October was a very good month for Louisville home sales, and to a lesser extent, home values. Every area saw an increase in the number of homes sold when compared to October of last year.
Home prices are more varied. For 4 of the monthly reports, home values are lower than at this point last year, 3 are higher and 1 is roughly the same.
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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.
Monthly Reports: Period Ending October 2012
Sales in Area 2 were not tremendous but after a strong summer that’s to be expected. Home values in this area did receive a nice bump, with a median home sale price of $154,950 for the month.
The trend line for home prices in Area 3 continue to slide but a correction could be right around the corner, as it has been in other portions of Louisville. Sales are up for the seventh straight month with 68 homes sold in October, compared to just 47 last year.
Home values bounce around but are gradually moving higher for Area 6. Home sales are also up, as an area that has been down of late appears to be improving solidly.
Big improvement in both factors this month for Area 7. The median home sale price for the month was $161,500 compared to just $148,500 in September. Sales also show promising activity.
Big jump in home sales for this area with 91 homes sold during the month. Very solid, especially when you see that only 59 homes were sold during October 2011. Home values mostly holding steady here.
While other areas are seeing home prices increase, this is not the case in Area 9. The 1-year trend line was at $213,325 at this point in 2011. Today that number is $197,821. This is a drop of 7.3%. Sales, however, are very high.
Similar to Area 9, sold homes in the northern portion of Oldham County have been declining in value. Sales activity was up 90% for the month, partially due to a poorer September.
Home values in this area could not be more steady, with the trend-line nearly flat. Like most areas, sales were up by a large amount.
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