Market News

for a map of covered areas.) 

• The number of listings in all the areas' active inventory ranges from 1,336 to 9,192
• The average list price of current homes for sale ranges from $168,059 to $236,116
• The average number of canceled, withdrawn, or expired listings in the past 30 days ranges from 151 to 1,453
   

• Home sales prices hovered around 96%-ish percent of what they were listed for.
   
• The number of homes sold in the Greater Louisville Kentucky real estate market nearly broke the 1000 unit mark, at 999 properties.
   
• Homes in the Greater Louisville area, Southern Indiana area and Etown/Ft. Knox areas combined averaged 109 days on the market.

• Find out how the average number of days homes stayed on the real estate market in the last year compared to the last 30 days.
   
• Learn how the current average list price compares with the average sales price from the past 12 months.

• Ft. Knox Area/Elizabethtown area homes sold for 95.6% of their list price.
• Greater Louisville area homes sold for 95.4% of their list price.
• Southern Indiana area homes sold for 95.2% of their list price.

1. The average number of homes sold was 5,027
2. The average sales price was $137,280
3. The average sales price vs. list price was 95.4%
4. The average number of days on the market was 115

• Active Residential Listings: 9,678
• Average List Price: $241,308
• Months of Inventory: 10.1

• Active Residential Listings: 2,171
• Average List Price: $171,228
• Months of Inventory: 9.6

• Active Residential Listings: 1,366
• Average List Price: $167,081
• Months of Inventory: 9.0

• There were 2,243 new single family homes & condos put on the market.  938 single family homes & condos sold.
• Southern Indiana real estate: 411 homes listed.  210 homes sold.
• Fort Knox and Elizabethtown real estate: 232 homes listed.  154 homes sold.

Posted by Tim Moore
VP of Marketology - Semonin Realtors

The Sunday front page of the Courier-Journal talked about suicide in the military, health care choices facing employees, and a former state official charged with 6 counts of wanton endangerment.

It is getting difficult to find something on the front page that relates to the local real estate market each week.

The best item on the front page which related to real estate was the advertisement at the bottom of the page marketing Porter paints.  Since I'm painting my own home after three years of living there this was the best reference I can use for real estate.

Below you will find some numbers which compare the number of properties marketed in the local paper versus the number of properties listed by Realtors in the local marketplace.  This may help PAINT THE PICTURE that thousands of homes for sale in Louisville Kentucky, Elizabethtown Kentucky, and southern Indiana are marketed in places besides the local printed newspaper.

This weekend our local market had close to 13,400 single family homes and condos listed by hundreds of local real estate agents.  The listings on the market included most of the homes for sale in Louisville and Jefferson County Kentucky.  They also included New Albany real estate, and Elizabethtown homes for sale.

These numbers do not include for sale by owner properties, just homes listed by Realtors and brokers.

Approximately 330 single family homes and condos were marketed in the Sunday Section J of the Courier-Journal.  Some were marketed has open houses in Jefferson County and surrounding areas.  131 of the ads had one photo of the home.  159 had no photos of the home.  The rest were just one liners noting address, price, bed, baths and little else.

When you do the math comparison of single family homes and condos on the market versus those shown in the newspaper, the percentage is approximately 2.5% of the homes in the area.

If you work with a Realtor, they have access to all the homes in the marketplace.  If you drive around and look at all the yard signs then you have access to all the homes for sale in the market.  If you look at homes for sale on the Internet, then you will probably see close to 99% of the homes for sale in the marketplace.

As resources go for finding your dream home in Louisville KY, Elizabethtown KY, Radcliff KY, Mt. Washington KY, New Albany IN, Jeffersonville IN or places far and wide in the local region, we recommend you use the Internet and sites like Semonin.com to research your properties and then work with a great real estate agent.  We have thousands of properties to view on Semonin.com and hundreds Realtors to help you at Semonin.
 

Here is your weekly at-a-glance report for the current real estate market, encompassing Fort Knox homes, Greater Louisville homes and Southern Indiana homes.

You can see that in the past year, the sales price versus listing price of homes was about 95%.  That means that, on average, homes sold for approximately 95% of the price they were listed for.

Greater Louisville Area homes sold for 95.5% of the list price.

Southern Indiana Area homes sold for 95.3% of the list price.

Etown/Ft. Knox Area homes sold for 95.6% of the list price.

Click here for more great information on the local real estate market.  Or click here to search thousands of homes for sale!



Remember that the MLS data changes all the time, so the numbers will be 99.9% accurate as of the end of the day Sunday.  The data on the snapshot comes directly from the MLS websites.  We are not doing any special programming to produce these numbers.

• Elizabethtown/Fort Knox area homes for sale: 1,355
• Greater Louisville area homes for sale: 9,565
• Southern Indiana area homes for sale: 2,190

As the school year routine starts and while the days remain hot, it may seem that real estate excitement has settled down.  Why not check it out for yourself?  Click on the Regional Market Snapshot below to compare Elizabethtown KY real estate with Greater Louisville Kentucky real estate and Southern Indiana real estate.

You can see how each area did in the real estate market in comparison with one another.  You can check out how many Fort Knox homes for sale sold in the last 30 days or the last year.  See for yourself how the real estate market is really doing.

In the past month, here's how many homes sold for each market:
 

• 957 Jefferson County Kentucky homes (and the nearby areas)
• 196 Harrison County Indiana homes for sale (as well as Floyd County Indiana real estate and other Southern Indiana cities)
• 153 units of Hardin County real estate

Remember that the MLS data changes all the time, so the numbers will be 99.9% accurate as of the end of the day Sunday.  The data on the snapshot comes directly from the MLS websites.  We are not doing any special programming to produce these numbers.

Each week we highlight some statistics from the real estate market, focusing on Fort Knox homes for sale, Louisville home statistics (and surrounding areas) and Southern Indiana real estate. 

The Regional Market Snapshot (click on picture to the left) gives you an inkling of what's been happening in your real estate area in the past month, past year, and even currently.

Sellers, be encouraged that homes are still selling - and at quite a high percentage of what home sellers are asking.  In the past year:
 

• Louisville Kentucky homes (and surrounding areas) sold for 95.5% of the list price.
• New Albany Indiana Homes, Jeffersonville Indiana homes, and other Southern Indiana listings sold for 95.3% of the list price.
• Elizabethtown homes for sale sold for 95.6% of the list price.

You can find these local real estate statistics here on the blog each week, or you can visit www.Semonin.com .  While you're there, be sure to look around at the thousands of properties for sale in the area - you're sure to find one (or more!) to fall in love with.



Remember that the MLS data changes all the time, so the numbers will be 99.9% accurate as of the end of the day Sunday.  The data on the snapshot comes directly from the MLS websites.  We are not doing any special programming to produce these numbers.

• Homes in the Southern Indiana area spend about 110 days on the market
• Homes in the Etown/Ft. Knox area spend about 143 days on the market
• Homes in the Greater Louisville area spend about 87 days on the market

Posted by Tim Moore
VP of Marketology - Semonin Realtors

Another great sunny August Sunday was in abundance on August 9, 2009.  Our area was drying out from downpours and flooding from earlier in the week. 

The weather warmed up in the 90's over the weekend to help dry out homeowners in Jefferson County Kentucky and southern Indiana.

Real estate activity has a tendency to dip a little bit in August due to end of the summer vacations and many families concentrating on starting back to school.  Home buyers and sellers from Floyd County Indiana to Elizabethtown KY get a little bit distracted from real estate during August.

Still... real estate business is getting done during the month of August.  Many first time home buyers are taking advantage of great mortgage rates and great inventory levels to find their first home.  The $8000 tax credit is helping many of the home buyers in Hardin County and Louisville.  If you would like more information about the first time home buyer credit then click here to view an informative 5 minute video.

This past Sunday, around 325 single family residential and condo homes were advertised in the Section J of the local Courier-Journal newspaper.  Less than half of these had a photo of the property to view.  Over 13,000 single family properties and condos were listed by local Realtors in our marketplace this past weekend.

The thousands of properties for sale were available on Semonin.com and many other local real estate websites.  Just over 2% of the homes listed by brokerage companies were marketed in the Sunday paper. 

The reasons this blog and Semonin focuses on comparing listings on the market to listings advertised in the Sunday paper are below.
 

• FOR BUYERS - Access to view and learn more about homes for sale in our area is a your fingertips through on-line sources like Semonin.com.  You see multiple photos, lists of rooms, marketing remarks, bed, baths, and other property stats.  When researching real estate for sale in Kentucky and southern Indiana, on-line real estate sites provide more information than newspaper ads.
   
• FOR SELLERS - The weekly comparison provides sellers with a reminder about how the resources used by buyers and real estate agents have changed.  Marketing real estate for sale has changed dramatically in the last few years.  Some seller may not know about these marketing shifts.