Each and every month, I look at the health of the real estate market for different neighborhoods in and around Louisville, Ky. Today, I picked the Anchorage Ky community to review.
The first statistic from Anchorage Ky that I wanted to look at was the asking price for homes for sale in 40223. What I found when I looked at the data is that the asking price was significantly higher in mid-March of 2011 than it was just one year ago. In March of 2010, weekly data points were clocking in at $280,000, but now, in mid-March 2011, that same measurement was now at $300,000.
Not a huge movement in price, but a movement none the less, and in the right direction as to indicate some stability returning to the marketplace. It also appears that we can expect asking prices to continue rising in the Anchorage Ky marketplace, as the values have risen for the past five or six straight weeks.
After reviewing asking prices, let’s move on to inventory levels for Anchorage Ky. Twelve months ago there were almost 120 homes for sale, which was the lowest measurement we had until November 2010 when we saw a steep decline in the number of available units.
The number of homes actively for sale in Anchorage fell all the way to 105 from a high of 145, a 27% drop. However, since January of 2011, when there were only 105 homes on the market, we have seen a jump in inventory, bringing the current number of homes for sale in 40223 up to 121 or so, almost exactly where we where this time last year.
Next up to review, after asking prices and inventory levels, is how long homes are taking to leave the market, or DOM, for Days On Market. Homes for sale in Anchorage Ky are taking longer and longer to sell, with the trend line at a year long high of almost 170 days. Normally, with rising prices and relatively low inventory levels, I would expect to see declining DOM scores, showing a strengthening market. But homes seem to be taking longer and longer to sell, which is a bit of a puzzle.
If you would like to read even more about this topic, or perhaps dig a little deeper and get some insight into other statistics having to do with the Anchorage Ky real estate market, please don’t hesitate to visit my website where I post articles just about every week about different parts of town, but always come back to Anchorage.
To learn more about Anchorage Ky homes for sale, visit http://GregFly.com, where Greg Fleischaker breaks down weekly sales data for the Louisville, Ky as well as many surrounding neighborhoods, such as Anchorage, Crescent Hill, Prospect, St. Matthews and the Highlands.
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