Real Estate Market Update Information
Greater Louisville | Heart of Kentucky | Southern Indiana
Brokerage companies like Semonin track selected statistics to give a snapshot of how a marketplace is changing from one point in time to another. Market Snapshots are also used to record seasonality in our business. It is not hard to see December real estate sales will never be as high as the springtime months of April, May and June. By recording statistics on a weekly, monthly, and quarterly basis, Semonin accumulates information to help us see trends in the marketplace. As a home buyer or seller, knowing this information will help you better understand what to expect in the market and make smarter decisions throughout the real estate process. The marketplace Semonin operates is north and south of the Louisville Kentucky area from southern Indiana to a little south of Elizabethtown.
WEEKLY MARKET REPORT
Our weekly reports are produced each Tuesday for a quick glance at current market conditions. This report shows a snapshot of the current active inventory levels of homes for sale, as well as a snapshot of the last 30 days of sales. We do this for the total market and for multiple price points within the market.
Next, this report combines the inventory levels with the last 30 days of sales to create the “Month of Inventory” measurement which gives us the gauge of how the market is doing. The "months of inventory" number tells you how many months it will take for the existing inventory of homes for sale to sell out. In reality, this number NEVER goes to zero. It moves from the low single digits (a seller's market) to higher numbers (a buyer's market).
Lastly, this weekly report takes a look at current 30 year mortgage interest rates and compare them to historical 30 year rates experienced by generation.
MONTHLY HOUSING REPORT
Our monthly housing reports are produced by the 10th business day after the month closes. Again, this report looks at inventory levels and the calendar month sales but this time it looks at the last 25 months to give us a view of the seasonality in our market and two years of comparative numbers. This report also takes a look at the last five years of mortgage rates for the 30 year fixed mortgage rate, as well as a comparison of principal and interest payments for the latest month versus one year ago and ten years ago. We end this report with zip code/area comparisons of the last 90 days sales versus the same period one year ago to see how prices are trending is specific areas.
QUARTERLY MARKET OBSERVER
Our quarterly market observer looks at the national trends from respected industry experts and combines that with the ten previous years of market stats for inventory and year-to-date sales. We produce this report by the 10th business day after the quarter is over. We also look at home equity trends, mortgage rate projections, mortgage history and other items of interest which may change from quarter to quarter. Lastly we remind our readers of Semonin’s local expertise and national connections through HomeServices of America, a Berkshire Hathaway affiliate.