Months of Inventory (MOI) is the amount of time it would take to sell all current listings at the current sales pace. MO
Greater Louisville Association of Realtors®
Weekly Market Report
September 3, 2017
David Cunningham SEMONIN REALTORS® 502-296-8935 Serving Greater Louisville and Surrounding Counties
[email protected] www.davidcunningham.semonin.com
Disclaimer: Information is deemed reliable but not guaranteed and the MLS is not responsible for the accuracy of this information. These statistics include single family homes and condos only and it may not represent all real estate information in the local marketplace.
Greater Louisville Association of Realtors®
ACTIVE INVENTORY CURRENT 9/3/2017
FOUR WEEKS AGO
3,729
3,731 DOWN
3,461
SIX MONTHS AGO
ACTIVE LISTINGS
ONE YEAR AGO
3,143
FROM LAST YEAR
4,301
FOUR WEEKS AGO
$337K
13%
342K
FROM LAST YEAR
$345K
SIX MONTHS AGO
AVERAGE LIST PRICE
UP
THREE MONTHS AGO
ONE YEAR AGO
$315K
$299K
FOUR WEEKS AGO
2.3
2.5 FROM LAST YEAR
2.9
2.8
8000
16.0
7000
14.0
6000
12.0
5000
10.0
4000
8.0
3000
6.0
2000
4.0
1000
2.0
Active Listings
2016
18.0
2015
9000
2014
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.
ONE YEAR AGO
5 YEAR TRENDING | ACTIVE LISTINGS & MONTHS OF INVENTORY
2013
MONTHS OF I N V E N T O RY
2012
11%
2.3
SIX MONTHS AGO
MONTHS OF INVENTORY
DOWN
THREE MONTHS AGO
2017
13%
THREE MONTHS AGO
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. Disclaimer: Information is deemed reliable but not guaranteed and the MLS is not responsible for the accuracy of this information. These statistics include single family homes and condos only and it may not represent all real estate information in the local marketplace.
Greater Louisville Association of Realtors®
1,637
FROM LAST YEAR
1,519
1,497
DOWN
4%
1,092 1,553
$223K
UP
$211K
4%
$221K
FROM LAST YEAR
AS OF 9/3/2017
$189K $203K
35
FROM LAST YEAR
41
39
DOWN
56
37% 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.
62
Disclaimer: Information is deemed reliable but not guaranteed and the MLS is not responsible for the accuracy of this information. These statistics include single family homes and condos only and it may not represent all real estate information in the local marketplace.
Greater Louisville Association of Realtors®
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.
39 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 30-45 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 30-45 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.
L I S T TO S A L E R AT I O BY MARKET TIME
L I S T T O S A L E R AT I O
120+ Days 91-120 Days 61-90 Days 31-60 Days 0-30 Days 93%
94%
95%
96%
List-toSale Ratio(%)
97%
98%
99%
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. Disclaimer: Information is deemed reliable but not guaranteed and the MLS is not responsible for the accuracy of this information. These statistics include single family homes and condos only and it may not represent all real estate information in the local marketplace.
Greater Louisville Association of Realtors®
M O R T G A G E R AT E S 6 5
Monthly mortgage cost on $200K home with current interest rate 3.875%
$940.47
4 3 2 2010
2011
2012
2013
2014
2015
2016
2017
H I S T O R I C A V 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 MILLENIALS
GEN X
$1,024.09
$1,157.00
$200K
YOUNGER BABY BOOMERS
OLDER BABY BOOMERS
$1,301.19
$1,499.72 *Mortgage payment is principle and interest only.
20% 18%
18.45%
3 0 Y E A R F I X E D M O R T G AG E R AT E S FROM A GENERATIONAL STANDPOINT
16% 14%
11.26%
12% 10%
8.52%
8% 6% 4%
6.70% 4.59%
8.23% 6.78%
5.67%
3.35%
3.35%
3.35%
3.35%
MILLENNIALS
GEN X
YOUNGER BABY BOOMERS
OLDER BABY BOOMERS
2% 0% Average
Minimum
Maximum
Information is deemed reliable but not guaranteed and the MLS is not responsible for the accuracy of this information. These *Historical rate information sourced Disclaimer: by fred.stlouisfed.org statistics include single family homes and condos only and it may not represent all real estate information in the local marketplace. Information deemed reliable, but not guaranteed.
Greater Louisville Association of Realtors®
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 DATA F O R L A S T 3 0 DAY S A S O F 9 / 3 / 2 0 1 7
Active Listings
Percent of Inventory
Last 30 Days Sales
Percent of Market
Current Months of Inventory
Market Condition
$0-25K
65
1.7%
18
1.2%
3.6
SELLER'S
$25-50K
154
4.1%
35
2.4%
4.4
SELLER'S
$50-75K
197
5.3%
84
5.7%
2.3
SELLER'S
$75-100K
238
6.4%
96
6.5%
2.5
SELLER'S
$100-125K
196
5.3%
148
10.0%
1.3
SELLER'S
$125-150K
241
6.5%
212
14.3%
1.1
SELLER'S
$150K-175K
206
5.5%
186
12.5%
1.1
SELLER'S
$175-200K
232
6.2%
130
8.8%
1.8
SELLER'S
$200-225K
176
4.7%
104
7.0%
1.7
SELLER'S
$225K-250K
235
6.3%
96
6.5%
2.4
SELLER'S
$250-275K
179
4.8%
74
5.0%
2.4
SELLER'S
$275-300K
203
5.4%
46
3.1%
4.4
SELLER'S
$300-350K
257
6.9%
97
6.5%
2.6
SELLER'S
$350-400K
243
6.5%
60
4.0%
4.1
SELLER'S
$400-500K
312
8.4%
53
3.6%
5.9
SELLER'S
$500-600K
210
5.6%
24
1.6%
8.8
BUYER'S
$600-700K
102
2.7%
12
0.8%
8.5
BUYER'S
$700K +
285
7.6%
9
0.6%
31.7
BUYER'S
3,731
100.0%
1,484
100.0%
2.5
SELLER'S
Price Range
Total
SELLER’S MARKET
BALANCED MARKET
BUYER’S MARKET
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. Disclaimer: Information is deemed reliable but not guaranteed and the MLS is not responsible for the accuracy of this information. These statistics include single family homes and condos only and it may not represent all real estate information in the local marketplace.
Greater Louisville Association of Realtors®
I S YO U R H O M E I N T H E M A R K E T, O N T H E M A R K E T, O R O F F T H E M A R K E T ? A L O O K AT PRICE VS CONDITION:
Disclaimer: Information is deemed reliable but not guaranteed and the MLS is not responsible for the accuracy of this information. These statistics include single family homes and condos only and it may not represent all real estate information in the local marketplace.
Greater Louisville Association of Realtors®
Disclaimer: Information is deemed reliable but not guaranteed and the MLS is not responsible for the accuracy of this information. These statistics include single family homes and condos only and it may not represent all real estate information in the local marketplace.
