Welcome to Louisville real estate reports for November 2014!
Most areas saw decreased home sales when compared to November of last year, as you would expect, except for Area 2 which is still rolling along.
Values are also declining as expected when we head into the off-season for Louisville real estate.
Louisville Real Estate Reports (period ending November 2014)
For the second month in a row, home sales outpaced the previous year here in Area 2 showing strong demand for this location. Home sale prices inched higher than October though still under the trend.
Sales activity was lower year-over-year for this MLS area but strangely enough, home values are higher for another month just missing the high for the year.
November was a horrible month for real estate in Area 6, from sales dropping dramatically from last year to one of the steepest drops in prices that I’ve seen. Here’s hoping it was a statistical anomaly that corrects itself in December.
Sales were a bit under expected levels for Area 7 but home sale prices were higher than expected for the month.
A very predictable month for real estate in this area as sale prices moved lower into the Winter months and sales down from the previous year.
While sales were still roaring this time last year, it’s definitely not the case this year for Area 9 as just 75 homes sold for the month compared to 116 last November.
Area 20 performed better than most in this survey with sales just missing last year’s mark and values trending higher.
South Oldham couldn’t compete with its neighbor to the North as sales were down significantly. Values enjoyed a nice rebound though, so that’s something.
I’ve also updated the Quarterly Louisville MLS areas through September 2014.