Louisville KY Real Estate Monthly Report as of Feb. 2016
For Real Estate Inquiries, Please Call, Your Journey Team:
Niki Fuller at 502-523-5554 / e: niki@YourJourneyTeam.com
It's the first week of February 2016 and you must probably wondering as to how is the real estate market is fairing for this month. What I mean is, after all, real estate is one of the biggest investment we have made ( or not ) in our life and it is only right that we are aware of our current property values and the latest news in the real estate world, especially if you have plans of selling your home soon.
The real estate monthly report is not limited to the people owning a home, it is also wise to check the market every now and then especially if you are planning on buying a property anytime soon.
I would like to remind everyone that the report I will be providing you may or may not be accurate and it is best to contact our team for a FREE HOME VALUE REPORT or Request for a FREE CUSTOM MARKET ANALYSIS for a more accurate information.
You can reach us at 502-523-5554 or send us an e-mail at Niki@YourJourneyTeam.com. We are always happy to help with anything that you need.
Here is February 2016 Real Estate Market Report for LouIsville, KY.
Here is February 2016 Real Estate Market Report for LouIsville, KY.
Price Trends:
The median single family home price as of January 29, 2016, for Louisville, KY is $167,153.
Market Condition:
With a Market Action Index as of January 29, 2016 at 34.07
What is a Market Action Index?
“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.” Read more at: altosresearch.com.
Sales and Demand Trends:
The average property in Louisville as of January 29, 2016, has been on the market for about 124 days.
What is Sales and Demand Trend?
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?” - source:www.altosresearch.com
Price per square foot:
The median price per square foot for homes in Louisville as of January 29 2016 is about $110.
Home for Sale:
There are about 2,309 properties on the market in Louisville as of January 29 2016.
What is Homes for Sale?
“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. Read more at http://altosresearch.com.
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