Louisville Housing Market Reports for December 2011

About half of the monthly reported areas showed home prices up in December while the other half saw them decrease. For your area, please refer to the charts below. Sales activity was approximately even with December 2010 but no area had more total sales for 2011 than it did the previous year.

We also updated all the Quarterly areas. You can find those here:

Area 0: Central Downtown District/Old Louisville
Area 1: Downtown/Old Lou./Shively/West Lou./Butchertown
Area 4: Pleasure Ridge/Valley Station/Shively
Area 5: Auburndale/Fairdale/Iroquois Park/Shively
Area 11: Bullitt County
Area 19: Spencer County
Area 30: Shelby County

Note: Below you’ll find our monthly reports for the following Louisville housing markets. These charts display Louisville home sales and Louisville median home values with a trend-line. This Louisville real estate area map defines the MLS areas.

Monthly Reports: Period Ending December 2011

Home values inched up in December but for the year were a net drop. Also, after 6 straight months of beating the previous year, Area 2 saw activity drop for the month.

Values were up for the year in Area 3, even though the trend is now moving lower. Sales activity was up over the second half of the year, minus November, showing strength in housing for this location heading into next year.

Area 6 had a very difficult 2011. Not only was activity far less than the previous year, home values have steadily declined. There will be a point, if we haven’t reached it already, where properties will be very attractive deals for the bargain hunters. The last 3 months of the year did, however, start to push the trend higher.

If you thought Area 6 had problems, home values in Area 7 have moving lower in a very determined path for the entire year. December saw better than average home sales activity.

Home prices in Area 8 have been all over the board, thus the need for the trend-line becomes greater. It appears to be a bear market for prices and while demand improved in the 2nd half, the year fell beneath 2010.

Sales activity in Area 9 was much closer to the previous year than other areas, which shows stability. Values that had been improving over the course of the year started to trail off in the last quarter.

Home values are steadily increasing in this area, but December saw a bit of a dip in activity.

Similar to Area 20, home values were improving in the first half of the year only to decline in the second. Activity was similar to 2010 and better than Jefferson County as a whole.