even saving a little here and there will help.

Whether you live in a warm or cold climate, take this opportunity to inspect your home systems. You'll be money ahead in the long run!

Relieve Holiday Stress With a Relaxing Hike in Hardin County

Looking for a great way to unwind during the holidays? If you plan on buying a home in Hardin County or live here already and you love a good hike, then you’re in the right place.  One of the great things about Hardin County is that it has a great selection of hiking trails let you get take in the beauty of the area while you get a good workout. You can even see some of the history of the area while you breathe in the fresh Kentucky air.  Here are some of the best places to hike in Hardin County.

Vernon Douglas State Nature Preserve

For a more rugged hike in a beautifully forested part of the county, this trail system offers an ideal escape from the cares of life.  There’s also plenty of animals and birds to meet along the way.  You can take a spur trail to the paint known as "the pinnacle” to give you a panoramic view of the Younger Creek valley.

Saunders Springs Nature Preserve

Hike into the past in this heavily wooded area that features 3 rustic cabins from the 1800s, located on the edge of the Karst Plateau. You’ll get a good workout on this steep hike with a 200 ft elevation change in 26 acres and 11 named trails.

Freeman Lake East Trailhead

The largest city park in Elizabethtown features 7 miles of walking trails around its scenic lake, where you can also enjoy fishing and boating.

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All About Homes Realty
All About Homes Realty
2075 Bypass Rd, Ste 3A
Brandenburg KY 40108
270-422-4687
270-668-5328
Fax: 270-592-0002