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.

More and more home owners in The Highlands neighborhood of Louisville have been reducing their asking price as homes continue to sit on the market for longer and longer periods of time.  I have included a graph with data from 40204 and 40205, and you can clearly see that as fall approaches and people are getting nervous about heading into winter without a sale, sellers are increasingly lower their asking price to try and encourage an offer.

Louisville Highlands Real Estate Price Reductions

If you have any questions about homes in The Highlands, please don’t hesitate to visit the most complete Louisville Highlands homes website at www.GregFly.com.  You can also call me anytime at 1-888-GREG-FLY or email me at greg@gregfly.com.

As part of my weekly break down of real estate activity for the Highlands I like to look over quite a few different measurements.  Two of the measurements I use to gauge activity levels in the Highlands are the length of time homes stay on the market, as well as what sellers are asking for their homes.  When we look at these trends on a weekly basis, we get an idea of how the market is behaving and can get ahead of the real estate market much better than people who use data from sold homes, that usually trail active data by about 2 months.  First, here is the graph for prices for active homes in the Highlands, and after that will be the graph for how long homes are on the market.

Prices for active homes in The Highlands

Days On The Market for Homes In The Highlands

If you have any questions about homes in The Highlands, please don’t hesitate to visit the most complete Highlands Ky homes website at www.GregFly.com.  You can also call me anytime at 1-888-GREG-FLY or email me at greg@gregfly.com.

More homes came on the market again this week in the Highlands than were absorbed, meaning that, once again, home inventory levels rose a bit.  I have included a graph below for the Highlands real estate market, including the zip codes of 40204 and 40205.  Just in the past week, it looks like 40204 levels rose just a small amount while 40205 levels remained relatively level, but the overall trend seems to be up, and until we can sell a few more homes than come on the market, this seems to be the trend for the foreseeable future.

Highlands home inventory levels rise

If you like, we can even break it down more explicitly.  Here are two graphs, one showing new listings coming on the market, and the second showing listings being absorbed into the market.  Oh, if only the first graph had higher numbers than the second, then we might be moving more quickly towards a neutral market, instead of staying so solidly in a buyer’s market.  It looks dead even for 40205, and for 40204, it looks as if 1 or 2 more homes came on the market than were absorbed.

Louisville Highlands new listings

Highlands homes absorbed on a weekly basis

If you have any questions about homes in the Highlands, please don’t hesitate to visit the most complete Highlands Ky homes website at www.GregFly.com.  You can also call me anytime at 1-888-GREG-FLY or email me at greg@gregfly.com.

Here is my wrap up article for the real estate activity in the Highlands area for the past week or so.  In the previous two articles, I discussed the downward pressure on prices that sellers will feel if the Days On Market measurement rises, along with the number of homes on the market.  So here are the results:  more homes are reducing their prices.  It’s one thing to talk about, it’s another to actually see it.

More homes are dropping prices in the Highlands

And here is one more take-away from all of the bad news for sellers that I have piled up for you.  I use a measurement called The Action Market Index to calculate whether or not a real estate market is a buyer’s or seller’s market.  30 is a neutral market, and anything below 30 would signify a buyer’s market.  Well, guess what, look what has happened the past week or two in the Highlands.

Highlands area homes in buyer's market

Kinda ugly, especially if you live in 40205 and are thinking of selling your home soon.

If you have any questions about how to sell your home, even in this tough market, please don’t hesitate to visit the most complete Louisville Highlands real estate website at www.GregFly.com.  You can also call me anytime at 1-888-GREG-FLY or email me at greg@gregfly.com.

I just posted a short article about dropping asking prices for homes in the Highlands.  Let’s now look at just one or two factors, and see why sellers may be dropping their asking prices.  First, let’s look at inventory.  Are more homes coming on the market, or did a bunch just get absorbed last week, and maybe there are fewer homes available today than there were this time last week?

Number of Highlands homes currently on the market

No such luck, more homes are currently available today than there were last week, or the week before.  What does that do to a seller’s mindset who really wants or needs to sell?  I’ll bet that it makes them nervous, and more apt to lower their asking price to get their home sold.  What if I also told you that not only are more homes on the market, but that it is taking the homes currently available longer to sell, would that also make a home seller nervous and more anxious, and therefor more likely to reduce their asking price?  Of course.

Homes in the Highlands are taking longer to sell

Taken together, these two graphs give a pretty good indicator that the market for homes in the Highlands has not greatly improved, and that some more tough times are still in store for home sellers.  For home buyers, the story is a bit different!  There are people out there who need to sell and will be willing to chop their price to get the deal done!

If you have any questions about how to sell your home, even in this tough market, please don’t hesitate to visit the most complete Louisville Highlands real estate website at www.GregFly.com.  You can also call me anytime at 1-888-GREG-FLY or email me at greg@gregfly.com.

Well, it’s the beginning of the week, and that means that it’s time for a review of the Highlands real estate market for Louisville, KY.  The first chart I am going to share is simply that of home prices of active homes in the 40204 and 40205 zip codes,which includes the Highlands and Germantown, roughly speaking.  You’ll notice that 40205 is the more expensive line up top in gold, and that 40204 is the black line towards the bottom of the graph.

Clearly, this graph show a small, but sharp drop in prices for both zip codes over the past week or two.  We will look at some reasons why the asking price of active homes may be dropping in subsequent posts.

Asking price of Highlands homes dropped in past week

If you have any questions about homes in the Highlands, please don’t hesitate to visit the most complete Louisville Highlands real estate website at www.GregFly.com.  You can also call me anytime at 1-888-GREG-FLY or email me at greg@gregfly.com.

Here is one more look at homes in the Highlands for this week before I move on to another part of town.  Looking at both zip codes 40204 and 40205 it becomes obvious that homes in the Highlands are well into the buyer’s market using the Market Action Index graphed below.  Using data provide by Altos Research, any value below 30 is scored as a Buyer’s Market, and numbers above 30 would indicate a Seller’s Market.  You can clearly see that both zip codes started well below 30, but that both zip codes have been improving over the last six months even though they are still solidly in the Buyer’s Market zone.

Median Market Action Index for Louisville Highlands

If you have any questions about homes in the Highlands, please don’t hesitate to visit the most complete Louisville Highlands Real Estate website at www.GregFly.com.  You can also call me anytime at 1-888-GREG-FLY or email me at greg@gregfly.com.  In addition, if you would like receive FREE weekly updates for real estate activity within any Louisville zip code, please visit my Louisville KY Real Estate Statistics webpage at http://www.gregfly.com/market-reports-c16673.html.

Many people consider the Highlands area of Louisville one of the most desirable neighborhoods in town.  That is why sometimes the Highlands will buck the going trend in real estate prices, because there will always be some people looking to buy a home there.  Which might explain the following graph!  If you look at only the most expensive homes, the top 25%, and graph out for the past six months, you will see an upward trend!  That is not what most people would be expecting from reading the paper or watching tv.  In other words, sellers in the 40204 and 40205 zip codes whose homes are in the top 25% of asking price for the entire zip code feel confident enough to keep asking for higher and higher prices!  If you are sitting on the sidelines waiting until that awesome house in Cherokee Park finally comes down to a price you can afford, it looks like that won’t happen anytime soon.

Expensive homes in Louisville Highlands raising their prices

If you have any questions about homes in the Highlands, please don’t hesitate to visit the most complete Louisville Highlands Real Estate website at www.GregFly.com.  You can also call me anytime at 1-888-GREG-FLY or email me at greg@gregfly.com.  In addition, if you would like receive FREE weekly updates for real estate activity within any Louisville zip code, please visit my Louisville KY Real Estate Statistics webpage at http://www.gregfly.com/market-reports-c16673.html.

Here is my latest installment of my weekly real estate activity updates for the Highlands neighborhood of Louisville.

For more weekly video updates, please visit my YouTube Channel, or visit the most complete Highlands real estate website at www.GregFly.com.