Louisville KY Real Estate Market Report for May 2016
For Real Estate Inquiries, Please Call, Your Journey Team:
Niki Fuller at 502-523-5554 / e: niki@YourJourneyTeam.com
Last month we showed you how the real estate market is doing in Louisville and you can click here to compare this week's report and last week. So far, the real estate market in Louisville is doing really good, with high demand, prices are steadily high for a couple of months.
However, the report I'm about to show you may or may not be accurate and may change without prior notice. Also, the prices may vary and differ from each location and it's best to request for a custom market analysis or try our FREE HOME VALUE REPORT in Your Journey Team's Website.
You can also reach us at 502-523-5554 or send us an email at Niki@YourJourneyTeam.com. We'd be happy to help you in any way we can and answer any real estate concerns or questions that you may have.
Here is our Louisville KY Real Estate Market Report for May 2016.
Price Trends
Image source: altosresearch.com
The median single family home price as of April 29, 2016, for Louisville, KY is $181,619.
Request for a FREE HOME VALUE REPORT with Your Journey Team.
Market Conditions
Image source: altosresearch.com
With a Market Action Index as of April 29, 2016, at 39.03.
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 Trend
Image source: altosresearch.com
The average property in Louisville as of April 29, 2016, has been on the market for about 125 days.
What is Sales and Demand Trend?
Simply put, “Days-on-Market,” tells you how long the active properties currently for sale, in the 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.
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