Welcome to our Louisville Real Estate Update for the month of November 2016. 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 (December 2015 – November 2016)
November was a strong month for all of our Jefferson County MLS areas… Oldham County? Not so much. The areas where homes are more inexpensive are seeing remarkable sales activity!
As the prices move higher the number of sales lessen but this will still be a banner year for Louisville real estate. How has your home’s area performed? Want to know specifically how your neighborhood has done? Feel free to contact me. I’m always happy to help even if you’re not thinking about selling right now.
Strong month for sales but prices are dropping as per seasonal adjustments. For the year, sales are up in Area 2 (Butchertown, Highlands, Germantown and the surround areas) by 65 units.
Big month for our St. Matthews MLS area! Whoa, look at that sales bar for November. Big gains here and in home prices even as inventory dwindles, prices are up 5.67% over the past 12 months.
Just like Area 3, our Okolona/Fern Creek MLS area took off in November. Large increase in both metrics and that trend-line has been vaulting upward since July.
And you thought Area 6 has a steep trend line. Look at this one! We’re talking 8.76% higher home sale prices in just one year. For Louisville that’s pretty crazy.
More modest gains in Area 8 where homes are higher priced and aren’t in the same demand as sub $200k properties. Still, it’s positive to see things moving upward.
Similar to Area 8, our Prospect MLS area saw an increase in home sales and improvement in values. The second half of the year, despite dangerously low inventory levels has still maintained strong home sale activity.
Values aren’t increase in North Oldham, which I take to mean new construction homes are more modest in nature. Perhaps the McMansion’s of the 90’s & 00’s are a thing of the past? Sure, there will always be demand for top tier properties but the mid- to upper-middle class is opting for more savings and other valued spots for their income.
Not a great month South of I-71 either as sales activity dropped behind last year. At least their home prices aren’t moving lower and are holding steady in this MLS area.
Our other Louisville real estate update reports for the remaining MLS areas are updated each quarter. The following areas were just completed through Q3 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
All in all, it’s been a great year for Louisville real estate and these charts make it quite clear. With a median home sale price for November at $165,000, this is more than 10% higher than the same month one year ago. Prices just keep moving higher!
Sales activity is also on record pace. Check back later this month to see my Year in Review for all the data bells & whistles.