It’s always fun to take a peek inside the lives of the rich and famous, right? Well… it’s that time of year again. We’re going to take a look at most expensive homes in Louisville that traded hands during 2016. We’ll also see how this year compares to years past.
Most Expensive Methodology
Here’s how it works. I run through our Greater Louisville Association of Realtors database and select all the properties that sold for $1,000,000 or more since January 1, 2016. Now, this will include properties outside of Metro Louisville because our MLS serves the surrounding area. But, we will be comparing apples to apples when it comes to previous years.
So, how many million dollar homes sold this year? That answer is 35! When looking at last year, the number at this point in the year was 37. So we’re actually down, just a bit, from our record year of 2015.
Most Expensive Statistics
For our 35 million dollar deals in 2016, here’s how the stats break down.
Average List Price: 2016 – $1,469,340 | 2015 – $1,410,815
Average Sold Price: 2016 – $1,325,809 | 2015 – $1,362,012
Average Above Grade Square Footage: 2016 5,138 – | 2015 – 5,468
Price Per Above Grade Finished: 2016 – $282.70 | 2015 – $263.44
Average Cumulative Days of Market: 2016 – 154 | 2015 – 269
We can see that the List and Sold Prices were about the same from 2015 to this year. But these Louisville mansions were 6% smaller, thus the sold price per finished square foot went up to a whopping $282.70!
Also, homes this year sold much faster. Nearly in half the time. Wow!
Largest Land Parcel
By far the largest land parcel in this survey is 358-acre estate at 2572 Benson Creek Road in Lawrenceburg, Kentucky. Talk about beautiful country living, this is it! Boasting a 20-acre lake, 2-acre vineyard, numerous barns and a 5-bedroom home, the new owners are certainly enjoying the space and privacy of this large Kentucky farm.
Most Expensive Homes
Now let’s get to the most expensive homes in Louisville. Of the 35 that sold during 2016, all but two were under $2m. However, let’s count down the top five and finish with the #1 most expensive home.
Coming at in #5 is 5408 Farm Ridge Lane in Spring Farm located in Prospect. This 5,570 square foot home, with an additional 2,900 square foot finished basement, was sold for $1,650,000 in July. Built in 2007 by Wolford Built Homes, there was no expense spared. While the home is sold, the property video is still active so you can take it all in.
Our #4 most expensive home in Louisville for 2016 is 1045 Alta Vista Road. This estate exchanged hands for the tidy sum of $1,800,000. Grand entrance? Check. The Greek revival ‘lantern’ is one of a kind! Large and spacious? Yes. With 7,942 above grade square feet you’ll have all the space you need. For more images, check out this home’s online video.
The Wyndenskye Farm, located at 6520 Taylorsville Road comes in at #3 when it sold for $1,832,000 in February. Just minutes from the Gene Snyder, this estates retains all the privacy you could hope for with almost 50 acres of land and is still buffered from Taylorsville Lake Road by another parcel of land. Styled after a high-end Texas ranch, this home is certainly nothing like the other properties in our list.
Here is the second most expensive property sold in Louisville this year. 4001 Glenarm Road sold for $2,150,000, which comes to under $13,000 an acre. This could potentially be the site of a nice Oldham County housing development. Who knows the current owner’s plan but it wouldn’t surprise me a bit.
Topping our list is 1830 Mayo Lane in the Rivercrest neighborhood in Prospect, which sold for $2,846,301 in May. A very interesting property, as it has been on and off the market many times since 2011. It was even listed as high as $6.25m at one point. Even more interesting is that when it finally did sell, it was at auction. Surprising! Who knows the stories this incredible 5,576 square foot mansion could tell?