Anchorage Ky homes for sale have seen their median asking price fall from above $330,000 down to about $280,000 as of this past measurement.  That is according to the trend line shown in gold below, which is a rolling 90 day average.  If you prefer to look at the actual data points, you will see much the same story.  Six months ago, the median asking price for homes on the market was right at $325,000, and as of this past week, that value is now $270,000.  In either case, the median price is down over $50,000 in just six months, which is not a great sign for the market going forward.  I’m a believer that the market will get better, just not anytime soon.

Louisville homes for sale have seen their asking price drop pretty dramatically in the past few months, but for the past two or three weeks, the median asking price of single family homes for sale has stayed steady at $145,000.  I suppose that last bit of news can be construed as good news, but I am much more worried about how much lower asking prices are today than they were one year ago at the same time.  Last year, in early 2009, the median asking price was $160,000, about 10% higher than they are today.  And with rising inventory levels and longer days on market, I am not too optimistic about a quick reversal of fortune.

Earlier today, I spent quite a bit of time preparing to meet with a potential client who lives in the Louisville Highlands real estate market.  He is a potential seller, and has what looks to be a very nice looking home, which will probably be listed for over $500,000 in the 40205 zip code.  As part of my research to prepare for my appointment with him, I broke down some of the local stats to check up on how the most expensive homes in the area are performing.  Apparently, the most expensive 25% of homes for sale in 40205 are taking close to 250 days to leave the market, either through a sale or having the listing leave the market without a sale.

The number of single family homes for sale in the Louisville real estate market has skyrocketed in the last several weeks, going from about 3,900 homes for sale in Jefferson County all the way up to well over 5,000 homes, and increase of over 25% in about just one month.  Last week’s measurement had seen the market treading water, without really adding many new listings, but this week saw another rise in the inventory levels for Louisville.  I know a lot of Realtors who are talking to anyone who will listen that we have hit the bottom of our down market, and that its sunny skies ahead.  But with numbers like these, I don’t see much reason to be so optimistic.  Unless there is a huge number of buyers running out to the market soon, which I doubt, this huge influx in inventory will depress prices even more while driving up the amount of time homes are staying on the market.

Louisville homes for sale have seen their asking price drop dramatically from summer highs of around $170,000 down to $150,000 and below.  For the past several weeks, the price of homes for sale in the Louisville real estate market has held steady at $145,000, the lowest value we have seen in over a year.  The black line on the graph below shows actual weekly data points and the gold line is the trend line.  It is not entirely uncommon to see the data points jump up and down a bit, but to see the trend line going in to year long lows does not bode well for our local market.

This is not a surprising post, or finding, but Louisville homes for sale are staying on the market longer and longer, and are staying on the market way longer today than they were this time last year.  Looking at the graph below, you can see that in late February of 2009, Louisville homes were staying on the market an average of 100 days, according to the actual data points shown on the black line below.  That number has grown to 180 days, or about 6 months.  The gold line, which shows the trend line, calculated by rolling the average on a 90 day basis, also shows a huge increase over the same time frame, from 90 days to 175 days.