June Real Estate Market Update for Louisville
It's that time of the month to check on how the real estate market in Louisville is faring. The month of May ended with a good real estate market statistics and you can check the statistics HERE. We all know that the real estate market is unpredictable and of course, the pricing of your home depends on the location, square footage, and so on.
The information provided below, may or may not be accurate and it's best to get a realtor's help and or try one of the FREE HOME VALUATION that we are offering in our 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 the June Real Estate Market Update for Louisville.
Price Trends:
Image source: www.altosresearch.com
The median single family home price as of June 17, 2016, for Louisville, KY is $198,179.
Market Conditions:
With a Market Action Index as of June 17, 2016, at 37.58.
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 June 17, 2016, has been on the market for about 110 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.
Price per Square foot:
The median price per square foot for homes in Louisville as of June 17, 2016, is about $97.
Homes for Sale:
There are about 1,963 properties on the market in Louisville as of June 17, 2016.
What is Homes for Sale?
“Inventory” is simply real estate word 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.
