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User:SilverGood348

2012-06-18T08:56:33Z

SilverGood348: Created page with 'Two Year Review Of Louisville KY Properties for sale With 2010 wrapping up, there isn't any better time for you to look back and take stock and just how truly putrid the Louis…'

Two Year Review Of Louisville KY Properties for sale

With 2010 wrapping up, there isn't any better time for you to look back and take stock and just how truly putrid the Louisville real estate market has been and how bad the near future looks for Louisville homes for sale! How do you like that one for any uplifting opening?

Instead of going through all sorts of data, I wish to take a look at only two charts today. The first will be for asking prices and the second will be inventory amounts of homes actively on the market within the city of Louisville. I will not be looking at surrounding counties, which 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 listings when they're on the market and hoping to find a buyer. Normally, whenever we possess a decent market, you realized incremental increases in prices. To ensure that when we compare home values in December of 2010 to December of 2009, we'd normally need to see a little rise. And if we glance even more back than this past year, we'd expect to see an even bigger increase.

But that is incorrect within our current environment! Our prices today are less than they were in both 2009 and 2008. Ouch. And that holds true for weekly data points recorded over the past 2 yrs as well as trend lines within the same period. At this point in 2008, weekly data points show something of about $149,000 for a median selling price. My newest measurement now shows an average cost of $145,000, a $4,000 drop in two years. Rather than increasing home values, we've actually seen an almost 3% drop!

[http://www.alivenotdead.com/zoeynell451/Louisville-Real-Estate-Ups-And-Downs-profile-2072383.html Louisville real estate listings]

To drive the purpose home further, if we pick just about any date, and look backwards, we will have our 2010 values are well off previous measurements. For instance, let's look at median asking prices of Louisville properties for sale on July 1st for every of the past 2 yrs. In 2010, home prices 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 a single year. How about selecting a date within the springtime, like the first day in April? In 2010, data shows median asking prices at $154,000 when compared with $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 levels of homes for sale. Back in December of 2008, there were approximately 3,750 single family homes easily obtainable in the city of Louisville, according to recorded data points. That number grew to a high water mark of over 5,300 captured before falling back to the most recent measurement of approximately 4,300 available units.

I suppose you could reason that we view a serious reduction in the amount of homes available on the market, since we dropped about 1,000 properties in the past nine or ten months. But that ignores the truth that right now we convey more homes for sale than we did at this time last year and the year before.

If you are a objective person, you need to look at the data and notice that our costs are lower now than at the moment either in of these two preceding years, and also at the same time frame, we have more homes on the market at this time than either of the two preceding years. Obviously, this is not the manifestation of a recovering market, but rather an indication that we have a lot of homes to purchase and equity to revive before we are able to say our market has rebounded.

SilverGood348

2012-06-18T08:56:29Z