Two Year Review St Matthews Homes For Sale In Louisville, Ky For January 2011-9c8950

UnCategorized Recently, I tackled the job of reviewing the local real estate market for the Highlands part of Louisville. Today, I turn my attention to the St Matthews area, defined by zip code 40207. Oh yeah, I’m only looking at single family homes that are currently for sale, no condos, farms and properties along those lines. The first stat I want to look at, and the first one I am usually asked about, is price. Remember, since these are homes that are for sale right now, these would be asking prices, not a final sales price for homes in St Matthews. If you have read any of my past articles about St Matthews homes in Louisville, you would know that at the end of last year, there was a very large spike in the data, with the numbers shooting up to unexpected levels. Even at the time, I said that I thought that was a bit of an anomaly, and I still stand by that statement. If you are lucky enough to look at a two year graph of this data, you could clearly see the spike I am referencing. My belief is that surge was caused by the lower priced homes leaving the market, due to sales, leaving only higher priced homes available, which would then raise the overall median price. But lets look even further back, starting in the beginning of 2009. Weekly data points were tracking at a median asking price of $300,000 for homes in 40207. Today, that same measurement has dropped to $280,000. Obviously, this is not the direction home owners wish to see prices traveling, but I’m afraid that’s not the only statistic traveling in the wrong direction. Looking at inventory levels next, we will see the same story, but in reverse, I suppose. By reverse, I mean that as prices have been dropping, which is bad for sellers, inventory has been growing, which is also bad. The good news, if you really look closely at the chart above, is that the last few weeks have really seen a good sized reduction in the number of homes available for sale, dropping by about 20%! However, even with that substantial drop, there are still more homes available today than in January of either 2010 or 2009. So far I have illustrated that prices are dropping and inventory is growing for Louisville St Matthews homes for sale, over the course of the past two years. The last set of data that I want to look at is how long those homes are staying on the market. Given what we have seen so far, I wouldn’t expect any good news. If you took my advice, and weren’t expecting any good news, then you won’t be too disappointed with this graph! Homes are now taking much longer to leave the market today than they were two years ago, with a comparison of 90 days in January of 2009 and 190 days today, over a 100% increase. The only good news I can give you on this front is that it doesn’t appear that homes are taking any longer to sell today than they were this time last year. Still pathetic, but that’s the best that I can do. There you go, a quick two year wrap up of the Louisville St Matthews real estate market. Dropping prices, rising inventory and high market times. Sales are still happening, just not as many and not as quickly. If you are interested in selling, make sure you have the most advanced and effective marketing plan for your property to guarantee that your home gets viewed before the competition. About the Author: and data analysis of Louisville homes for sale, visit ..GregFly.. where Greg Fleischaker breaks down weekly sales data for the city as well as many surrounding neighborhoods, such as Anchorage, Prospect, St. Matthews, the Highlands and Crescent Hill, to help buyers and sellers prepare themselves for an real estate transaction. Article Published On: 相关的主题文章: