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.