The numbers are in (and have been for some time, but I've just now posted them) on the three zip codes I follow most closely here in Louisville, KY. Just as in the first quarter, I compared closed sale numbers from 2006 with those of 2005 in measuring the following categories: Total number of sales, high sale, low sale, median sale price, average sale price, & average days on market. I also gathered pending sale numbers measuring the same categories as well as active listings as of June 30, 2006. These statistics are below.
The total number of sales in all three zip codes were up slightly over a year ago, with the 40206 zip code experiencing the biggest gain. Otherwise, total sale numbers are relatively unchanged, which is encouraging news & confirms that these markets are stable.
Average closed sale prices were down minimally compared to a year ago in 40206 & 40207, and up slightly in 40205.
The median sale prices were down slightly in 40205 & 40206, and up a smidge in 40207.
The outook in my view is certainly favoring buyers as inventory is up in most of the Louisville area. Prices will remain strong for homes that sell, but I see a lower total sale number in the third quarter and fewer interested buyers currently in the market. This is ironic because the environment is very good for buyers with levelling interest rates in the mid-6% range & so much to choose from. Granted, many potential buyers are possibly taking a wait & see approach since they too will have to sell in order to buy, but anyone not needing to sell might consider a move.
Thursday, August 17, 2006
Active Listings as of 6/30/06
40205
Total: 115
Low: $124,900
High: $1,025,000
Median: $249,900
Avg: $267,348
40206
Total: 73
Low: $85,000
High: $1,750,000
Median: $239,002
Avg: $358,747
40207
Total: 168
Low: $125,000
High: $2,350,000
Median: $239,650
Avg: $361,037
Total: 115
Low: $124,900
High: $1,025,000
Median: $249,900
Avg: $267,348
40206
Total: 73
Low: $85,000
High: $1,750,000
Median: $239,002
Avg: $358,747
40207
Total: 168
Low: $125,000
High: $2,350,000
Median: $239,650
Avg: $361,037
2nd Quarter Pending Sales, 2006
40205
Total: 38
Low: $119,500
High: $699,500
Median: $214,000
Avg: $272,793
40206
Total: 17
Low: $68,000
High: $595,000
Median: $162,500
Avg: $184,685
Avg DOM: 48
40207
Total: 42
Low: $134,900
High: $1,800,000
Median: $236,950
Avg: $307,109
Avg DOM: 50
Total: 38
Low: $119,500
High: $699,500
Median: $214,000
Avg: $272,793
40206
Total: 17
Low: $68,000
High: $595,000
Median: $162,500
Avg: $184,685
Avg DOM: 48
40207
Total: 42
Low: $134,900
High: $1,800,000
Median: $236,950
Avg: $307,109
Avg DOM: 50
Closed Sales, 2nd Quarter, 2005
40205
Total: 97
Low: $101,250
High: $1,050,000
Median: $205,000
Avg: $244,561
Avg DOM: 40
40206
Total: 46
Low: $43,000
High: $834,500
Median: $172,500
Avg: $217,857
Avg DOM: 53
40207
Total: 118
Low: $118,000
High: $2,050,000
Median: $215,000
Avg: $298,238
Avg DOM: 55
Total: 97
Low: $101,250
High: $1,050,000
Median: $205,000
Avg: $244,561
Avg DOM: 40
40206
Total: 46
Low: $43,000
High: $834,500
Median: $172,500
Avg: $217,857
Avg DOM: 53
40207
Total: 118
Low: $118,000
High: $2,050,000
Median: $215,000
Avg: $298,238
Avg DOM: 55
Closed Sales, 2nd Quarter, 2006
40205
Total: 104
Low: $102,000
High: $1,700,000
Median: $ $203,608
Avg: $252,641
Avg DOM: 47
40206
Total: 58
Low: $67,500
High: $1,138,000
Median: $163,950
Avg: $210,705
Avg DOM: 37
40207
Total: 115
Low: $114,000
High: $1,427,500
Median: $226,250
Avg: $290,964
Avg DOM: 59
Total: 104
Low: $102,000
High: $1,700,000
Median: $ $203,608
Avg: $252,641
Avg DOM: 47
40206
Total: 58
Low: $67,500
High: $1,138,000
Median: $163,950
Avg: $210,705
Avg DOM: 37
40207
Total: 115
Low: $114,000
High: $1,427,500
Median: $226,250
Avg: $290,964
Avg DOM: 59
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