HawnWest113
Monthly Summary For The Housing market Within the St Matthews Neighborhood In Louisville, KY
It has not been a great month, or year, legitimate estate within the St Matthews section of Louisville, KY. Over yesteryear 12 months, with some natural variation, we view prices for St Matthews homes lose value while a numerical indicator from the area's real estate health declined about 33%!
Using numbers provided by Altos Research, we are able to track all sorts of statistics in our local marketplaces, that is exactly what I've accomplished for single family homes currently easily obtainable in 40207, that we 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 would create a very active and unappealing chart with lots of ups and downs. Or, as I did, I'm able to 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 producing a more visually understandable product.
One year ago, this collection of homes within the St Matthews housing market had a median asking price of about $283,000, more or less. 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 very 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.
One other statistic I chart may be the Median Market Action Index (MAI), the industry assortment of other indicators, such as prices, days on market, inventory, etc... all rolled into one number, which in turn measures the overall health from 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 a Buyer's Market and anything above 30 restricted to a Seller's Market. Last October, in 2009, the MAI stood at almost 18.5, strongly in the Buyer's Market category. There is a lot of movement since that time, but unfortunately almost all of it's been declining movement, most abundant in recent measurement arriving at 12.5, an enormous swing of just about %33!
Two other data points to track while reporting on St Matthews homes for sale ought to be inventory levels and just how long those homes are sitting on the marketplace. Obviously, I've tracked both and never surprisingly can tell you that both measurements are moving in the incorrect direction, a minimum of if you are a home seller and want to see some balance in the marketplace. 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, but since then, it has been almost a straight appear, most abundant in recent measurements coming in around 240, which is about a 60% increase in the amount of homes turning up easily obtainable in St Matthews in the last 12 months.
The times On Market (DOM) measurement might not be quite as depressing as the inventory levels, nevertheless its still absolutely nothing to brag about. Last year's measurement started off around 127 days, rose to 180 days normally, before we had a large decrease in times as 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 have 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 make up for the glut of homes obtainable in the St Matthews real estate market.
