Louisville Commercial Real Estate Market Facts for the day.
KCREA (Kentucky Commercial Real Estate Alliance) which has our Commercial Information Exchange (somewhat equivalent to the MLS of residential real estate) reports a total of 3158 listed properties today. 1496 are sale listings and 1662 are lease listings. In the last 7 days, KCREA reported 8 sale transactions and 11 lease transactions.
For comparison, total KCREA listings very consistantly averaged 3000 for most of 2009 and 2010. Hence total listings are up by a little more than 5%. (Sales listing are up nearly 7% while Lease listing are up around 4%)
The total number of transactions is very healthy relative to the last couple of years. At the rates of last week, you would expect current inventory levels to last 166 weeks (about 3.2 years). (Sales levels would indicate a turn over of 187 weeks (or 3.6 years) while Lease levels would indicate a turn over of 151 weeks (or 2.9 years)).
All in all an interesting week. We can hope this trend continues.
If you need help with commercial real estate, please give me a call. I would love to help.
Thanks, all. Have a great day!
David
David W. McCoy
Associate Broker
Commonwealth Commercial Real Estate
10444 Bluegrass Pkwy
Louisville, KY 40299
No comments:
Post a Comment