Louisville Real Estate | Market Index Stays Steady, Pretty Much
Here is this week’s installment of the chart I get asked about the most, but is the most difficult to explain: The Median Market Action Index. Today I will discuss the Action Index for the Highlands neighborhood of Louisville, or at least the zip codes of 40204 and 40205, which cover homes for sale in the Highlands. First, keep in mind, that since I am looking at two zip codes, there will be two lines on the graph, and don’t necessarily have to be doing the same thing! The most important thing to remember is that 30 represents a neutral market (which we haven’t seen in some time!) and anything below 30 is a buyer’s market, with the further below 30 we go, the stronger the buyer’s market it is. With all of that said, here is the graph:
Louisville Highlands Real Estaet Market Index
Back in May, we had a really short surge in home sales and activity, enough to push us into a Seller’s market. But it appears that was simply an aberation, since we were back to a buyer’s market in just a week or two! Since that point, it appears that both zip codes have been spending most of their time in between 15 and 20 on the Market Action Index, which is pretty solidly in a buyer’s market. Let’s keep an eye on these numbers and see if they don’t start to dip a bit as we enter the fall selling season, a traditionally slower part of the year.
If you have any questions, please don’t hesitate to visit the most complete website about homes for sale Louisville at www.GregFly.com. You can also call me anytime at 1-888-GREG-FLY or email me at greg@gregfly.com.
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