The percentage of home owners in the Louisville market reducing their asking price is trending higher.  I have provided a chart that graphs two different trending lines measuring how many homes owners in the Louisville real estate market are reducing their asking prices.  The gold, smoother line, is a  90 day rolling average, while the black line uses only a 7 day average.

Louisville Real Estate price decreases

As you can see, the 90 day rolling average shows the overall trend is that more and more home sellers in Louisville are reducing their home asking prices, even as the 7 day average shows perhaps the smallest of reductions.  Let’s look at the bigger picture:  since April, when this chart starts, about 30.5% of all home owners in Louisville had reduced their asking price.  Now, six months later, about 37% percent of all homes on the market have had a price reduction.

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

Here’s a graph that I had a lot of fun putting together for you (pretty sad, isn’t it?) that shows how fickle the Louisville real estate market can be.  This graph contains only data for homes for sale in Louisville, and not sold homes, but takes into consideration all sorts of characteristics of the market, such as whether or not prices are rising and falling, how many homes are coming on the market, how many are leaving, etc…  And then, when all of the numbers are crunched, we can graph them and come out with an idea of whether or not we are in a buyer’s market, neutral market, or a seller’s market.  Using this graph and this scale, 30 is a neutral market, below 30 is a buyer’s market and above 30 would be a seller’s market.

Homes For Sale Louisville - Action Index Chart

Now here’s the fun part.  I graphed the same data in two different formats.  One, the gold line, is graphed using a rolling 90 day average, which means that the large variations from week to week are going to be average out a bit more and the resulting line will be much more uniform.  If we look at the gold line, we would say that we have held steady in a pretty strong buyer’s market for the past six months, with a little variation up and down.

However, if we look at the black line, which is calculated on a week to week basis, we will see the same basic story, with one great variation.  It looks like in late May to early June, for maybe one or two weeks, we made it all the way up to a weak seller’s market!  For just the briefest of times, buyers were active, prices were strong, more homes were absorbed than came on the market, and everything lined up to give us a short time of a good seller’s market.  Short lived, wasn’t it?  The week after that, we had the lowest level, or strongest buyer’s market, that we’ve had in the past six months!

The prices on homes for sale in Louisville Ky continue to slip a bit as we head into fall.  I have charted the prices of active homes in Louisville in two different ways on the chart below.  One line uses a 90 day rolling average, which results in a smoother line and more visually appealing graph.  The other is plotted using data points collected every 7 days, without being smoothed out, which is why it looks much more up and down.  As you can clearly see, we had a bit of a run up in prices during the summer months, and now appear to be heading back down a bit over the past few weeks.

Homes for sale in Louisville Asking Prices

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.

OK, so maybe the title is a little harsh, and I should apologize to real estate agents in Las Vegas, but just look at the graph below.  Wow!  We hear alot around here, in Louisville, about how bad the real estate market is, but look at the two graphs I have included, and let’s put a few things in perspective.

Las Vegas real estate prices

That’s not good.  Look at it, that black line that shows us what asking prices in Las Vegas are doing, is heading down and then further down.  Now, let’s look at the same chart, but this time for Louisville Ky homes.

Louisville Ky homes prices

Hmmm, it looks like it is heading up.  Now, I’m not saying it’s a great market out there, there still are enough buyers to balance out the number of homes on the market, but I am saying that maybe it’s not as bad as some people would have you believe, and its certainly not anywhere as bad as some other cities.  Let me know if you would like to see another city and how well we stack up to them.  Or, if you would like weekly updates on real estate activity in your zip code, simply fill in the box below!

The average sales price for homes in Louisville during May 2009 was $161,274, 3% higher than April 2009 for Louisville real estate.