Often, after a home owner, or Realtor, has set an asking price and listed the property, they stop looking at the prices of homes on the market. Or perhaps they look only at the whole group of homes currently on the market. That gives you one idea of how the market is behaving, but doesn’t really give you the whole picture. For instance, what would you think if I told you that the homes that are coming on the market right now are priced well below the median price of homes already on the market? Isn’t that something worth considering?
Homes For Sale Prospect Complete Pricing Info
Let’s look at this graph for homes for sale in Prospect. I have graphed three different values: 1) Median asking price for all of the homes currently on the market, 2) Median asking price for homes that came on the market this week, or new listings, and 3) Median asking price of homes leaving the market, homes that were sold or simply taken off the market. It is pretty clear that there is a major difference, and has been for the past six months, in what homes are sitting on the market for, and what they are actually leaving the market at. It is also apparent that homes just coming on the market see the negative pressure and are pricing their houses more affordably in order to better compete with the homes already being offered for sale.
Sometimes it really does pay to have a Realtor who knows the market inside and out, and who pays for the tools necessary to properly dissect the home sales market.
If you have any questions about Prospect Ky real estate, or Louisville real estate in general, please visit my website at www.GregFly.com. Also, please feel free to call anytime or send me an email at greg@gregfly.com.
Highlands area homes saw their asking prices drop just a bit this past week, but overall, zip codes 40204 and 40205 have seen their home prices stay fairly stable over the past few weeks and months. In the graph below, the gold line measures the asking prices of homes for sale in 40205, while the black line measures home prices in 40204. As you can see, 40205 has been hovering just over $275,000 for quite a few months now, while 40204 has seen a bit more volatility, but has stayed pretty close to $225,000.
Louisville Real Estate Highlands Price
If you have any questions about Louisville Highlands homes for sale, or Louisville real estate in general, please visit my website at www.GregFly.com. Also, please feel free to call anytime or send me an email at greg@gregfly.com.
For the second week in a row, asking prices for homes for sale in Louisville St Matthews have spiked upward, quite a bit. But before we get too excited, there are a few things to keep in mind that might temper your enthusiasm. First, I am looking strictly at zip code 40207, which might leave out a few homes that our local MLS might call St. Matthews. Second, let’s keep in mind what a median price is. The median price simply means that half of the homes for sale are priced above this number, and half of the homes are priced below. It’s better to use than an average, which can be heavily swayed by a few expensive homes coming on the market and moving the average sales price quite a bit. Theoretically however, the median price measurement should better reflect the reality of what kinds of homes are being sold.
Homes For Sale Louisville St Matthews prices
Having said all of that, I did go back and look at what kind of homes have come on to the market in the last two weeks, and there were 24 new listings in 40207. Only 6 were under $200,000, but 9 were over $300,000, with one close to $900,000 and another listing well over $1,500,000. Does this mean that the market has turned and higher end homes are starting to sell better? I doubt it, but will continue to closely watch the market to make sure. I think it is more likely to be a coincidence that will have trouble repeating itself over and over. As a matter of fact, if you look at the median price of homes leaving the market, you will see that the 90 day rolling average has been pretty stable, between $275,000 and $250,000 for the past six months.
If you have any questions about Louisville St Matthews real estate, or Louisville real estate in general, please visit my website at www.GregFly.com. Also, please feel free to call anytime or send me an email at greg@gregfly.com.
As a Louisville Realtor, one of the most important services I perform for a client is helping to set an appropriate asking price for a property. This is also one of the most difficult, since most sellers want to maximize their sales price, but also price it to sell. Sometimes those are mutually exclusive goals, and that complicated situation only gets worse when most selling clients think that they can handle being patient and wait for the “that one” buyer who will pay their price, but in reality, most sellers get impatient very quickly, and don’t like being on the market more than a few weeks, much less months and months. (more…)
Sometimes as I look through all of the data I collect about Louisville real estate, I forget to keep it all in perspective. I suppose that it’s bad news for home sellers if prices keep dropping here in town, but how is the market across the county? Is it possible that even with a recent downward slide in prices, that homes for sale in Louisville are performing better than homes in other cities in the region, and beyond? To answer that question, because I know you have all been wondering about it for some time, I have included a few graphs of different large cities to compare and contrast with our own Louisville real estate market.
If you have any questions about buying or selling Louisville real estate in general, please visit my website at www.GregFly.com. Also, please feel free to call anytime or send me an email at greg@gregfly.com.
When clients of mine get to the point where they realize that they can no longer afford to keep their home, one of the most frequent questions I get is “What is going to happen to my credit if I do a short sale?” There is no good answer here, except the truth. A short sale most likely will punish your credit score. But often, not as badly as a foreclosure.
Most likely, by the time someone asks me about Louisville short sales, they are already behind on their payments, which means that their credit is already being affected. Delinquent payments will show up and drop your credit score before you even enter into the process of a short sale. Once you complete the process, and the bank has agreed to your short sale request, they will still most likely make a note of some sort on your credit scores. So overall, you could expect to see your credit score drop by 20o points or so overall, with a fair portion of that reflecting your late payments. In contract, a foreclosure can drop your credit scores by much more and last much longer on credit reports.
If you can get out in front of this, and talk to your Realtor and bank before you fall behind, you can sometimes still work out a short sale, and the damage to your credit score will be much less.
If you’d like more information on Louisville Short Sales or short sales in general, please make sure to visit my website and I’ll be happy to answer your questions.
If you follow real estate as closely as I do, sometimes you run across data from week to week that contradicts the larger trend. This is not abnormal and is actually just a little variation in the current real estate market. Much like the stock market, there are daily ups and downs, even if the market as a whole is moving in one direction or another. This is just one of those weeks, in regards to the number of homes for sale in Prospect. The overall trend is down, with fewer and fewer homes being on the market, even though the inventory hasn’t fallen in the last two weeks. However, looking at the chart below, you will see that sometime in late June and early July, the number of homes on the market has been decreasing pretty steadily.
Homes For Sale Prospect Ky Inventory
Here is another chart with weekly data that doesn’t quite match up to the longer view trend line. If you were to look just at the black line, you might get a bit excited and say that homes sold a bit quicker last week than the week before. Which is true, but the change was so small as to be somewhat insignificant, and the overall trend is still pretty much heading up, and has been pretty steadily for the past six months, maybe even longer.
Homes For Sale Prospect DOM
If you have any questions about Prospect Ky real estate, or Louisville real estate in general, please visit my website at www.GregFly.com. Also, please feel free to call anytime or send me an email at greg@gregfly.com.
As a service to all of my clients, past, present and future, interested in real estate stats from the Highlands neighborhoods from Louisville, I like to share some charts and graphs every week showing current market trends. Here is a graph showing the current asking price of homes for sale in the Highlands this past week and the previous six months. I have broken the Highlands down into two zip codes, 40204 and 40205, which should pretty much take care of the entire part of Louisville that people would consider the Highlands.
Louisville Real Estate | Highlands Prices
For the past several weeks, prices of active homes have been pretty steady, and really haven’t deviated too much. This stat by itself doesn’t give us too much insight into where the market may be headed, so I also like to look at a few different statistics to help round out my observations.
Homes For Sale Louisville | Highlands Inventory
Again, a bit of the same story. There has been a little movement as far as inventory is concerned, but overall, we really haven’t seen a big decrease or increase the past few weeks, just little movements here and there. Taken together with the price staying pretty flat, I think it might be fair to say that we are right in the middle of a flat market, with some sellers trying to get their homes sold quickly, some sellers willing to wait the market out, and then some others getting ready to take their homes off the market and then try again in the spring.
If you have any questions about Louisville Highlands real estate, or Louisville real estate in general, please visit my website at www.GregFly.com. Also, please feel free to call anytime or send me an email at greg@gregfly.com.
