Many areas in and around Louisville are seeing inventory levels in excess of year long highs, but in this aspect, the Prospect Ky real estate market seems to be bucking the trend. The number of homes for sale in 40059 is certainly rising, but there are still fewer homes for sale right now than there were earlier this year, in late spring or early summer. There are now 40 more homes for sale in Prospect than there were just a few weeks ago, but about 35 less than were on the market around May of last year. This seems to be the one statistic that I can find where homes in Prospect are faring a bit better than other areas, such as days on market and pricing.
Prospect Ky Real Estate | Homes For Sale Median Asking Price Rise $3,000
For the past five or six weeks I have been detailing how the median asking price for Prospect Ky homes for sale has been dropping, after months and months of holding steady at $500,000. However, this past week saw a slight uptick in the asking price of homes for sale, about $2,500 or $3,000 higher. The bad news is that inventory levels are still rising in Prospect, and that fact alone does not bode well for a great recovery any time soon for the Prospect real estate market.
Prospect Ky Homes For Sale Staying On Market More Than Twice As Long As Last Year
Prospect Ky homes for sale are staying on the market much longer than they were just one year ago, well more than twice as long. One year ago, Prospect homes were averaging about 100 days on the market before being absorbed, either through sales or simply leaving the market because the seller got frustrated and took their home off the market. However, that number has swelled from 100 days to over 230 days now, which is simply a huge increase. The sad part may be that there are not a lot of bright signs on the horizon that make me feel optimistic about the future of Prospect real estate. I think there may be another six months to a year of tough times ahead before the market starts to turn around in 40059.
Louisville Real Estate Agent Testimonial
After completing a recent transaction for a Louisville real estate seller, I connected with my client on LinkedIn. On the same day, I received one of the very nicest and complimentary recommendations, or testimonials, ever. This testimonial can be found on my website as well, and is attributed there to the clients of my most recent transaction.
“Greg was an absolute professional and a pleasure to work with. I could not imagine a better real estate agent in the Louisville area. Greg was our answer to an uncertain market. His aggressive marketing strategy and negotiation tactics enabled us to sell our house for a price above the starting sale price quoted to us by other agents! Greg got us a deal on the sale of our home other agents said was impossible. He was also invaluable in the purchase of our new home. He was a calm voice of reason during a very emotional time! Again his negotiating abilities allowed my wife and I to purchase our dream home for a price we never imagined possible. I would recommend Greg to anyone buying or selling a home.”
Posted via web from Louisville Kentucky Real Estate, Homes For Sale
Prospect Ky Homes For Sale | Inventory Levels Continue To Rise
The last time I wrote about inventory levels of Prospect Ky homes for sale it was to say that inventory levels had jumped up the past few weeks. That trend seems to have continued this past week, with another rise shown in the measurements. Six weeks ago, the number of homes for sale in 40059 was just over 200, maybe 202. In the weeks since, that number has grown to 242, a 20% rise. However, another way of looking at it is to say that even after the recent 20% run up, Prospect is just now at the same number of homes on the market as this time last year.















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