LauriaEtter286

LauriaEtter286 — Thu, 19 Jul 2012 16:03:26 GMT

LauriaEtter286: Created page with 'Monthly Summary For The Housing market In The St Matthews Neighborhood In Louisville, KY It has not been an excellent month, or year, for real estate within the St Matthews ar…'

Monthly Summary For The Housing market In The St Matthews Neighborhood In Louisville, KY

It has not been an excellent month, or year, for real estate within the St Matthews area of Louisville, KY. Over the past twelve months, with some natural variation, we have seen prices for St Matthews homes lose value while a numerical indicator of the area's property health declined about 33%!

Using numbers provided by Altos Research, we can track all sorts of statistics in our local marketplaces, that is precisely what I have done for single family homes currently easily obtainable in 40207, which I loosely make reference to as St. Matthews. When using data from Altos Research, I have the option of using data points collected every week, which may result in a very active and unappealing chart with lots of ups and downs. Or, as I have done, I'm able to take a look at a rolling trend line, that is achieved by averaging the weekly data points on the 90 day period, that has the result of smoothing the graph out, and creating a more visually understandable product.

Twelve months ago, this collection of homes within the St Matthews housing market were built with a median selling price around $283,000, more or less. Over the wintertime and heading into early 2010, that number rose considerably before the median asking point passed $310,000. Since that point, however, it's been almost all not so good news with values falling quite rapidly to $275,000 or perhaps a little below that mark, that is where we stand now for a loss around $10,000 out of this time last year.

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One other statistic I chart may be the Median Market Action Index (MAI), the industry collection of other indicators, for example prices, days on market, inventory, etc... all rolled into one number, which in turn measures the general health from the marketplace. Sadly, for St Matthews homes, the report doesn't appear to be very positive. When reading the MAI, something of 30 represents a neutral market, with lower numbers indicating a Buyer's Market and anything above 30 reserved for a Seller's Market. Last October, last year, the MAI stood at almost 18.5, strongly within the Buyer's Market category. There is a lot of movement since that time, however the majority of it has been declining movement, with the most recent measurement coming in at 12.5, an enormous swing of just about %33!

Two other data points to trace while reporting on St Matthews homes for sale ought to be inventory levels and how long those homes are looking at the marketplace. Of course, I've tracked both and not surprisingly can tell you that both measurements are relocating the incorrect direction, a minimum of if you're a home seller and want to see some balance available on the market. One year ago, there were approximately 153 properties for sale in 40207, more or less several. In early spring of 2010, that number fell to below 130 units, consider then, it's been almost a straight appear, with the most recent measurements coming in around 240, that is about a 60% rise in the number of homes turning up for sale in St Matthews over the past 12 months.

The times On Market (DOM) measurement may not be as depressing because the inventory levels, but its still nothing to brag about. Last year's measurement started off around 127 days, rose to 180 days normally, before we saw a large reduction in times as the Federal Tax Credit expired, with measurements falling up to 135 days on the market. But the last few weeks and months have seen homes beginning to take a bit longer, which can't come like a surprise whenever we see inventory levels shooting up so quickly. There simply aren't enough buyers to make up for the glut of homes available in the St Matthews real estate market.

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