Welcome to our Louisville Real Estate Update for the month of September 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 at the right to better where your Louisville home is located.
Louisville Real Estate Update (October 2015 – September 2016)
Like last month, our entire city performed almost the same this September as last. But depending on which part you live in, the results can vary quite a bit.
The strongest performance this month was Area 3, our St. Matthews real estate area, where home sales blew the previous year’s total out of the water.
Also noteworthy, are the trend lines of both Area 6 (Okolona) and Area 7 (Jeffersontown) which are quite steep. Compare those with most of the others in our survey which are far more flat. Very interesting.
September follows up last month with another strong month for home sales in our Highlands’ MLS area. Prices moved a bit higher as well, keeping that trend line moving upward.
Very strong month for St. Matthews real estate after a drop in August. For the year it’s almost neck and neck, only separated by 18 homes. Home sale prices are moving much higher too. That June total is still a head-scratcher.
Just like last year, Area 6 (Highview, Okolona and Fern Creek) saw a very high home sale totals in September compared to August, which usually isn’t the case. The prices are absolutely taking off!
For the fourth straight month, sales in Area 7 couldn’t keep pace with the previous year but September’s tally wasn’t too far off. Check out that price trend line though?! It’s dramatically higher.
Not since February did sales surpass the previous year, that is… until September where it did so by a slim margin. Prices aren’t drastically higher year-over-year in our Middletown area, perhaps a market correction from last year, combined with more sales at the lower levels.
Great month for home sales in Area 9 (Prospect) setting a high for the year with 151 units sold in September. Unexpectedly, prices jumped as well.
The market in North Oldham isn’t performing as well as the Southern portion but both are experiencing a cap of sorts on home prices. Perhaps economic concerns are causing home owners to downsize in larger numbers than was previously thought.
South Oldham real estate held check in September with identical sales numbers as 2015. Prices remain absolutely flat with only seasonal variations.
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
Looking at home values for September 2016, the median home sales price was $165.900. The 12-month trailing average was $158,255.
Four our sales volume, we look at the number of homes sold for the month, which was 1,081.
