Участник:FerriHock848
Two Year Overview of Louisville KY Homes For Sale
With 2010 all in all, there isn't any better time to look back and take stock and just how truly putrid the Louisville real estate market continues to be and just how bad the future searches for Louisville homes for sale! How do you like that one for any uplifting opening?
Rather than going through a variety of data, I wish to look at only two charts today. The first will be for prices and also the second is going to be inventory levels of homes actively available on the market in the city of Louisville. I will not be checking out surrounding counties, and this data doesn't include sold properties, multi-family units or condos, just single homes easily obtainable in Jefferson County.
I'll open with asking prices, the amount of money that home sellers are placing on their own listings when they are available on the market and hoping to find a buyer. Normally, whenever we possess a decent market, you would expect incremental increases in prices. To ensure that whenever we compare home prices in December of 2010 to December of 2009, we would normally need to see a small rise. And when we look even more back than last year, we'd anticipate seeing a level bigger increase.
But that is not the case in our current environment! Our prices today are lower than these were in both 2009 and 2008. Ouch. Which is true for weekly data points recorded in the last 2 yrs in addition to trend lines within the same period. At this point in 2008, weekly data points show something around $149,000 for a median asking price. My most recent measurement now shows a median cost of $145,000, a $4,000 drop in two years. Instead of increasing house values, we have actually seen an almost 3% drop!
To drive the purpose home further, if we pick just about any date, and appear backwards, we will have our 2010 values are very well off previous measurements. For instance, let's look at median asking prices of Louisville properties for sale on July 1st for each of the past 2 yrs. This year, home prices were $155,000 on the first day's July. One year earlier, asking prices were at $169,000. For the percentage lovers available, that's over an 8% drop in a single year. How about choosing a date in the springtime, like the first day in April? This year, data shows median asking 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 within the last 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 for sale in the town of Louisville, based on recorded data points. That number grew to a high water mark of over 5,300 captured before falling to the newest measurement of around 4,300 available units.
I guess you can reason that we view a significant decrease in the number of homes 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 properties for sale than we did at the moment this past year and also the year before.
If you are a objective person, you need to consider the data and recognize that our prices are lower now than at this time either in of these two preceding years, and at the same time, we have more homes available on the market at this time than either of the two preceding years. Obviously, this isn't the sign of a recovering market, but instead a sign that we still have lots of homes to purchase and equity to restore before we can say our market has rebounded.
