Market Reports

LOCAL REALTORS HAPPY WITH LOUISVILLE INCREASE IN HOME SALES

Flash-Local real estate professionals are elated over latest stats showing how hot the Jefferson County real estate market and sales have become.  According to Metro Search Inc. statistics, 37% of the homes on the market in Jefferson County have been selling in 20 days or less. That includes the peak period of the real estate bubble in 2005 when 26% of the homes on the market sold in 20 days or less. Some experts are saying that some homes are actually selling in the first few days on the market. Home sales in Jefferson County for the first five months of this year are up 17% over the same period last year. Sales are pending on about 29% of the homes on the market in Jefferson County and other surrounding Kentucky counties, according to  the Greater Louisville Association of Realtors.

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Even More Good News for Louisville Home Owners

On the heels of the recent welcome news about Louisville’s consistently low cost of living compared to the national average, a new announcement from the U.S. Conference of Mayors that took place this week brings Louisville home owners even more good news. Louisville received top prize among cities with over 100,000 residents for being the”most livable city” in 2012.

The City Livability Award seeks to recognize mayors and municipal governments for enhancing the quality of life in urban areas. In total, 10 cities are recognized each year; a first place award and four outstanding achievement awards go cities in two separate categories - cities with less than 100,000 residents and those with more than 100,000 residents.

Featured in the award announcement was Mayor Greg Fischer’s focus on community service through his “Give A Day” Week initiative. At the beginning of his term, Mayor Fischer vowed to help Louisville become known as one of the most caring cities in the county. He even signed a resolution which began the Compassionate Louisville campaign. Since then, the mayor’s office has worked hand in hand with Metro United Way to engage more volunteers for more hours of service than ever before.

The campaign challenged Louisville residents to join together to set the world’s record for service work by having at least 55,000 volunteers and acts of caring contributed in some way during the week of April 15 in 2011, which happened to be not only the beginning of the Kentucky Derby Festival but also National Volunteer Week. This first Give-A-Day Week ended up blowing the goal completely out of the water with over 90,000 volunteers and acts of kindness. Because of its success, the Give-A-Day Week continued this year as well, and city officials intend to make it an annual tradition.

Louisville home owners already know what a great town we live in, but we must admit . . . it’s nice when everybody else knows it too. Not only are do we have a cost of living that rivals few others in the nation, we have also been named the 2012 “most livable city.” Not bad.

Visit Louisville Real Estate to search for all available homes for sale in the Louisville market.

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Louisville Home Sales on an Upward Swing

Louisville real estate has rebounded from the effects of the housing bust that lowered home prices and triggered a national recession. In fact, in February members of the Greater Louisville Association of Realtors sold 26 percent more houses and condominiums than they did a year ago at this time, and February marked the eighth straight month in a row of higher sales figures.

Just what accounts for the increases in home purchases? Analysts believe that the dual forces of stronger consumer confidence in the economy and the improving job market are propelling the recovery. Certainly, no one is ready to say that the recession is completely behind us. But according to the U.S. Bureau of Labor Statistics, the month of January saw 15,000 more jobs available in Greater Louisville than during the same month of the previous year. As reported in the Courier-Journal, Louisville and Southern Indiana have added jobs each month since last May. This job growth has led prospective home buyers back into the market at a time when they can purchase a home for a price far lower than they would have been able to a few years ago.

Another indicator of the renewed health of the housing market is the number of permits home builders request. When builders anticipate a depressed market, few permits are requested because builders don’t want to sit on inventory they can’t move. This February though, builders requested 5 percent more permits for new construction, and the overall rate of permit requests is now at its highest point since late 2008.

All of this data means that both outside the doors of our homes and inside the offices that help us purchase them, spring has truly sprung! Spring is traditionally the prime home shopping season, so this year prospective buyers are in prime position to make the most of their investment as home prices today are still significantly lower than they were when the housing bubble burst. 

Search for Louisville Real Estate 24/7 on Louisville's superior MLS search engine.

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St Matthews KY market report as of March 14 2011

It’s very important to understand the current market conditions when buying or selling St Matthews real estate. Below is a list of the homes that have sold and closed in the St Matthews (40207) area in the last 45 days.  From this chart you can see that in many cases, sellers are taking considerably less than asking price to sell their homes. 

The absorption rate for St Matthews KY homes (40207) is 8.6 months. What this means is, based on the current sales rate, if no additional homes came on the market, it would take 8.6 months for all of the currently listed homes to sell. This indicates an oversupply of available homes in the St Matthews area as an absorption rate of 5 months is considered a balanced market. As a buyer this is good news as you can get some great deals in this type of market. 

Currently there are 232 homes for sale and pending sale in Louisville’s St Matthews area. The average sales price of the homes that have sold is $264,906 ($140 per square foot) and the average Days on Market were 129.  The list price to sale price ratio is 91.8% which means the sellers are getting on average 8.2% less than their original asking price or $23,650 off of the average price home.

Please visit St. Matthews Homes for Sale to search for all homes for sale in the Greater Louisville area.

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St. Matthews KY Oct - Nov 2010 Home Sales Stats

 Data compiled from the Greater Louisville MLS (Multiple Listing Service).
Deemed reliable, but not guaranteed.
We  feel that if you are in the market to buy or sell real estate in St. Matthews KY area, it is important to
understand the trends in Active Listings, Days on the Market, and Listing to Sale Price ratio so that you can
make an educated decision. Below are the closed residential sales in St. Matthews 40207 for the week ended November 6, 2010

St Matthews home sales Oct - Nov 2010

There are currently 220 home on the market in St. Matthews and 53 pending status.

Pleas visit St. Matthews Homes for Sale to search for your perfect home.
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Highlands KY October 2010 Home Sales Stats

Data compiled from the Greater Louisville MLS (Multiple Listing Service). Deemed reliable, but not guaranteed.

We  feel that if you are in the market to buy or sell real estate in The Louisville Highlands area, it is important to
understand the trends in Active Listings, Days on the Market, and Listing to Sale Price ratio so that you can
make an educated decision.
Louisville Highlands home sales October 2010

There are currently 271 home on the market in the Louisville Highlands area and 22 in pending status

Find your dream home by searching the Highlands Homes for Sale website. Search by area, price,  year built, square footage or any other detail
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St. Matthews KY Oct - Nov 2010 Home Sales Stats

Data compiled from the Greater Louisville MLS (Multiple Listing Service). Deemed reliable, but not guaranteed.

We  feel that if you are in the market to buy or sell real estate in St. Matthews KY area, it is important to
understand the trends in Active Listings, Days on the Market, and Listing to Sale Price ratio so that you can
make an educated decision.


St Matthews home sales October 2010
St. Matthews home sales October 2010 page 2

There are currently 222 home on the market in St. Matthews and 47 in pending status.

Follow this link to search all St. Matthews Homes for Sale the # 1 real estate search site.
 
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