Welcome to the October Louisville real estate report. You can’t find coverage like this anywhere in the city, even from the “big guys.” Let’s get started!
Year to date, home sales are down 5.53 percent from the previous year. Not terrible but not where we’d like to be. October was actually a good month, with improving sales activity.
While at the same time home prices continue to move higher at a better than average clip. Higher priced properties are not gaining at the same rate as lower-priced homes. Keep that in mind as you evaluate these reports.
Depending on how the weather does in November, we could see similar results by month’s end.
My offer stands. If you have any specific questions about our real estate market or even a particular home or neighborhood, please contact me.
Jefferson County Housing Market Report
In October, 1,074 homes exchanged hands in Louisville, Kentucky. It’s almost an exact repeat from September. For the year, 2019 is still about 600 units behind last year’s cumulative total.
Home prices, however, continue to be strong. For Jefferson County, the median sale price in October was $188,250. Compared to the previous year, this number is $8,350 higher. Values continue to impress, now if we only had more inventory.
Louisville MLS Areas with Monthly Reports
Homes sales in Area 2 hold strong. We even get an “uptick” in home prices that should be moving lower.
Very similar findings that we saw in Area 2 here in its neighbor to the north. Higher priced homes are seeing slower appreciation as expected.
Our runaway winner, for what seems like the last three years, is Area 6 where prices just keep moving higher. Builders of lower-priced homes are busy as bees.
A little bit better sales activity in October than last month, or even the previous year. More inventory would surely help Area 7!
After a strange price dip in September, the prices rebound to a certain extent this past month. Better weather must account for some of the gains we’re seeing in October here and across Louisville.
Here’s another example! Sales are better in October than in September for this part of Louisville. This at the same time that the median sales price hits an all-time high? Outstanding!
Here we see a pretty normal month for Oldham County real estate north of I71. Prices improve ever-so-slightly and sales continue to chug along.
Prices in this part of Oldham are following a more standard pattern by dipping after the Summer months. Sales are right on pace with the previous year.
Louisville Real Estate Report: Quarterly MLS Areas
For this month’s Louisville Real Estate Report, our quarterly areas are now completed through September. These are linked below. And you can always find them in 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
If you want to know “What is my Louisville home worth?” Please contact me. I’m always happy to help!