Welcome! This is our monthly Louisville real estate update for the time period that finishes up 2017. In this update, we outline how our monthly MLS areas performed at both home sales and sale prices compared to the previous 12 months.
Inventory remains at historically low levels which means it’s a Seller’s market. Buyers have fewer options. Meanwhile, sales didn’t really slow. If you visit our Louisville sales page you’ll see that 2017 is another record year!
Across the nation, the phenomenon is basically the same. Prices are moving higher at a faster than average clip.
If you would like data more specific to your home, neighborhood or ZIP, just let me know. I’m always happy to help!
Area 2 finishes out the year with a strong month. The price trend-line is far higher than it was just a year ago and sales beat the previous December.
Sales couldn’t compete with the previous year in total but prices, similar to Area 2, did make large gains in this MLS area. It’s a traditionally popular area that simply needs more inventory.
Great googly moogly! Look at those home sale price gains for Area 6. They’re off the charts! This while home sales kept pace with a record 2016.
The final quarter couldn’t match 2016. In fact, for the year, sales were down 8.2% but prices have steadily risen here in Area 7.
Area 8 had a strong year in terms of sales while prices rose modestly. December was a star though beating the previous year by 27%!
Area 9 was actually down for the month of December. Homes in the higher price levels, this area, haven’t been nearly as strong as lower-priced parts of Louisville. The difference in trend-line marks is roughly $11,000 compared to a year ago.
Check out that spike in median sales price! I won’t if some agents entered their data incorrectly? The GLAR database says that the median sales price for the month was $382,000. That’s far higher than they’ve ever recorded.
While North Oldham goes UP, South Oldham drops down. Not all parts of the county are performing the same. New construction is clearly much more active north of I71.
All of our quarter MLS areas are updated through Q4 of 2017. This means our Louisville real estate update reports are up-to-date. Here are the direct links to our quarterly reports.
- Area 0: Central Downtown District, Old Louisville Homes
- Area 1: Downtown, Old Louisville, West Louisville Homes
- Area 4: Pleasure Ridge, Valley Station, Shively Homes
- Area 5: Auburndale, Fairdale, Iroquois Park, Shively Homes
- Area 11: Bullitt County Homes
- Area 19: Spencer County Homes
- Area 30: Shelby County Homes
All Jefferson County
As of this writing, it appears that 2017 could not surpass 2016 in terms of total homes sold in Jefferson County. Last year, that mark was 12,253, which was a new record for our city. In 2017, there were 12,041 properties that exchanged hands. That’s just 36 fewer or a decline of 1.73% for the year.
All-in-all it was still a great year for Louisville and our Louisville real estate updates each month have charted the progress for you. If you’d like more specific information or are simply curious about the value of your own home, please contact me. I’d be happy to help you.
Hope you have a most wonderful 2018!