LockettGrimaldo478
Monthly Summary For that Housing market In The St Matthews Neighborhood In Louisville, KY
It's not been a great month, or year, legitimate estate in the St Matthews area of Louisville, KY. Over yesteryear twelve months, with some natural variation, we have seen asking 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 are able to track a variety of statistics in our local marketplaces, that is precisely what I've accomplished for single family homes currently for sale in 40207, which I loosely make reference to as St. Matthews. When using data from Altos Research, I have the choice of using data points collected each week, which may result in a very active and unappealing chart with lots of ups and downs. Or, when i have done, I can look at a rolling trend line, that is achieved by averaging the weekly data points on the 90 day period, which has the result of smoothing the graph out, and creating a more visually understandable product.
One year ago, this assortment of homes in the St Matthews housing market had a median selling price around $283,000, give or take. Over the wintertime and heading into early 2010, that number rose considerably until the median asking point passed $310,000. Since that time, 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 now for a loss of revenue of about $10,000 out of this time last year.
Another statistic I chart may be the Median Market Action Index (MAI), which is a collection of other indicators, such as prices, days on market, inventory, etc... all rolled into one number, which then measures the general health from the marketplace. Sadly, for St Matthews homes, the report doesn't seem 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 restricted to a Seller's Market. Last October, last year, the MAI stood at almost 18.5, strongly in the Buyer's Market category. There has been a large amount of movement since that time, however almost all of it's been declining movement, with the most recent measurement coming in at 12.5, a huge swing of almost %33!
Two other data points to track while reporting on St Matthews homes for sale should be inventory levels and just how long those homes are sitting on the market. Of course, I have tracked both and never surprisingly let you know that both measurements are relocating the incorrect direction, at least if you are a home seller and want to see some balance available on the market. One last year, there were approximately 153 homes for sale in 40207, give or take a few. In early spring of 2010, that number fell to below 130 units, but since then, it has been almost a straight show up, with the most recent measurements coming in around 240, which is in regards to a 60% rise in the amount of homes showing 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, nevertheless its still nothing to brag about. Last year's measurement started out around 127 days, rose to 180 days on average, before we saw a large decrease in times because the Federal Tax Credit expired, with measurements falling up to 135 days available on the market. But the previous few weeks and months have seen homes beginning to take a bit longer, which can't come as a surprise when we see inventory levels shooting up so quickly. There simply aren't enough buyers to create up for that glut of homes obtainable in the St Matthews housing market.
