London, KY housing market

Here's the number that tells London's story this month: the typical home value is about one hundred ninety-one thousand dollars, down roughly 3.4 percent from a year ago. That's a real decline, not a pause. And sellers are feeling it. The median asking price in London is just over three hundred seven thousand dollars, which sits far above what homes are actually valued at, and that gap is showing up everywhere. Homes are taking about 68 days to sell, so nothing is moving fast. Nearly a quarter of active listings, about 23 percent, have already cut their price. There are around 156 homes on the market, with only about 50 new listings coming on, so buyers have room to be picky and little urgency. What this adds up to: if you list in London right now, pricing at the market isn't optional. Ask too much and you'll sit for two months, then join the group cutting prices. Price it right from day one, or expect to chase the market down.