subject: Anchorage Ky Real Estate Update - November 2010 Statistics For Anchorage Ky Homes [print this page] November has just wrapped up, and Thanksgiving weekend is now behind us. But I don't think it is too early to look back and see how the Anchorage Ky real estate market fared last month. The first statistic I always look at is the pricing of homes for sale, homes that are actually for sale. While many agents look at what sold properties have done, I feel that only tells us about what happened weeks and months ago, when those properties were placed under contract. But looking at how prices are behaving for current active listings gives us insight into today's marketplace, what sellers in the Anchorage Ky real estate market are thinking.
If we look at the median asking price of homes for sale in Anchorage, or more accurately, 40223, we will notice a recent trend of declining prices, falling from about $312,000 in July to the most recent measurement of just over $290,000, for a drop of $20,000! But that is just looking at a trend line, which is calculated by averaging 90 days worth of data into one measurement, and then repeating that process each week. Looking at weekly data should give us the same basic story, but will show us what is really happening and with more volatility. In this instance, weekly data points have fallen from $320,000 in May to this past recording of $280,000, for a drop of $40,000 or over 10% in just a few months.
The second statistic I normally look at for any market analysis is Days On Market, or DOM. Applying this measurement to Anchorage homes for sale shows us that we are currently experiencing a rise in the length of time homes are spending on the market. However, even with a current rise, we still are not seeing DOM levels as high as they were one year ago at this time, which is something of a positive sign. Last year, homes were on the market an average of 170 days and rose to 185 days before falling to 115 days this past summer. Lately though, our values are much closer to 155 days on average, so much worse than this summer, but not as dreadful as last November.
The last statistic I always make sure to check is the inventory level for any specific location. For Anchorage Ky, I simply use the zip code 40223 and checks housing levels for the past year. Not surprisingly, the number of Anchorage Ky homes for sale has risen, fairly dramatically, over the past year. And that is even with a sharp decline in this past week's measurement. In November of 2009, there were 100 units for sale in 40223, and that number now sits at 123, which is a 23% rise. But that looks better than what would have happened if we had used last week's number of 140 homes, making everything look much worse!
