Our real estate market is still on fire. Here are the latest details.
For your September real estate market update, I’m visiting a special restaurant here in Louisville that opened about six or seven weeks ago: Matt Winn’s Steakhouse. What makes this place special? We’ll dive into that, but first, let’s take a look at what’s happening in our Louisville/Southern Indiana area.
As I’ve mentioned in previous updates, our market is on fire. Year to date, the number of homes sold is pretty even with where we were in 2019. However, the number of active listings is down 11.5%. Just last month, the discrepancy was even higher (-12.1%). As you can see on the two graphs at 1:11 in the video, we’re seeing the same trend nationwide. When you add in the fact that mortgage rates are at all-time lows and projected to stay that way throughout the rest of the year and into 2021, you have the perfect storm for a buyer frenzy. There aren’t enough homes on the market, and people are looking to buy anything that’s listed.
According to Black Knight Inc./ Mortgage News Daily, “Those shopping for a home can afford 10% more home than they could have one year ago while keeping their monthly payment unchanged. This translates into $32,000 more buying power.”
The bottom line is: The forecast for the immediate future is spectacular for buyers and sellers.
Now, as you can see in the video, what makes Matt Winn’s Steakhouse special is that it’s located on-site at Churchill Downs. The food is spectacular and the atmosphere is as elegant as you’d expect from a place that used to be a dining room known as “Millionaire’s Row.” The staff has set up their own golf cart transportation service to bring guests from the Churchill Downs parking lot to their doorstep.
As you’d expect, their bourbon selection is quite extensive and their menu is impressive. They even offer a rolling seafood bar! I recommend the kung pao calamari as an appetizer, and as far as the main course goes, just know that their steaks cut like butter. Much like the seafood cart, they also offer a rolling desert cart with all of your favorite delicatessens.
If you’d like to know more about my experience at Matt Winn’s Steakhouse or have any questions regarding our Louisville/Southern Indiana market, don’t hesitate to give me a call or send me an email. I’d love to speak with you.