Louisville Housing Market Reports for March 2012

Big month in a few areas, particularly Areas 7, 8, 20 and 21. To generalize the month, sales were about on par with March 2011 and home prices were mixed depending on area. No big real estate recovery, not just yet.

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 March 2012

After looking at the data, it appears to me that some of it was entered for the wrong period. Unfortunately, the system is reliant upon Realtors timely service and I would wager that some was misplaced. In any event, values move up but overall still trending downward. Sales in this area were down for the month compared to last year.

Bit of a dry month for Area 3 as prices were just below the trend and home sales were almost identical to the previous year. Still… it could be worse.

In the ever volatile Area 6, prices pop up and down like a jumping bean so it’s no surprise to see them bounce back up after two down months. Sales were just under last March.

Finally a strong month for this area with home values moving the trend upward after months of stead decline. Couple this with 8 straight months of beating the previous year, it appears that Area 7 might be turning the corner.

If Area 7 had a good month, Area 8 had a great month. Home values leaped to their highest levels since July 2008 while sales beat the previous month an extra 22 homes sold. Big time.

Values in this area continue their 6-month slide dropping to their lowest level since September of 2009. Sales didn’t beat last year but it was close.

The story in Area 20 fits the script, sales are up but at what cost? Sellers continue to drop their home prices to get them sold. At what point in 2012 will Sellers say, “That’s as low as we’ll go”?

HUGE sales month in Area 21. I dug deeper to see if I could find the reason behind it but the homes sold are all over the board: different neighborhoods, price ranges, ages, etc. I just looks like people are loving Oldham County! Prices hold steady despite big jump in sales.