LisetteAlarcon812

Aus Salespoint

2 year Overview of Louisville KY Properties for sale

With 2010 all in all, there is no better time to look back and take stock and the way truly putrid the Louisville real estate market continues to be and how bad the future looks for Louisville properties for sale! How do you like this one for any uplifting opening?

Rather than going through a variety of data, I want to take a look at only two charts today. The first is going to be for asking prices and the second is going to be inventory levels of homes actively available on the market in the city of Louisville. I won't be looking at surrounding counties, and this data does not include sold properties, multi-family units or condos, just single family homes for sale in Jefferson County.

I'll open with asking prices, the amount of money that home sellers are placing on their own listings when they're on the market and hoping to find a buyer. Normally, whenever we have a decent market, you realized incremental increases in prices. So that when we compare home prices in December of 2010 to December of 2009, we'd normally want to see a little rise. And if we look even further back than this past year, we'd anticipate seeing an even bigger increase.

But that's incorrect within our current environment! Our prices today are less than these were both in 2009 and 2008. Ouch. Which holds true for weekly data points recorded in the last 2 yrs as well as trend lines over the same period. At this time in 2008, weekly data points show something of about $149,000 for any median asking price. My newest measurement now shows an average cost of $145,000, a $4,000 drop in two years. Instead of increasing home values, we have actually seen a nearly 3% drop!

St Matthews Louisville Ky real estate

To drive the point home further, as we pick almost any date, and appear backwards, we will see our 2010 values are well off previous measurements. For example, let's consider median asking prices of Louisville homes for sale on July 1st for every of history 2 yrs. In 2010, home values were $155,000 around the first day of July. Twelve months earlier, asking prices were at $169,000. For the percentage lovers out there, that is over an 8% drop in one year. What about choosing a date within the springtime, like the first day in April? In 2010, data shows median prices at $154,000 compared to $160,000 last year.

OK, now I've established that asking prices of Louisville homes have not been on fire for the past 2 yrs. You're ready to proceed to inventory amounts of properties for sale. In December of 2008, there were approximately 3,750 single homes easily obtainable in the town of Louisville, based on recorded data points. That number grew to some high water mark well over 5,300 earlier this year before falling back to the most recent measurement of approximately 4,300 available units.

I suppose you can argue that we have seen a significant reduction in the amount of homes available on the market, since we dropped about 1,000 properties previously nine or ten months. But that ignores the fact that we currently convey more homes for sale than we did at this time this past year and the year before.

If you are an objective person, you have to consider the data and recognize that our prices are lower now than at this time either in of the two preceding years, and at the same time frame, we have more homes on the market at the moment than either of these two preceding years. Obviously, this isn't the manifestation of a recovering market, but instead an indication that we still have lots of homes to buy and equity to restore before we are able to say our market has rebounded.