December 2018 Louisville Real Estate Report

Here’s our last Louisville real estate report of 2018. Now that the year is complete we can look back and see how thing performed. If we look at all of Jefferson County we get a more accurate overview. Just remember, real estate is local. Your home’s true value is best determined by an analysis of comps that are great matches to your own house.

Let’s begin by looking at the chart for all of Jefferson County. First, 2019 could not replicate the magic that was 2018. The record in the books from 2018 was 12,604 homes. Now that all votes are in, our 2019 sales total is 11,869. This is actually a great number. It’s simply down 5.83% from last year. Nothing to be ashamed of.

Louisville is divided into 10 MLS areas. There are also two for Oldham County and one each for Shelby, Spencer, and Bullitt. (Click map to enlarge)

Most months the sales totals were very close. November and December trailed off a bit but all-in-all, it was a strong year for Louisville real estate.

Looking at home sale prices we saw a strange dip in September but other than that it followed the standard path we see most years. The most important thing is to compare our trend-line from last December to this past one to see how much things have changed. The 12-month average of median values for December 2018 was $167,262. Fast-forward a year this value is now $177,065. That’s good for a 5.86% increase. Considering Louisville’s annual appreciate rate going back to the 1940s is 4%, I’d say 2019 was a great year for home values.

I’m interested to see where 2019 will take us. Interest rates are still at historical lows but will there be enough inventory to spur our sales totals towards another record year? That remains to be seen.

December 2018 Louisville Real Estate Report

Our city is divided into smaller MLS areas that also give you a snapshot that part of the city. The following are the ones we updated each month.

Trending lower as expected as we head into the winter months. Overall, the year couldn’t compete with 2018 but it wasn’t that far behind.

What in the world is going on with these prices?! To be honest, I’m not sure what to think other than there were some properties that buyers couldn’t live without. Either that or a statistical anomaly. Baffling.

Area 6 just keep moving higher. If there were more inventory the sales numbers would be even more! Still, 2018 it was a strong year for this part of Louisville real estate.

The sale values during the last two months have trailed off a bit more than I would have guessed but over 2019 was good to Area 7. Four months surpassed last year’s record sales totals.

Even though this is a higher priced part of Louisville, prices continue to move higher. This is encouraging. Sales couldn’t keep pace but that’s the same across the city.

Another big December for Area 9 for home sales. Just like last year! Prices move up too but for the full year these values are flat.

Area 20 saw the reverse of most of the city. Here we see sales higher but prices haven’t budged. This with more new construction and the increased costs associated with building new homes.

Similar to Area 20 but with more price movement is what we see here. Sales are quite as strong and with the lower price point, that’s a bit perplexing. There’s still a great deal of opportunity in South Oldham real estate.

Quarterly LHB Housing Reports

All of the quarterly Louisville real estate reports are now completed thru the end of the year. Check out the links below or find them all in the drop-down menu at the top of each page.