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 service to my clients, future and past, living in St Matthews, I like to keep up with the sales data for this area to help determine how the market is behaving.  As such, I have provided graphs below to show inventory levels for active homes in St Matthews, as well as a graph showing how long homes are staying on the market.  As you can see in the first graph, the number of homes on the market has decreased from about 215 homes to about 187, or more than 10% in just one month, or so.

Homes For Sale Louisville St Matthews Inventory

While the reduction in inventory is normally good news and serves as an indication that market conditions are improving, this may not be the circumstance this time around.  Usually, a reduction in inventory goes hand in hand with rising home prices and shortening time on the market.  Home prices have indeed had a recent rise, and quite a impressive price rise at that.  However, the graph below shows that homes are staying on the market even longer than ever.  I suppose this just shows that not every theory works perfectly every time!  It is apparent that the St Matthews real estate market has not quite decided how stable it is, and whether or not it is going to head up or down in the coming weeks and months.

Louisville Real Estate St Matthews DOM

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.

This past week prices for St Matthews homes for sale spiked upward, and by a surprisingly large amount.  Seeing small variations from week to week in home prices is not uncommon, but look at the graph below and you will see an unusually large spike upwards in the past week, from roughly $279,000 all the way up to $290,000!  Quite the jump.  I will keep checking on this statistic to see if this is simply a temporary spike, or really the sign of some trend that we need to keep our eyes on.  If you look back even further, just a few more weeks back, you will see that prices have rebounded all the way up from closer to $270,000.

Louisville St Matthews Homes For Sale Prices

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.

If you have been following the asking prices for homes for sale in St Matthews, you are very likely dizzy from the numerous ups and downs.  At least, if you look at the week to week measurements, which is represented by the black line below, you will see a lot of ups and downs.  However, if you follow Louisville St Matthews real estate home prices on a 90 day trend, represented below by the gold line, you’ll see a more steady progression.  The bad news is that the steady progression has been downwards, from about $298,000 six months ago down to $280,000 as of the last measurement.

Louisville Homes For Sale St Matthews Price

Another statistic that I like to follow is the standing inventory of homes on the Louisville St Matthews real estate market.  As you can see, the number of homes on the market has dropped a bit in the last few weeks, which you can track by looking at the black line in the graph below.  The 90 day trend line seems to be topping out a bit, which we can see is influenced by the recent drop of almost 20 homes, or 10%, in the last 4 or 5 weeks.

Homes For Sale Louisville St Matthews Inventory

If you have any questions about 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.

Homes for sale in St Matthews are staying on the market longer and longer.  The last week saw an increase in how long homes were staying on the market by a few days.  Its not a huge increase, but when its added on to previous increases, you can see that over the past few months the increase has been pretty steady.  If you look carefully at the chart below, you will see that homes currently on the market have been available for about a full month longer than homes that were on the market in April.

Louisville St Matthews Homes For Sale Days On Market

When you follow real estate statistics on a weekly basis, sometimes you see something that surprises you, something unexpected.  That is what happened this week when I reviewed the prices of homes for sale in St Matthews.  On a week to week basis, prices are apt to move up and down a bit, which is why I measure home prices on both a week to week basis as well as a rolling 90 day average.

Louisville St Matthews Real Estate Homes For Sale

If we look at the rolling average, we see that it looks like home prices in St Matthews are continuing to drop.  Which, over the past six months, they have.  However, if you look at a week to week number, it looks a bit different.  In fact, it appears that home prices in St Matthews actually rose about $8,000 since last week!  Let’s keep an eye on this stat and see if it is simply an influx of higher end homes coming on the market that is pushing the price up, or if there will be a corresponding uptick in sold home prices in a few months.

If you have any questions about 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.

Over the past few weeks, and even months, I have been talking about how the home inventory levels for real estate in St Matthews has been climbing, and how that likely places a downward pressure on home sellers and their prices.  Well, we might be near the apex of home inventory levels, and might start seeing some decline in the number of homes for sale in zip code 40207.

LouisvilleSt Matthews Real Estate Inventory

As you can see from the graph, the overall trend has been a pretty steep increase in the number of homes on the market since April.  Now, according to both the 90 day trending line, as well as the 7 day trend, it appears that levels are either leveling out, or maybe even decreasing just a bit.  While I doubt that this is a sign of a really strong market coming around the corner, it certainly can’t hurt anyone looking to sell their home in St Matthews over the next month or two.

If you have any questions about St Matthews real estate, or Louisville real estate in general, please feel free to call anytime or send me an email at greg@gregfly.com.

I seem to be running a bit late, seeing as how I like to get my St Matthews homes for sale info out every Wednesday, and it seems to be Thursday morning already!  Please forgive me.

The first graph I want to include today is for homes in St Matthews, and how much they are asking for.  It seems that over the past few weeks and months, there has been a pretty steep decline in prices, even though prices went back up about $1,000 or $2,000 last week.

Louisville St Matthews real estate - home prices

If we look at the overall trend and not necessarily the small variances from week to week, we will see that we have gone from a median asking price of $298,000 in late April, down $25,000 to close to $270,000 last week, with some normal ups and downs along the way.  The last six weeks have been especially brutal, with most of that $25,000 drop in St Matthews home prices happening since mid-August.

If you have any questions about St Matthews real estate, or Louisville real estate in general, please feel free to call anytime or send me an email at greg@gregfly.com.

Homes for sale in St Matthews are continuing to take longer to sell as more and more homes stay on the market.  This seems to be the same article that I keep writing, week after week, for the homes in St Matthews.  Look at the chart below, and you will see general trends up for both length of time on the market, as well as how many homes are on the market.  According to the graph below, homes for sale in St Matthews took about 93 days on average to sell in April, which has now climbed up to almost 120 days, and that’s just the average.  That means that there are lots of homes out there that have been on the market for quite a bit longer.  And the change in inventory levels hasn’t fared much better.  There were about 142 homes available for sale in St Matthews in April, and now there are close to 205 homes on the  market in the 40207 zip code.  Without more buyers coming out soon to pick up the slack, this excess in homes on the market will force an already soft market into even worse territory.

Homes for sale Louisville - St Matthews Inventory Levels

I wish I had a graph for you with all sorts of happy news for home sellers in St Matthews, but I don’t.  Here is a graph for the Market Action Index, which is a measurement of whether or not the St Matthews real estate market is in a buyer’s market or a seller’s market.  30 is the neutral line, with any measurement below 30 indicating just how far into a buyer’s market we are.  As you can see, we have held pretty steady around 17 or 18 for the past 6 months, which is a pretty strong buyer’s market, and with the price, inventory and DOM indicators I have seen, I am not predicting any big change in the local market.  It’s going to be a tough time for sellers for the foreseeable future.

Homes for sale Louisville - St Matthews Market Action Index

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.

Home prices in the St Matthews area of the Louisville real estate market held steady over the past week, but that’s about the best spin I can put on it.  If you look at the chart below, you will see a steady home price for the last week or two, but that comes on the tail end of a pretty dismal performance over the past six months. In the beginning of April, it looks as if the median asking price of homes in St Matthews was about $297,000, and since that time, we have fallen $27,000 down to  a median asking price of $270,000.  Not great.  But at least it didn’t get worse last week!

Homes for sale Louisville - St Matthews home 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.