August is now behind us! Summer is gone and school has once again taken over. What does that mean for real estate prices? How about sales? Well, that’s exactly what we’re here for… to give you the real scoop. Read on to learn more about the Louisville real estate market.
It wasn’t a terrible month, not by a long shot. It’s just that we are still seeing lower home sales here in Louisville, Kentucky. After the high watermark of 2017, numbers were lower in 2018 can continue to decline ever so slightly through this year.
Now that the preliminaries are complete, let’s get to the stats. Remember, these reports can’t be found anywhere else in the city. It’s my pleasure to serve you. All I ask in return is that you’ll give me a chance to earn your business when the time comes to sell your home or buy a new home in Louisville. Let’s begin!
Jefferson County Housing Market Report
During the month of August, there were 1,173 homes sold in Louisville, Kentucky. This is an 11.4% decline from the same month last year. After a very close July, we see far fewer sales this past month. Year-to-date, 2019 is 7.2% lower than in 2018.
That’s the bad news.
The good news is that home prices continue to move higher. The median home sale price during August was $195,000. That number for last August was just $180,000. So, as you can see that’s a big increase. Comparing our trend-line averages is more accurate, so let’s take a look. Performing this calculation, we continue to be at a 6.2% gain in home values over the previous year. That’s more than solid. Homeowners are seeing their investments increase quite well here in Louisville.
Louisville MLS Areas with Monthly Reports
Area 2 had a pretty good month in August with sales actually surpassing the previous year. Prices are come back to earth after a good spike during the summer.
The higher-priced MLS area of Clifton, Crescent Hill, and St. Matthews didn’t see the same kind of performance. Prices are moving higher but at a slow pace. Home sales were up in August over July but still down from the previous year.
Area 6 continues to be one of the top-performing in the entire city. Prices are blowing up and sales remain quite strong.
What’s happening here in Area 7 is a bit perplexing as values haven’t moved much at all for the year. The last few years have been great for Jeffersontown but 2019 sure hasn’t.
Summer of 2019 has not done a lot for Area 8. Sale prices were higher in March than June which is unusual. Sales in August performed quite well though, even after a stellar July.
Sales in Area 9 were similar to what we saw in Area 8 but with prices improving at a better clip, even with the high price point.
After the big price spike in July, we see them returning to the trend-line in August. Sales also balance out in August after a better than average month in July.
South Oldham didn’t follow North’s lead. The median home sales price in August is the highest on record, even while sales outpace the previous year.
Louisville Real Estate Report: Quarterly MLS Areas
All of the quarterly Louisville real estate reports are now completed through June. Check out the links below or find them all in the drop-down menu at the top of each page.
- 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
If you want to know “What is my Louisville home worth?” Please contact me. I’m always happy to help!