Welcome to LHB’s October 2018 Louisville real estate report. Eight of our MLS areas have their numbers crunched each month. I also perform the same calculations on Jefferson County as a whole. That way you get more great information, all for free, with no required sign in.
Most of Louisville saw an increase in home sales during October compared to the previous month, which is unusual. This was especially true for our MLS area 6 where sales continue to be very swift. We will not surpass 2017’s record total.
Values are also up for most of our areas. Area 8 saw a dramatic drop in the median home sale price. Simply look at the chart for your home’s area, or any area you are researching. If I can be of any additional help, please don’t hesitate to let me know.
As we head deeper into Fall and then Winter, sales will continue to decline as home sale prices also decrease. This makes it a less desirable to sell but a better time to grab up a bargain.
October 2018 Louisville Real Estate Report
Home sale prices are dropping big time across the city. The higher the price tier the greater the drop, with a few exceptions. At least home sales in the Highlands were strong in October.
Similar to Area 2, we see a bit better values in St. Matthews with fewer options for house hunters.
Here’s the anomaly area. Check out those prices! There are so few homes under $200 that bidding wars are pushing prices on these much higher than expected. In a way, this makes the more plentiful $350,000 plus homes a better value.
Not a big drop here in Jeffersontown for prices, again due to demand. If there were more homes, there’d be more sales.
Big drop in median home sale price in October for Middletown while sales actually surpassed the previous year.
Another bounce-back area where after a slower month we see a strong one. Typically October has lower home sales totals than September.
This is the third straight strong month for home sales in North Oldham County. Prices, however, remain flat.
Sales are up, for once, but at the expense of a much lower priced home.
Quarterly LHB Housing Reports
I just finished updating all the quarterly Louisville real estate reports through Q3 of 2018. You can click a link below or, as always, from the drop-down menu at the top of each page.
- Central Downtown District, Old Louisville – Area 0
- Downtown, Old Louisville, West Louisville – Area 1
- Pleasure Ridge, Valley Station, Shively – Area 4
- Auburndale, Fairdale, Iroquois Park, Shively Homes – Area 5
- Bullitt County – Area 11
- Spencer County – Area 19
- Shelby County – Area 30
Jefferson County Housing Report
Home sales in October were almost exactly the same in October as they were in September, only missing the mark by a few units. As of the time of this writing, 991 transactions were recorded in the Greater Louisville Association of Realtors database.
Compared to last year, this is a decline of just under 4%.
The median home sales price for Jefferson County was $179,500. This was up from the previous month. Compared to the previous year, this is a 10.1% gain. Making the calculation on the trend-line data provides a more accurate testimony as to what’s really happening. When I do this we see a 5.7% increase year-over-year. This is very strong compared with historical data where 4% is the norm.
There continues to be a strong need for more listings as demand continues to be high. If you’re interested in learning more about the specifics of your Louisville home, please contact me.