The asking prices of condos for sale in J’Town have been on a bit of a roller coaster over the past year, with a lot of ups and downs from week to week.  The black line on the graph below shows the weekly data points collected, and it seems that every week has a change of direction.  However, if we look at the gold line, which is 90 day rolling average, it tends to smooth out the weekly variations, and we can see a more steady up and down trend.

Jtown Condo Asking Prices

If you would like to see some pictures of a few J’Town condos for sale, please visit the website www.Magnolia-Place-Condos.com, which is a development owned by a friend of mine.  I  am not the listing agent, and if you like what you see, you are free to call the sales agent in charge, or simply call the builder.

The days on market measurement for homes for sale in Prospect continues to rise, as has been the case for the bulk of the last six months and even longer.  In early June of this year, homes in Prospect were taking an average of 142 days to leave the market if you look at the actual data points.  But now, as of the latest measurement point taken this past week, that time has risen to 205 days on the market, an increase of a full two months worth of market time for Prospect Ky homes for sale.

Prospect DOM

The Median Market Action Index for Louisville Highlands Real Estate, as measured by Altos Research, has fallen from close to 20 in June down to 16 as of the most recent measurement this week.  Any measurement below 30 would indicate a Buyer’s Market, with measurements above 30 indicating a Seller’s Market.  As you can see, we are well below 30, and seem to be falling each month.

Louisville Highlands Market Action Index

Here is a quick update for the Louisville Highlands real estate market, with the price of homes for sale in zip codes 40204 and 40205 being illustrated on the graph below.  The line in gold is for zip code 40205 and covers the past 12 months.  Overall, the median asking price for 40205 has been pretty steady, with the last measurement pretty close to the same value we measured last year, very close to $280,000, give or take a few thousand dollars.  Louisville Highlands homes for sale in 40204 have seen a bit more movement in the same time frame, starting at $160,000 last year, up to $240,000 in late summer and now trailing off a bit to a median asking price of $200,000.

Louisville Highlands Homes For Sale Price

The last two posts I have written about the asking price of Louisville St Matthews homes for sale remarked about the unusual spike upwards.  This past measuring period shows that asking price is falling back to a more normal level, but that means that the asking price had to go from close to $320,000 all the way down to $300,000, a drop of $20,000.  While that sounds bad on the face of it, it is probably more accurate to view the past few weeks as a variance, and not a normal two or three week performance for St Matthews homes.

Louisville St Matthews Home Pricing

Even in today’s tough real estate market, there are still some Louisville new construction homes that are selling.  I have included a chart of recent sales from November of new homes that sold in our local market.  These are all of the single family homes that sold through the Greater Louisville Area Realtors in November that were only one year old, or less.  As you can see, even in one of the worst markets of all time, over 60 new homes sold in just November.  That’s the good news, I suppose.  The bad news:  there are over 700 new homes currently on the market today.  That will take quite a bit of time to work through that inventory, even if no new homes come on to the market, which we know just won’t happen.

Louisville New Construction November Update

The asking price of homes for sale in Louisville have been dropping, and quite substantially at that, over the past few months.  The black line below shows weekly data points for the past full year, and you can see that last weeks data point for the asking price for Louisville homes for sale is $20,000 less than it was just this past summer.  In addition, the asking price now sits very close to it’s lowest point that it has been in a year, sitting just one or two thousand dollars higher than this time last year.  Even as recent sales data looks somewhat positive, this recent dive in asking prices is sure to show up in the next few months worth of sales data that our local real estate board will publish soon.

Homes For Sale Louisville Pricing

If you have any questions about 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.

Only two homes that were new construction sold in the Highlands area of Louisville in 2009, and they were in very different parts of the Highlands.  If you were to look on the MLS in area 2, the local board would report that two homes sold that were Louisville new construction.  However, one was in Camp Taylor, and the other was on Valley Vista, which really is in the Highlands, so my guess is that some people would say only one home that was new construction sold in the Highlands area in 2009.  Here is a picture of that home, just in case you were curious.  Also, the builder of that home was Miter Construction and I’m sure they would be happy to build your house too.

Louisville New Construction

If you have any questions about Louisville New Construction, 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.

The number of homes for sale reducing their asking price in Prospect Ky has fallen dramatically over the past few weeks, as the graph below illustrates.  The black line shows the actual data points, taken once a week, while the gold line shows a 90 day rolling average.  In mid-October, almost 45% of all homes in Prospect had reduced their asking price, but now, as of last week, that number had fallen to closer to 36%.  Without some other info, it’s hard to tell if this is a positive sign for home sellers, or merely an abnormality.  At this point, with high asking prices, and long times on the market, I would be surprised to see a significant easing of the Prospect Ky real estate market.

Prospect Ky Homes For Sale Price Decline