Louisville Real Estate: Area Reports for May 2012

Not sure if I could call it a “great” month for Louisville real estate but it’s certainly a good one! Most areas in this month’s update saw improvement in home sales and several saw home sale values inch upward as well.

Even though half of this calendar year isn’t complete, it’s fairly safe to predict that 2012 will be a better year than 2011, at least as far as home sales are concerned. In my personal real estate business, I’m seeing the market swing towards home sellers which will gradually improvement prices as this market adjustment continues.

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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 MLS Areas Map defines the MLS areas.

Monthly Reports: Period Ending May 2012

Home sale prices have taken a significant hit in Area 2 over the past 6 months but activity continues to improve and why shouldn’t it? When prices are down in a hot area buyers will gobble them up! Sales were up huge over last year’s lackluster May.

Sales activity in Area 3 is very strong, especially for Louisville as a whole. Prices for this area continue their slow decline as May’s median home price of $184,500 doesn’t help a bit.

After a dismal 2011 this real estate area in Louisville is seeing signs of life. Home values are trending higher over the last 3 months and monthly sales have beat the previous year in 9 out of the past 10 month.

Large jump in home sale prices for May as the median clocked in at $154,000. This while sales activity continues to slowly improve. Good month for Area 7, which includes Jeffersontown, Fern Creek and Hikes Point. Interested in the Best Louisville Neighborhoods? Feel free to head over and check it out!

Sales activity has been quite healthy over the last 3 months in Area 8. Values are largely flat across the trendline as monthly data bounces up and down.

Similar to Area 8, this area is experiencing better sales activity than the previous year while their Louisville home sale prices which had been declining for 6 months are improved this month.

Home prices have likely reached their bottom in this area (like most in Louisville, KY) and we’re all waiting to see sales activity incrementally move upward.

Sales in Oldham County are increasing, even if it’s just at a slower rate but we should all welcome the improvement. Home sale prices are at the same level as this time last year.