With the start of a new month, comes the August 2018 Louisville real estate report. The stats show it wasn’t as strong as July but still a solid performance.
These charts are for each of the GLAR MLS areas. We publish 8 monthly and 7 quarterly reports. Click to enlarge the map.
As the Summer winds down so too are home sale prices. Typically they slow after the Selling Season but usually, that doesn’t really begin until September. This might be a sign of market cooling for it to be occurring already.
There is a bit more housing inventory now than there was in the first part of the year. But there’s a huge need for homes under $200,000. Those properties are selling very quickly, often with multiple offers.
If you can find a great “move up” option, selling your starter home here in Louisville is currently a simple task.
August 2018 Louisville Real Estate Report
Home sale prices coming back down but home sales here in Area 2 remained very strong for the month of August.
Sales still flying but prices dip sharply. Still a great deal of housing inventory for homes at $400,000 and higher.
Demand here remains strong and prices just… keep… going up! Sales are trying to keep pace with last year but can’t do it.
Prices coming down after a stellar July. Home sales are lagging here. But Jeffersontown still has a good number of affordable homes.
Home sales almost matched the previous year. The trend-line is now flat as prices are going to start moving lower.
Fairly good month for home sales. Prices continue to disappoint in Area 9. Similar to Area 3, homes in these higher price tiers are still plentiful.
Great month for sales. Terrible month for prices.
Pretty standard month for this real estate area as we see 2018 can’t match last year.
Quarterly LHB Housing Reports
All of the quarterly Louisville real estate reports are now updated through Q2 of 2018. If you have any specific questions, please let me know.
- Central Downtown District, Old Louisville – Area 0
- Downtown, Old Louisville, West Louisville – Area 1
- Pleasure Ridge, Valley Station, Shively – Area 4
- Auburndale, Fairdale, Iroquois Park, Shively Homes – Area 5
- Bullitt County – Area 11
- Spencer County – Area 19
- Shelby County – Area 30
Jefferson County Housing Report
Home sales in the lower price tiers continue to push the market. Demand is high and it pushes prices higher for these homes. Higher priced homes are not moving nearly as fast.
In August, 1,275 properties that exchanged hands. This is down 2.6% from the previous year. Only February and April were able to surpass the previous year’s totals.
The median sales price for August 2018 in Louisville Kentucky was $181,900. That’s 8.2% higher than August 2017 but it’s 6.2% lower than last month. Due to seasonality, we see home prices decline during the “off” season but August shouldn’t fit this label.
There’s still a great need for homes as demand is present. Selling now is easier than it has been in years.
If you’re interested in the value of your home, please contact me. I’m happy to help!
