Welcome to our Louisville Real Estate Update for the month of October 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 (November 2015 – October 2016)
Not a lot of price improvement in Oldham County but throughout Jefferson County prices are soaring! Typically, we see a 4% annual gain in home values. Over the past 12 months in Jefferson County, that number is 7.7%! Astounding.
Areas 6 & 7 are performing quite well, with their more modestly priced homes. Areas where the average sale price is higher aren’t seeing the same results.
Prices inched higher continuing the trend-line higher here in Area 2. After two super strong months of home sales, October dipped behind the previous year.
Similar to Area 2, we see similar results here in our St. Matthews area. Prices moving higher, even as we head into the off season. Sales still strong but a bit behind last year’s mark.
Okolona and these surrounding areas are still performing incredibly well. The median sale price of $150,000 is a new record high. This coming in October of all times?!
Prices are really moving up in Area 7 in dramatic fashion. This at the same time as October home sales trounced the previous year.
Much more modest numbers here in Area 8 where the price point is higher. Overall improvement in prices but nothing dramatic and sales dipped below the previous year for October.
Decent but not great sales activity in our Prospect real estate area. Prices remain above the trend-line, just barely.
Our least impressive performance comes here in North Oldham as prices are flat and sales activity is dropping and dropping. October is the sixth straight month where home sales were behind the previous year.
Better results here in South Oldham but prices are flat. The push towards lower priced homes is taking a larger toll in Oldham than in Jefferson.
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
For the month, sales are almost exactly the same as last year with 1,008 homes sold during October. This after two straight winning months.
Prices are the real story here. County-wide home prices are increasing quite well. The median sales price for the month was $167,000. Last October this value was $155,000. That’s a 7.7% gain!