Louisville Real Estate - Median Asking Price Falls 12% From One Year Ago!

Every month or so, I like to spend a few minutes and review data from the past month for the Louisville real estate market. First, let's look at how prices are treating Louisville home owners with properties currently on the market and for sale. If you are squeamish or faint of hear, you may want to cover your eyes, bad news ahead!

What can I say? There's just no good way to spin this data. Weekly data points have fallen so low that even if I looked back two years, we would still be charting new lows for our median asking prices of Louisville homes for sale. In fact, the next low before we hit our current mark of $138,000 was back in March when we leveled out for a bit at $145,000. But not one single measurement in the preceding year even hit that low, much less reaching into the 130's! For comparison's sake, this time two years ago, in November of 2008, the median asking price was $150,000 on the nose, which is $12,000 higher than our current values.

If we keep our focus on asking prices, but look at it a bit differently, we can see just how bad prices have really gotten. Last year was supposed to be a bad year in real estate, but if we lay this year's asking prices over last year's measurements, we would see that compared Year Over Year, our current findings are about 11% lower than those recorded in November of 2009.

So either way you look at it, Louisville home owners who are looking to sell are likely taking it on the chin right now. And I know no one asked for my opinion, but I don't see many indicators that would make me think we are about to turn the market around any time soon.

About the Author:
To learn more about Louisville real estate and data analysis of Louisville homes for sale, visit http://www.GregFly.com where Greg Fleischaker breaks down weekly sales data for the city as well as many surrounding neighborhoods, such as Anchorage, Prospect, St. Matthews, the Highlands and Crescent Hill, to help buyers and sellers prepare themselves for an upcoming real estate transaction.

Article Originally Published On: http://www.articlesnatch.com

Tags: Louisville real estate

, Louisville homes

, Louisville homes for sale

, homes for sale Louisville

, Louisville real estate agent

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