Overall it was a strong month for real estate in Louisville with both home sales beating the previous year in most of our monthly reports. This while home values continue to move higher.
The biggest winners for home value appreciation is Area 21, the southern portion of Oldham County. Area 7 wins for biggest improvement in home sales for the month.
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Louisville Real Estate Reports (period ending October 2013)
Not the best month for Area 3 in Louisville real estate as home values came back to earth after a colossal September. Home sales in this part of the city also trailed off, failing to surpass last year’s monthly total.
Louisville Area 6 performed as one would expect for this month in the cycle if a little less well. Sales were almost exactly the same as last year, which is a little disappointing given the success in other parts of the city. Seasonally, prices typical do decline but the market as a whole should be rebounding from the housing recession.
Better than expected month for home values as they continue to move the trend higher, which is great for Louisville Area 8 homeowners. Home sale volume, however, was disappointing for the month, even failing to surpass last year’s total.
Like we reported last month, Area 9 continues to have solid home value growth through November with the median home sale price of $225,000. The trend continues to move higher. Home sales were still strong even though they couldn’t beat last year’s total of 121, which was quite good.
Home values in this part of Oldham County are completely flat as far as the eye can see. Not sure how much of that the lack of appreciation or the trend towards smaller, less expensive homes that are being built. But what is going on with home sales? October beats September for the second year in a row and it wasn’t even close.
Home values in Area 21 have been jumping up and down quite a bit lately and October is no exception where the median value was $261,250. Unlike North Oldham, home values for the year are higher here in the South portion. Home sales also beat the previous year.