Regional Market Snapshot for 6/13/10
For this week’s Regional Market Snapshot (click the picture above to open the full document), we’re going to feature a somewhat overlooked statistic – Months of Inventory. Months of inventory is how long it would take for all properties currently on the market to sell (based on how many sold in the last 30 days), if no other properties were listed.
Last year at this time, the months of inventory ranged rom 9.4 to 11.1 months. It would take 9 months to nearly a year for the properties on the market at that time to sell if no other properties were listed. Ack!
Home sellers and Realtors alike should rejoice at the current statistics for Months of Inventory. Take a look:
- Greater Louisville area properties months of inventory: 7.5
- Southern Indiana Area properties months of inventory: 8.6
- Elizabethtown/Fort Knox area properties months of inventory: 5.0 (less than half of the 11.1 months of inventory for the area last year at this time!)
So what does this mean?
SELLERS: Homes are selling. Reasonably quickly. At a price near the asking price. So put your home on the market. Today.
BUYERS: Homes are selling. Reasonably quickly. Make an offer on the property you have your eye on before someone else does. Today.
Your Realtor can help you with the difficult processes of buying and selling. Contact yours right now.
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.