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August 2008 Sales numbers for Louisville Kentucky

By Bob | September 2, 2008

New home sales numbers for the month of August indicate there might be some light at the end of the housing slump tunnel! Home sales for the month of August were down 36 percent from a year ago. That’s actually better than July 2007 to 2008 where sales were off 44% from the year before.  There is more good news when you look at the median sales prices of homes. The median price was down less than 1% from a year ago. In July 2008 the median price had dropped 4% from a year before. Remember the number of foreclosures and short sales on the market are artificially dropping the median price of homes. A total of 464 properties sold in “as is “ condition, typically foreclosures and short sales are sold in “as is” condition. Short sales and foreclosures are not only contributing to the glut of homes to choose from but there average sales price can be 20-40% below similar homes in a neighborhood.   For more information go to www.weselllouisville.com

Number of Houses Sold This Month

966

Average Selling Price This Month

$182,464

Average Days on the Market This Month /Average Continues Days on the Market This Month

90/126

Number of Houses on the Market this Month (As of 9/2/2008 4:20:28 PM)

10611

Median Selling Price This Month

$140,900

These statistics should represent residential sales of houses, condos and townhomes in your board area. For this report, please use statistics for single-family residential sales only. Do not include lots or commercial properties. For your information, the median sales price is the price that lies in the middle of the list of prices of homes sold, ranked in order of amount (lowest to highest or vice versa). In other words, half the homes in your area sold for more, half sold for less. Smaller boards may be able to determine that price with the least effort. In most cases, boards with an MLS can use their MLS software to generate this monthly number. 

Topics: For Buyers, For Sellers, Trends |

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