The first month of the new year saw an increase in sales almost across the board when compared to January, 2011 but home prices took a hit; a few areas saw a significant drop. Keep in mind that when the sample size is smaller (areas that have fewer homes sold) those price fluctuations could be dramatically influenced.
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 January 2012
After a strong end to last year, Area 2 has been down the past couple of months. The median home price of homes sold in January dropped to it’s lowest point of the year.
Area 3 some saw some increased sales activity in January. Home values remain relatively flat, which in this environment is pretty good.
Similar to most of the city, home prices have declined while activity has picked up. Buyers are getting amazing value here as again, the median home sales price for the month was at record lows.
Home values in Area 7 continue their slide. Part of the equation must include lower priced homes being built, but even that can’t account for much due to the low number of new housing starts. Activity, on the other hand, was up big over previous year.
Large increase in sales over previous January, while prices bounce up and down.
Second month in a row with increased sales in Area 9. Fourth down month for prices but overall the trendline is relatively flat.
Mostly level month for Area 20 as both sales and prices haven’t changed greatly from previous year.
It’s common that when prices are up, sales are down, and vice versa. That’s the case in Area 21 where prices are down and sales have moved up.
That’s it for this month! Please check back next month for more Louisville home sales charts.
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