Софья Шахова
Monthly Wrap Up For that Housing market In The St Matthews Neighborhood In Louisville, KY
It has not been a great month, or year, legitimate estate in the St Matthews area of Louisville, KY. Over the past 12 months, with a few natural variation, we view prices for St Matthews homes lose value while a numerical indicator of the area's property health declined about 33%!
Using numbers supplied by Altos Research, we can track a variety of statistics in our local marketplaces, which is precisely what I have done for single homes currently for sale in 40207, that we loosely refer to as St. Matthews. When using data from Altos Research, I have the choice of using data points collected each week, which would create a very active and unappealing chart with lots of good and the bad. Or, when i did, I'm able to look at a rolling trend line, which is achieved by averaging the weekly data points on the 90 day period, which has caused by smoothing the graph out, and producing a more visually understandable product.
One year ago, this collection of homes in the St Matthews real estate market had a median selling price of about $283,000, more or less. Over the winter and heading into early 2010, that number rose considerably before the median asking point passed $310,000. Since that point, however, it has been just about all not so good news with values falling quite rapidly to $275,000 or even a little below that mark, that is where we stand let's focus on a loss of about $10,000 from this time last year.
Horse properties for sale Louisville KY
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 then measures the general health of the marketplace. Sadly, for St Matthews homes, the report doesn't appear to be very positive. When reading the MAI, a value of 30 represents a neutral market, with lower numbers indicating any market and anything above 30 reserved for a Seller's Market. Last October, in 2009, the MAI stood at almost 18.5, strongly in the Buyer's Market category. There has been a large amount of movement ever since then, however almost all of it has been declining movement, most abundant in recent measurement arriving at 12.5, a huge swing of just about %33!
Two other data points to track while reporting on St Matthews properties for sale should be inventory levels and how long those homes are sitting on the market. Obviously, I have tracked both and not surprisingly let you know that both measurements are relocating the incorrect direction, a minimum of if you are a home seller and want to see some balance available on the market. One year ago, there have been approximately 153 homes for sale in 40207, give or take a few. In springtime of 2010, that number fell to below 130 units, but since then, it has been almost a straight appear, most abundant in recent measurements arriving around 240, which is in regards to a 60% rise in the amount of homes turning up for sale in St Matthews over the past Twelve months.
The times On Market (DOM) measurement may not be quite as depressing as the inventory levels, nevertheless its still nothing to brag about. Last year's measurement started off around 127 days, rose to 180 days normally, before we saw a sizable decrease in times because the Federal Tax Credit expired, with measurements falling up to 135 days available on the market. But the last few weeks and months have experienced homes starting to take a bit longer, which can't come as a surprise whenever we see inventory levels shooting up so quickly. There simply aren't enough buyers to make up for that glut of homes obtainable in the St Matthews housing market.
