Weekly Market Report

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Edith McBride
5 years ago
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1 Weekly Market Report September 30, 2018

2013 2014 2015 2016 2017 2018 Greater Louisville Association of Realtors 1% DOWN FROM LAST YEAR C U R R E N T 9/30/2018 3,787 ACTIVE LISTINGS ACTIVE INVENTORY FOUR WEEKS AGO THREE MONTHS AGO 3,689

7 MONTHS OF INVENTORY FOUR WEEKS AGO THREE MONTHS AGO 2.4 2.

MOI is what most professionals in the business use to determine whether it is a Seller s Market, a Buyer s Market, or a Balanced Market.

2 Greater Louisville Association of Realtors 1% DOWN FROM LAST YEAR C U R R E N T 9/30/2018 3,787 ACTIVE LISTINGS ACTIVE INVENTORY FOUR WEEKS AGO THREE MONTHS AGO 3,689 3,414 SIX MONTHS AGO ONE YEAR AGO 2,771 3,846 UP 11% FROM LAST YEAR $365K AVERAGE LIST PRICE FOUR WEEKS AGO THREE MONTHS AGO 367K $369K SIX MONTHS AGO ONE YEAR AGO $350K $330K 4% DOWN TO LAST YEAR 2.7 MONTHS OF INVENTORY FOUR WEEKS AGO THREE MONTHS AGO SIX MONTHS AGO ONE YEAR AGO M O N T H S O F I N V E N T O R Y Months of Inventory (MOI) is the amount of time it would take to sell all current listings at the current sales pace. MOI is what most professionals in the business use to determine whether it is a Seller s Market, a Buyer s Market, or a Balanced Market. To calculate MOI, we divide the number of current active listings by the number of listings sold in the last 30 days. 5 Y E A R T R E N D I N G A C T I V E L I S T I N G S & M O N T H S O F I N V E N T O R Y Active Listings Months of Inventory GLAR is primarily Jefferson County Kentucky and immediate surrounding counties. Information is deemed reliable but not guaranteed and the MLS is not in any way responsible for the accuracy of this information. These statistics include single family homes and condos only and may not represent all real estate information in our markets. Last 30 days statistics go back 30 days of each current date noted throughout this report

1,527 UP 5% FROM LAST YEAR 1,419 1,488 1,129 1,347 $222K A S O F 9 / 3 0 / 2 0 1 8 UP 4% FROM LAST YEAR $215K $236K $211K $206K 35 TO LAST YEAR 37 37 DOWN 5% 51 GLAR is primarily Jefferson County

3 1,527 UP 5% FROM LAST YEAR 1,419 1,488 1,129 1,347 $222K A S O F 9 / 3 0 / UP 4% FROM LAST YEAR $215K $236K $211K $206K 35 TO LAST YEAR DOWN 5% 51 GLAR is primarily Jefferson County Kentucky and immediate surrounding counties. Information is deemed reliable but not guaranteed and the MLS is not in any way responsible for the accuracy of this information. These statistics include single family homes and condos only and may not represent all real estate information in our markets. Last 30 days statistics go back 30 days of each current date noted throughout this report. 39

DAY S O N M A R K E T Days on Market (DOM) is the period of time a property is active on the Multiple Listings Service before a conditional offer is accepted.

4 DAY S O N M A R K E T Days on Market (DOM) is the period of time a property is active on the Multiple Listings Service before a conditional offer is accepted. Simply put: it s a measure of how many days a home takes to sell. DOM is closely watched as it is an indicator of how strong the housing market is. The lower the DOM suggests it is a seller s market. The higher the DOM usually suggests it s a buyer s market. 37 AVERAGE DAYS ON MARKET The Average Days on Market calculation does not reflect the times a home that is sold has been on the market before by (1) its owner, (2) another Realtor whose listing expired, or (3) a listing cancelled and then relisted to generate new interest. This number, in most instances, does not reflect the number of days from contract to close which averages days for most closings. In order to have a true picture of the date property is listed to the date of closing, a seller would need to add prior days for sale activity to the above average days on market plus days from contract to close. The above is not reflective of a specific area but takes into account all homes on the MLS that sold in the last 30 days and the last 12 months. Your agent can give you a specific report tailored to your area Days Days Days Days 0-30 Days L I S T T O S A L E R AT I O B Y M A R K E T T I M E 92% 93% 94% 95% 96% 97% 98% 99% List-toSale Ratio(%) L I S T T O S A L E R AT I O This ratio is calculated by dividing the actual sales price by the home s final list price and express it as a percentage. This can help buyers and sellers negotiate on pricing. For example, an average list-tosale ratio of less than 100 percent shows that sellers generally accept less than their asking prices in that particular market. Home seekers may be able to secure the property by making an offer that reflects the average discount that buyers are receiving. Sellers reviewing the list-to-sale ratio can see at a glance whether their list price is too low or too high, and adjust the list price accordingly. GLAR is primarily Jefferson County Kentucky and immediate surrounding counties. Information is deemed reliable but not guaranteed and the MLS is not in any way responsible for the accuracy of this information. These statistics include single family homes and condos only and may not represent all real estate information in our markets. Last 30 days statistics go back 30 days of each current date noted throughout this report.

6 5 4 M O R T G A G E R AT E S Monthly mortgage cost on $200K home with current interest rate 4.750% $1,043.

5 6 5 4 M O R T G A G E R AT E S Monthly mortgage cost on $200K home with current interest rate 4.750% $1, H I S T O R I C AV E R A G E M O R T G A G E P AY M E N T S S E E N B Y G E N E R A T I O N M I L L E N I A L S $1, Y O U N G E R B A B Y B O O M E R S $1, $200K G E N X $1, O L D E R B A B Y B O O M E R S $1, % 18% 16% 14% 12% *Mortgage payment is principle and interest only. 3 0 Y E A R F I X E D M O R T G A G E R A T E S F R O M A G E N E R A T I O N A L S T A N D P O I N T 11.26% 18.45% 10% 8% 6% 4% 8.52% 8.23% 6.70% 6.78% 5.67% 4.59% 3.35% 3.35% 3.35% 3.35% 2% 0% MILLENNIALS GEN X YOUNGER BABY BOOMERS OLDER BABY BOOMERS (Rates from ) (Rates from ) (Rates from ) (Rates from ) Average Minimum Maximum *Historical rate information sourced by fred.stlouisfed.org Information deemed reliable, but not guaranteed.

6 I N V E N T O RY, S A L E S & M A R K E T C O N D I T I O N B Y P R I C E D A T A F O R L A S T 3 0 D A Y S A S O F 9 / 3 0 / Price Range Active Listings Percent of Inventory Last 30 Days Sales Percent of Market Current Months of Inventory Market Condition $0-25K % % 4.6 SELLER'S $25-50K % % 3.0 SELLER'S $50-75K % % 2.1 SELLER'S $75-100K % % 2.1 SELLER'S $ K % % 1.2 SELLER'S $ K % % 1.3 SELLER'S $150K-175K % % 1.2 SELLER'S $ K % % 1.5 SELLER'S $ K % % 2.2 SELLER'S $225K-250K % % 3.2 SELLER'S $ K % % 2.9 SELLER'S $ K % % 3.2 SELLER'S $ K % % 3.7 SELLER'S $ K % % 5.3 SELLER'S $ K % % 6.5 BALANCED $ K % % 10.8 BUYER'S $ K % % 5.0 SELLER'S $700K % % 15.2 BUYER'S Total 3, % 1, % 2.7 SELLER'S S E L L E R S M A R K E T B A L A N C E D M A R K E T B U Y E R S M A R K E T LESS THAN 6 MONTHS home prices will appreciate BETWEEN 6 7 MONTHS Home prices will only appreciate with inflation GREATER THAN 7 MONTHS Home prices will depreciate GLAR is primarily Jefferson County Kentucky and immediate surrounding counties. Information is deemed reliable but not guaranteed and the MLS is not in any way responsible for the accuracy of this information. These statistics include single family homes and condos only and may not represent all real estate information in our markets. Last 30 days statistics go back 30 days of each current date noted throughout this report.

7 IS YOUR HOME IN THE MARKET, ON THE MARKET, OR OFF THE MARKET? A LOOK AT PRICE VS CONDITION:

Calhoun County Residential Report January 2019

Calhoun County Residential Report January 2019 Total Residential Sales Current Month January 2019 87 Calhoun County residential sales for the current month totaled 87 units, representing a decrease of