The condominium and Patio homes market heats up...
Posted Jun 19, 2007 @ 6:45 pm, Viewed by 746 Visitors, Read 761 Times.
Why are condominiums and patio homes remaining strong in today's real estate market? In my opinion, it goes back to the basics of supply and demand. While home sales are strong in Louisville, the inventory levels keep rising...meaning that there is an inevitable reckoning coming where the two must meet up again.
So I started researching at our local board of REALTOR for which segments of the market had the lowest inventory / sales ratios. Condominiums and patio homes in Louisville and particularly in the East End of Louisville had the most demand and the least supply!
if you have a condo to sell, this still means marketing, but it is an encouraging thing to see these market levels more in balance than the rest of the market.
So I started researching at our local board of REALTOR for which segments of the market had the lowest inventory / sales ratios. Condominiums and patio homes in Louisville and particularly in the East End of Louisville had the most demand and the least supply!
if you have a condo to sell, this still means marketing, but it is an encouraging thing to see these market levels more in balance than the rest of the market.
Eric Blackwell
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Louisville Real Estate | Southern Indiana Real Estate
RE/MAX Properties East
Southern Indiana Search Marketing / EriconSearch
My Local Search Engine Marketing Blog
Insider News and Opinion from the Real Estate Industry
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Eric Blackwell is Director of Technology for RE/MAX Properties East. He helps REALTORS reach and assist their clients using Technology and he is the Webmaster of www.HomesinLouisville.com.
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Eric - We see the same thing here in East Tennessee. More and more people are wanting condos, especially for investments (overnight rental). This demand started about 2 years ago and now we have about 6 major developments underway that are very nice luxury condos in the heart of Pigeon Forge and Gatlinburg. Slightly different market scope, same demand.