Jacki Shafer | Phone: 502-643-7653
Address: 9911 Shelbyville Road, Suite 100, Louisville, KY 40222

Jacki's Real Estate Blog

8
Oct 2012

Louisville Home Sales Third Quarter 2012: Good News For A Change

Louisville has experienced the same housing woes many other pockets of the country have faced, but overall, Derby City has weathered the housing storm fairly well.

As you will notice in the graph below, the Louisville Multiple Listing System reports a huge jump in sales for the Third Quarter 2012.

Sales and Inventory Report

Category – Residential
Statistics for Entire MLS from 9/1/2011 – 8/31/2012

Propery Type:Single Family Residential, Condo/Patio Home,
Area:Central Downtown District/Old L-Ville/Butchertown, Dtown/Old Lou./Shively/West Lou/Butchertwn, Butchertwn/Highlands/Germantwn,
Clifton/Crescent Hill/St Matthews, Pleasure Ridge/Valley Station/Shively, Auburndale/Fairdale/Iroquois Prk/Shively,
Buechel/Highview/Okolona/FernCreek, FernCreek/Hikes Point/Jeffersontown, DglasHls/Hurstbrn/Mdltwn/Anchrg/StMatt,
Anchrg/Glenview/Lyndn/Prospect, Bullitt Co, Spencer Co, Oldham Co N-I71, Oldham Co S-I71, Henry Co, Shelby Co, Trimble Co,

Month

Year

Monthly
Sales

Monthly
Volume

Avg List $

Avg Sale $

Median Sold $

Avg DOM

Avg CDOM

% Sold/List

Current
Inventory

Months
Inventory

September

2011

884

$149,029,755

$177,257

$168,585

$135,000

83

142

95.10%

5901

6.67

October

2011

783

$132,445,387

$180,279

$169,151

$135,000

91

147

93.82%

5762

7.35

November

2011

786

$129,448,851

$173,891

$164,693

$135,000

88

144

94.71%

5494

6.98

December

2011

782

$124,280,353

$168,170

$158,926

$132,000

94

152

94.50%

5258

6.72

January

2012

640

$99,767,423

$164,789

$155,886

$125,000

87

161

94.59%

5049

7.88

February

2012

676

$106,864,023

$166,280

$158,082

$130,000

88

156

95.06%

5143

7.60

March

2012

881

$153,364,108

$183,199

$174,079

$140,000

90

147

95.02%

5234

5.94

April

2012

990

$169,928,117

$179,143

$171,644

$144,450

84

140

95.81%

5422

5.47

May

2012

1068

$182,145,786

$177,310

$170,548

$144,250

87

134

96.18%

5617

5.25

June

2012

1144

$211,272,534

$192,660

$184,678

$150,000

80

127

95.85%

5599

4.89

July

2012

1076

$195,498,952

$189,661

$181,690

$145,950

73

115

95.79%

5740

5.33

August

2012

1283

$220,579,030

$178,965

$171,924

$144,000

74

114

96.06%

5908

4.60

Annual:

 

10993

$1,874,624,319

$178,852

$170,528

$140,000

84

137

95.34%

5511

6.01

Annual:

2011 – 2012

10993

$1,874,624,319

$178,852

$170,528

$140,000

84

137

95.34%

5511

6.01


Note: The “Current Inventory” column(s) reflect the number of active(on market) listings on the 16th day of each month.
The “Months Inventory” column(s) value(s) equal “Current Inventory” divided by “Monthly Sales”.
This reflects how many months it would take to sell out of inventory at the current month’s rate of sale.

  • Total Months Inventory = Total Current Inventory / (Total Monthly Sales/12 Months)




The cumulative days on the market remains in the triple digits, up from the “glory days” of 90 day average before the housing market took a downward turn, but when you compare 4 months on the market against literally years on market in some areas of the United States, this is a pretty healthy number.

Sales are certainly up. Take a look at September 2011 as compared to August 2012. A whopping 400 additional homes SOLD – a 45 % increase.

Did Homes Prices Rise Too?

Unfortunately, for the most part, prices have flat lined, remaining pretty much the same as this time last year. And the “list price” to “sold price” remained at about 95%.

Putting It In Perspective

Ben Bernanke, Chairman of the Federal Reserve Bank, indicated interest rates will remain low through mid 2015 in an effort to give the economy a much needed boost and get people out there buying homes. While some may find this a real “shot in the arm”, buyers now have no sense of urgency, counting on interest rates remaining low for some time to come.
While homes are selling, our marketplace still has not seen any remarkable appreciation in value.

For the foreseeable future, the choice to sell and/or buy becomes a very personal one. Consumers choose to move up, move down, move across town or across the nation for reasons that fit their lifestyle, not because they feel they can count on a return on their real estate investment.

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