Louisville,KY Market Trend as of July 31,2015

Louisville, KY Market Trend as of July 31,2015

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Market Trend is any consistent pattern or change in the general direction of the real estate industry which, over the course of time, causes a statistically noticeable change. This phenomenon can be a result of the economy, a change in mortgage rates, consumer speculations, or other fundamental and non-fundamental reasons.

Price Trends: 

The median single family home price as of July 31 2015 for Louisville, KY is $173,473. 

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Market Conditions:

With a Market Action Index as of July 31 2015 at 36.31

The Market Action Index (MAI) illustrates the balance between supply and demand using a statistical function of the current rate of sale versus current inventory. An MAI value greater than 30 typically indicates a “Seller’s Market” (a.k.a. “Hot Market”) because demand is high enough to quickly absorb available supply. A hot market will typically cause prices to rise. MAI values below 30 indicate a “Buyer’s Market” (a.k.a. “Cold Market”) where the inventory of already-listed homes is sufficient to last several months at the current rate of sales. A cold market will typically cause prices to fall. - source: http://altosresearch.com

Sales and Demand Trends:

The average property in Louisville as of July 31 2015 has been on the market for about 113 days.

Simply put, “Days-on-Market” tells you how long the active properties currently for sale, in aggregate, have been on the market (a.k.a. “time on market”). Said otherwise, “of the active listings currently available for sale, how long have they been for sale?” - http://altosresearch.com

Price per Square foot:

The median price per square foot for homes in Louisville as of July 31 2015 is about $112.

Homes for Sale:

There are about 2,556 properties on the market in Louisville as of July 31 2015.

“Inventory” is simply real estate lingo for “the number of homes for sale.” This stat shows you how much supply is available in the market you are researching. Inventory levels can ebb and flow frequently due to seasonal effects. There’s usually more inventory on the market in the spring-time as the natural rate of real estate activity picks up during this time of year. Alternately, there’s generally less inventory in the Fall or Winter as real estate activity slows. -http://altosresearch.com