Market Time For St Matthews Homes For Sale In Louisville Trending Down

For the past few months, the average amount of time that Louisville St Matthews homes for sale have spent on the open market has been trending downwards.  Looking at the trend line shown in gold, it appears that we had an inflection point in February or early March, and that homes starting leaving the market a bit quicker than before.  In the very beginning of 2010, St Matthews homes for sale were staying on the market an average of 190 days, if you look at the weekly data points, or about 150 days looking at the 90 day rolling average.  But whichever line you choose to view on the graph, you can clearly see that something changed, perhaps just the seasons, and homes were available for shorter and shorter times.

The graph above is for average time on the market, in days.  But let’s look at a median measurement, where really large, or small numbers, don’t wipe out some interesting data.  The graph below shows us the median days on market for homes for sale in St Matthews, or more specifically, single family homes in 40207.  Wow!  Take a look, the drop off is even more remarkable.

Please remember that the median measurement means that half the homes for sale in St Matthews were above and half were below the number.  So looking back one year ago, we can see that the median DOM was right around 80, which means that half of all of the homes for sale in the St Matthews real estate market were staying on the market for more than 80 days, and the other half was staying on less than 80 days.  That doesn’t sound too bad, I think I would take my chances with those numbers, right?  But fast forward just a few months, now the median number sits at 140 0r 150 days.  Wow, half of all homes on the market were taking longer than 150 days to leave the market!  That’s pretty long, it seems to me.  But since that time, it’s been all downhill, in a good way, and our current median DOM is right about where we were this time last year.