Welcome to our Louisville Real Estate Update for the month of January 2017. This monthly post includes Louisville home sales numbers along with price data divided up by our Greater Louisville Association of Realtors (GLAR) MLS areas. Click the map to see where your Louisville home is located.
Louisville Real Estate Update (February 2016 – January 2017)
Starting out the new year we see sales about the same across Jefferson County as last January. But depending on where you look, some areas are doing much better than others.
Which you say? Well, the lower the average sales price the better. Higher priced homes aren’t selling nearly as fast as those down near the median and below.
Again, Oldham County did not perform very well but at least home prices keep moving higher in most of our monthly surveyed MLS areas. If you have a question about the value of your home, I’m always happy to help. Contact me directly and I’ll come out and meet you, view your property then give you the true market value of your home. No strings attached.
Sales couldn’t match last year’s mark but prices spike, even during the slower January month. Interesting to see that which isn’t typical but due our low housing inventory across the city.
Similar to MLS Area 2 (Clifton, Crescent Hill and St. Matthews) saw prices spike to a new high while sales tailed off. I just checked and there are only 128 homes currently for sale in all of Area 3. That’s crazy!
Both metrics saw improvement in MLS Area 6 as more moderately priced homes area in great demand and are selling quickly.
Improved sales as home sale prices return to normality. Winter months typically see prices decline below the trend-line but this year is uncharted waters when it comes to fewer choices for Louisville home buyers.
Pretty much the same results here as we saw last January. Similar sales numbers and prices are dropping a bit.
Better than average January for MLS Area 9 where both metrics are doing quite well, despite the higher home prices. Sales just keep on going!
Sales dipped under last year’s unimpressive mark but at least home prices move higher. New construction should be up for all of Oldham County in 2017.
Performance was not nearly as good in South Oldham in January as we saw in the North. Sales are down a bit, along with lower prices.
Other Louisville real estate update reports for the remaining MLS areas are updated each quarter. The following areas were just completed through Q4 of 2016.
- 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
For the past 12 months, we see prices steadily increasing, even as January had a slight decline. Given the low number of available homes, they are still moving at quite the pace.
Jefferson County home sales actually surpassed the January 2016 number by a few units. If you’re thinking about selling your Louisville home, this should be a much better than average year to do so.