Louisville Home Prices Stabilizing

Price cuts seem to be slowing down in some markets, which indicates the real estate market could well be stabilizing, with Heather Fernandez, Trulia.com and CNBC’s Diana Olick.

Here’s an interesting CNBC spot on the stats that show homeowners aren’t cutting prices like they have been. Looks to be another sign that we’re nearing the end of this housing recession.

As always, keep in mind that the Louisville real estate market doesn’t experience the wild highs or lows that plaque other parts of the country (see this post).

Louisville KY Home Sales: February 2010

We’re getting mixed results in February compared to January. Most areas saw total sales drop but home values increase. For the entire market, average home prices moved up approximately $2700 (not seasonally adjusted).

As always, if you have any questions, please don’t hesitate to contact me.

February 2010

AREA SALES AVERAGE DoM
0 Central Downtown District 10 Down Arrow $134,550 Down Arrow 102 Up Arrow
1 Downtwn/Old&WestLouisville/Shively 59 Up Arrow $42,211 Down Arrow 35 Down Arrow
2 Butchertown/Highlands/Germantwn 53 Down Arrow $202,696 Up Arrow 88 Up Arrow
3 Brownsboro/StMatthews 38 Up Arrow $257,989 Up Arrow 106 Up Arrow
4 Pleasure Rdg/Valley Station 42 Up Arrow $89,560 Up Arrow 86 Up Arrow
5 Auburndale/Fairdale/Iroquois Park 34 Down Arrow $116,618 Up Arrow 114 Up Arrow
6 Buechel/Highview/Okolona/FernCreek 75 Down Arrow $124,810 Down Arrow 77 Up Arrow
7 FernCrk/Hikes Point/Jeffersontown 60 Down Arrow $190,029 Up Arrow 71 Down Arrow
8 Hurstbourne/Middletwn/Anchrg 44 Down Arrow $260,789 Down Arrow 102 Up Arrow
9 Anchrg/Lyndn/Prospct/UpRvrRd 45 Down Arrow $212,863 Up Arrow 105 Up Arrow
11 Bullitt Co. 48 Up Arrow $135,864 Up Arrow 81 Down Arrow
19 Spencer Co. 12 Down Arrow $160,986 Up Arrow 116 Up Arrow
20 Oldham Co. – North 16 Down Arrow $281,576 Up Arrow 92 Down Arrow
21 Oldham Co. – South 16 Down Arrow $187,825 Down Arrow 91 Down Arrow
30 Shelby Co. 20 Down Arrow $195,555 Up Arrow 123 Up Arrow

Source: MetroSearch, Inc. Values are not warranted by LHB.

Is Louisville Real Estate Up or Down?

Housing news still dominates a large portion of our nation’s economic mindset. On Wednesday, Reuters writes New home sales hit record low, prices tumble.

The Commerce Department said on Wednesday sales of newly built single-family homes dropped 11.2 percent to an annual rate of 309,000 units, the lowest level since records started in 1963, from 348,000 units in December.

Let’s be clear, this statistic is talking about new construction, not sales of existing homes. News isn’t that bleak here in Louisville. Not according to the Courier-Journal who published Louisville Realtors continue sales gains in January this week.

Members of the Greater Louisville Association of Realtors sold 702 houses and condos in January, a 33 percent increase from a year earlier.

It marks the group’s seventh-straight month of double-digit percentage gains from a year earlier.

Color me confused because the very next paragraph states:

With only 529 sales, January 2009 was the slowest month in at least five years, said Lisa Stephenson, executive vice president of the Realtors group.

That seems to contradict the opening paragraphs. When in doubt, I look at the data itself.

Louisville KY Home Sales: January 2009
Number of Houses Sold This Month – 529
Average Selling Price This Month – $160,018

Louisville KY Home Sales: January 2010
Number of Houses Sold This Month – 702
Average Selling Price This Month – $155,995

These statistics should represent residential sales of houses, condos and townhomes in the Greater Louisville MLS.

Just what we’d guess, more sales but at lower prices. Not sure where some of these folks get their data.

Louisville Housing Market Gets National Praise

The Louisville real estate market gets a compliment in the San Francisco newspaper with this snippet.

Other cities which Bay Area residents, weary of the local housing market bubble, might consider relocating to include: Columbus, Ohio, whose suburbs are job-rich and where 87% of middle-income families can afford a home; Louisville, Ky. where foreclosure rates are very low and there is a stable housing market; Houston, Texas where the energy sector has kept jobs going; and Indianapolis, Minneapolis and St. Louis which made the ranking in spite of middling home-price forecasts because housing in these locations is affordable.

Even better is Louisville ranking #2 in Forbes’ Top Ten Best Housing Markets Across America.

  1. Pittsburgh, PA
  2. Louisville, KY
  3. Houston, TX
  4. Minneapolis, MN
  5. Indianapolis, IA
  6. Memphis, TN
  7. Columbus, OH
  8. St. Louis, MO
  9. Dallas/Ft. Worth, TX
  10. Austin, TX

I’d say we have a lot to be appreciative here in Louisville. What do you think?

Update: The CJ now makes mention of Louisville and our #2 ranking in Forbes with Forbes.com: Louisville housing market second best in nation.

Home Prices in Louisville Trending Upward

After a couple of down years, it looks like home values in Louisville are heading back up. This information comes from First American CoreLogic.

Home Prices in Louisville-Jefferson County Increase

In Louisville-Jefferson County, home prices, including distressed sales, increased by 0.63 percent in December 2009 compared to December 2008. This compares to November’s year-over-year HPI, which was 0.06 percent.** Excluding distressed transactions, year-over-year HPI for December is 0.11 percent, compared to November which was -0.87 percent.

What’s even better is that they’re forecasting a good 2010. Here’s the 12 Month Forecast, starting December 2009 to December 2010.

Kentucky 3.2% [Single Family Combined] 2.5% [Single Family Combined Excluding Distressed]
National 2.7% [Single Family Combined] 3.5% [Single Family Combined Excluding Distressed]

Louisville KY Home Sales: January 2010

January was down from December in large part due to the weather, but also from uncertainty about the economy. There are signs that things will be picking up as we head into the Spring.

As always, if you have any questions, please don’t hesitate to contact me.

January 2010

AREA SALES AVERAGE DoM
0 Central Downtown District 11 Up Arrow $165,907 Up Arrow 90 Up Arrow
1 Downtwn/Old&WestLouisville/Shively 56 Down Arrow $46,375 Down Arrow 64 Down Arrow
2 Butchertown/Highlands/Germantwn 54 Down Arrow $159,210 Down Arrow 52 Down Arrow
3 Brownsboro/StMatthews 35 Down Arrow $201,374 Down Arrow 104 Up Arrow
4 Pleasure Rdg/Valley Station 39 Down Arrow $88,432 Down Arrow 51 Down Arrow
5 Auburndale/Fairdale/Iroquois Park 40 Down Arrow $94,728 Down Arrow 74 Up Arrow
6 Buechel/Highview/Okolona/FernCreek 87 Down Arrow $128,679 Up Arrow 73 Down Arrow
7 FernCrk/Hikes Point/Jeffersontown 62 Down Arrow $165,544 Up Arrow 92 Up Arrow
8 Hurstbourne/Middletwn/Anchrg 56 Down Arrow $285,128 Up Arrow 85 Down Arrow
9 Anchrg/Lyndn/Prospct/UpRvrRd 51 Down Arrow $236,834 Up Arrow 82 Down Arrow
11 Bullitt Co. 46 Up Arrow $135,667 Up Arrow 90 Up Arrow
19 Spencer Co. 15 Up Arrow $122,507 Down Arrow 80 Up Arrow
20 Oldham Co. – North 20 Down Arrow $249,562 Down Arrow 98 Up Arrow
21 Oldham Co. – South 17 Down Arrow $217,409 Down Arrow 105 Down Arrow
30 Shelby Co. 22 Down Arrow $179,384 Up Arrow 111 Up Arrow

Source: MetroSearch, Inc. Values are not warranted by LHB.

The Future of Louisville Real Estate, 2010 Edition

At the turn of every year, we like to look back and reflect on the year past. Here at Louisville Homes Blog, we’re no different. But it’s also important to look forward and see how to best take advantage on the real estate market for your own situation.

Predicting the future is always a tricky task but there are some very bright minds at the National Association of Realtors (NAR) who make it their job to study the data.

Now, this data isn’t specific to Louisville, KY but we can still learn a few things from it. Here are some of the high points from a recently published NAR article.

National: Existing Homes

2008 2009 2010*
Home Sales (millions) 4,913 5,011 5,594
Home Prices $198,100 $172,600 $178,800
Change (in price) -9.5% -12.9% 3.6%


National: New Homes

2008 2009 2010*
Home Sales 485,000 397,000 549,000
Home Prices $232,100 $211,100 $219,000
Change (in price) -6.4% -9.0% 4.2%
* Projected

These national numbers are interesting but don’t translate well for Louisville real estate. Let’s look at data from the Louisville MLS.

Louisville Kentucky: All Homes

2008 2009
Total Home Sales 11,369 11,651
Average Price $165,746 $158,337


So from 2008 to 2009, the total of all home sales went up 2.5%, while prices dropped 4.5%.

If we use National projections for 2010, which I don’t necessarily recommend but it’s a fun exercise, then Louisville should have approximately 13,002 sales and average prices would rise to $164,037 for our market. Check back next January to see how close we were.

Greater Louisville 3Q Improves in 2009

I’ve got another post on deck, but before we look forward I wanted to highlight some data I just found about Louisville’s 3rd Quarter of 2009 in real estate.

The first table shows total units for Greater Louisville, Region 3 of Kentucky.

# SOLD 3Q 2009 # SOLD 3Q 2008 # SOLD %
3,519 2,993 17.57%


As you can see, that’s a pretty big jump; higher than many projected. Which brings us to the second table. Why was the increase that large? Probably because prices dropped so much.

Median Price 3Q 2009 Median Price 3Q 2008 Median Price %
$136,800 $140,000 -2.29%
Based on information from local REALTOR associations/MLSs for the periods of July 1 – September 30, 2008 and 2009.

It’ll be interesting to see what prices did over the entire year. Be sure to check back and I promise to keep throwing more Louisville real estate statistics your way.

Louisville KY Home Sales: December 2009

Numbers are down for December, as expected, especially after a stronger than normal November. But maybe not as down as one might have guessed.

As always, if you have any questions, please don’t hesitate to contact me.

December 2009

AREA SALES AVERAGE DoM
0 Central Downtown District 6 Down Arrow $135,721 Down Arrow 25 Down Arrow
1 Downtwn/Old&WestLouisville/Shively 74 Up Arrow $46,566 Down Arrow 77 Up Arrow
2 Butchertown/Highlands/Germantwn 68 Down Arrow $178,766 Up Arrow 76 Up Arrow
3 Brownsboro/StMatthews 37 Down Arrow $244,747 Up Arrow 82 Up Arrow
4 Pleasure Rdg/Valley Station 52 Down Arrow $102,138 Down Arrow 67 Up Arrow
5 Auburndale/Fairdale/Iroquois Park 55 Down Arrow $102,387 Down Arrow 69 Down Arrow
6 Buechel/Highview/Okolona/FernCreek 96 Down Arrow $116,143 Down Arrow 93 Up Arrow
7 FernCrk/Hikes Point/Jeffersontown 111 Down Arrow $164,247 Down Arrow 80 Up Arrow
8 Hurstbourne/Middletwn/Anchrg 79 Up Arrow $226,479 Down Arrow 85 Down Arrow
9 Anchrg/Lyndn/Prospct/UpRvrRd 63 Down Arrow $222,647 Down Arrow 83 Down Arrow
11 Bullitt Co. 81 Up Arrow $134,269 Down Arrow 73 Down Arrow
19 Spencer Co. 17 Up Arrow $161,819 Down Arrow 77 Down Arrow
20 Oldham Co. – North 37 Up Arrow $260,946 Down Arrow 86 Down Arrow
21 Oldham Co. – South 27 Up Arrow $211,465 Up Arrow 91 Down Arrow
30 Shelby Co. 37 Down Arrow $145,713 Up Arrow 131 Up Arrow

Source: MetroSearch, Inc. Values are not warranted by LHB.

Louisville Mortgage Rates Expected to Rise in 2010

All good things must come to an end. That’s how the saying goes anyway. Today this concept applies to our 40-year, low mortgage interest rates. I’ve published this chart before, but it bears a repeat visit.

Since 1974, interest rates have not been lower than they were in 2009.

Many experts believe that rates will rise in 2010. America’s #1 Mortgage Broker posted about this on ActiveRain just this week. He believes rates will rise to 6% by March. Here is his reasoning:

Mortgage rates have been steadily climbing, from a low of 4.5% around November 27, 2009 to above 5% on December 22, 2009. For the past two months I’ve been warning that this will eventually happen. It’s not because the economy is recovering; it isn’t recovering. The reason mortgage rates will rise to 6% or above, soomer rather than later is because that is the “natural” market.

What does this mean to you? Well, maybe nothing but then again, maybe everything. If you refinanced your Louisville home since rates have been down under 5%, you’re a winner! If not, I recommend that you speak with your loan specialist as soon as possible.

If you’re considering a move, there’s no time like the present. Here’s an example from a standard mortgage calculator:

Just as an example, let’s say you are borrowing $180,000.00 for 30 years with an interest rate of 5.000%. If the value of your home is $200,000.00, your property taxes $3,000.00 per year and your insurance is $1,500.00 per year, you can expect to be making a total payment of $1,416.28. This is because you need to pay $966.28 toward the actual loan, plus $250.00 for real estate taxes and $125.00 toward insurance.

Now up the interest rate to 6% and see what it looks like. The payment jumps to $1,529.19 which translates to an extra $40,647.60 in interest payments over the life of the loan. That’s not pocket change.

If you’re looking for a Louisville Realtor®, I’d love to work with you. Drop me a line.

Have a Merry Christmas!

Louisville #37 in Nation for Housing Recovery

There is a lot of great real estate information on Forbe’s site. Today we’ll look at America’s Fastest-Recovering Cities. Louisville comes in at 37th, ahead of Indianapolis (44), Columbus (47), Cincinnati (55), Memphis (69) and Dayton (89) but behind Nashville (19) and Knoxville (32). Lexington did not make the list.

Louisville’s Sales Rate Rank is 3rd, which is incredible, while our Gross Metropolitan Product is 85th and really drags down our overall ranking. It’s also interesting to see that foreclosures in Louisville are only a small percentage of overall sales.

Visit their full list for sortable data and ranking methodology.

Louisville KY Home Sales: November 2009

Possibly in reaction to a strong October, November numbers were, as expected, down. Following yearly trends, December should also be down as well, but according to many experts, 2010 should show some positive growth.

As always, if you have any questions, please don’t hesitate to contact me.

November 2009

AREA SALES AVERAGE DoM
0 Central Downtown District 6 Down Arrow $286,000 Up Arrow 184 Up Arrow
1 Downtwn/Old&WestLouisville/Shively 61 Down Arrow $59,669 Up Arrow 71 Up Arrow
2 Butchertown/Highlands/Germantwn 79 Down Arrow $178,683 Down Arrow 54 Down Arrow
3 Brownsboro/StMatthews 52 Down Arrow $198,109 Down Arrow 80 Up Arrow
4 Pleasure Rdg/Valley Station 86 Up Arrow $106,308 Down Arrow 66 Down Arrow
5 Auburndale/Fairdale/Iroquois Park 82 Down Arrow $119,621 Up Arrow 97 Up Arrow
6 Buechel/Highview/Okolona/FernCreek 126 Down Arrow $123,810 Up Arrow 76 Down Arrow
7 FernCrk/Hikes Point/Jeffersontown 129 Down Arrow $164,435 Up Arrow 72 Up Arrow
8 Hurstbourne/Middletwn/Anchrg 76 Down Arrow $239,938 Down Arrow 88 Down Arrow
9 Anchrg/Lyndn/Prospct/UpRvrRd 99 Down Arrow $244,364 Down Arrow 91 Down Arrow
11 Bullitt Co. 67 Down Arrow $141,394 Down Arrow 84 Up Arrow
19 Spencer Co. 11 Down Arrow $163,767 Up Arrow 92 Down Arrow
20 Oldham Co. – North 35 Up Arrow $283,600 Up Arrow 127 Up Arrow
21 Oldham Co. – South 24 Down Arrow $202,838 Down Arrow 106 Up Arrow
30 Shelby Co. 41 Up Arrow $143,388 Up Arrow 83 Down Arrow

Source: MetroSearch, Inc. Values are not warranted by LHB.

Louisville #24 in Bang-For-The-Buck Rankings

I love lists! Can you tell? Some of LHB’s most popular posts are from my Top 10 Lists articles. Today, I’m talking about a recently releases Forbes.com list of Best Bang-For-The-Buck Cities for 2009.

Of interest to real estate enthusiasts is the full rankings which shows Louisville’s strong suit to be low real estate taxes. Forbes puts us at 17th best in the country in that category. Future job forecasts looks pretty good too at 21. Our current unemployment numbers, however, aren’t as promising with a ranking of 66. The list only includes the 100 largest Metropolitan Statistical Areas.

Louisville Homes Sales Up, Thanks to Tax Credit

Saw this article in the CJ citing the reason for the increased number of Louisville home sales in October.

First-time buyers taking advantage of a special tax credit gave sales of existing homes their biggest surge in a decade, raising hopes for a turnaround in the housing market and pleasing Wall Street.

Looking specifically at Louisville the increase was substantial.

The Greater Louisville Association of Realtors recently reported that its members sold 1,210 homes in October, a 26 percent increase over a year earlier. The median price for homes sold by GLAR members was $133,500, also an increase from October 2008.

Critics say that these buyers were planning on buying anyway just not this early. Now that the tax credit has been extended, it’ll be interesting to see how sales move going into 2010.

Louisville KY Home Sales: October 2009

In all but one of the Jefferson County areas home sales were up in October. That goes against seasonal trends where activity tapers off as we head into the Holidays. Average home sale prices were generally up as well, compared to September.

As always, if you have any questions, please don’t hesitate to contact me.

October 2009

AREA SALES AVERAGE DoM
0 Central Downtown District 8 Up Arrow $201,431 Up Arrow 85 Down Arrow
1 Downtwn/Old&WestLouisville/Shively 79 Down Arrow $42,525 Up Arrow 57 Down Arrow
2 Butchertown/Highlands/Germantwn 84 Up Arrow $181,561 Up Arrow 71 Up Arrow
3 Brownsboro/StMatthews 74 Up Arrow $209,440 Up Arrow 64 Down Arrow
4 Pleasure Rdg/Valley Station 82 Up Arrow $106,503 Up Arrow 82 Up Arrow
5 Auburndale/Fairdale/Iroquois Park 84 Up Arrow $109,830 Down Arrow 73 Up Arrow
6 Buechel/Highview/Okolona/FernCreek 146 Up Arrow $123,125 Up Arrow 83 Down Arrow
7 FernCrk/Hikes Point/Jeffersontown 135 Up Arrow $155,343 Down Arrow 62 Down Arrow
8 Hurstbourne/Middletwn/Anchrg 95 Up Arrow $246,533 Down Arrow 103Up Arrow
9 Anchrg/Lyndn/Prospct/UpRvrRd 106 Up Arrow $264,781 Down Arrow 93 Down Arrow
11 Bullitt Co. 70 Down Arrow $167,793 Up Arrow 81 Down Arrow
19 Spencer Co. 19 Down Arrow $148,361 Down Arrow 166 Up Arrow
20 Oldham Co. – North 30 Down Arrow $283,302 Up Arrow 110 Down Arrow
21 Oldham Co. – South 41 Up Arrow $243,695 Up Arrow 80 Up Arrow
30 Shelby Co. 39 Up Arrow $141,699 Down Arrow 97 Down Arrow

Source: MetroSearch, Inc. Values are not warranted by LHB.

Louisville Housing Market Getting Mixed Signals

The WSJ published this piece today—Home Prices Rise, Yet Confidence Fades—which highlights just how tricky things are in the housing market today. As always, you want to look at home buyers and sellers separately.

For home sellers, the fourth straight month of home value increases is a breath of fresh air after all they’ve been through. Home values are still down from highs that occurred in 2005 and 2006 (depending on market) but it’s most assuredly a step in the right direction. As prices continue to rise, expect to see more sellers list their homes, especially in the Spring.

The Louisville housing market follows Atlanta more closely than the national averages so we didn’t see the marked highs or lows seen in the national index.

Home buyers, on the other side, are seeing the end of bargain basement prices that many have enjoyed during this housing downturn. As prices return to more normal levels, Louisville home buyers will now need to pay a little more to get their choice home.

Inventory levels are still high (7,754 active listings for single-family homes in the Louisville MLS) and interest rates are just a point higher than the 30-year lows we experienced in 2003 (see below). In this environment, home buyers are still getting two of the three important factors to lean in their favor.

As you can tell, U.S. mortgage rates are still amazingly attractive.

The other piece of news in the WSJ article highlights that consumer confidence is down and appears to be dropping. This makes sense in light of the current unemployment situation but also points to consumers having little optimism about the direction our economy is heading. The current administration is spending money at a record pace while small business continue to bear too large a tax burden to truly foster innovation on a large scale.

Based on this, all consumers are being wary about how they spend their hard-earned dollars and understandably so. A great deal will always depend on your particular situation.

If you are considering a real estate transaction, my best advice is to find a trusted Realtor® and chat with him or her about your home and future plans. If you’d like to contact me, I always welcome emails from my readers.

Louisville Ranks 2nd in Home Price Gains

Had to hunt to find this juicy tidbit about the nation’s top 15 home price gainers. The following appeared in yesterday’s Business Courier.

Other regional metros in the top 15 include Louisville, ranking second with a 19.7 percent quarter-over-quarter gain; and Columbus, at No. 5, up 17 percent.

It appears that the Midwest is leading the housing recovery and Louisville KY near the top of it. Great news for Louisville home sellers!

Louisville KY Home Sales: September 2009

Numbers are mixed compared to August which actually isn’t too bad considering that each year numbers typically drop off when summer is over and school starts. Like always, if you have any questions, please don’t hesitate to contact me.

September 2009

AREA SALES AVERAGE DoM
0 Central Downtown District 8 Up Arrow $160,089 Up Arrow 164 Up Arrow
1 Downtwn/Old&WestLouisville/Shively 84 Up Arrow $47,110 Up Arrow 71 Down Arrow
2 Butchertown/Highlands/Germantwn 82 Up Arrow $174,103 Down Arrow 66 Up Arrow
3 Brownsboro/StMatthews 66 Down Arrow $207,960 Down Arrow 73 Up Arrow
4 Pleasure Rdg/Valley Station 69 Up Arrow $99,848 Down Arrow 73 Down Arrow
5 Auburndale/Fairdale/Iroquois Park 71 Up Arrow $115,532 Up Arrow 59 Down Arrow
6 Buechel/Highview/Okolona/FernCreek 129 Down Arrow $122,406 Up Arrow 103 Up Arrow
7 FernCrk/Hikes Point/Jeffersontown 124 Down Arrow $161,737 Down Arrow 71 Down Arrow
8 Hurstbourne/Middletwn/Anchrg 75 Down Arrow $194,034 Down Arrow 83Down Arrow
9 Anchrg/Lyndn/Prospct/UpRvrRd 93 Up Arrow $225,000 Down Arrow 102 Up Arrow
11 Bullitt Co. 82 Up Arrow $145,298 Up Arrow 97 Up Arrow
19 Spencer Co. 21 Down Arrow $175,813 Down Arrow 133 Down Arrow
20 Oldham Co. – North 37 Down Arrow $229,825 Down Arrow 90 Down Arrow
21 Oldham Co. – South 34 Down Arrow $207,170 Down Arrow 79 Down Arrow
30 Shelby Co. 46 Up Arrow $157,035 Down Arrow 107 Down Arrow

Source: MetroSearch, Inc. Values are not warranted by LHB.

Louisville Home Prices Rise

Quick little story in the CJ today titled Home Prices Rose in Most Major Cities in July. Here’s their basis:

The Standard & Poor’s/Case-Shiller home price index of 20 major cities rose 1.2 percent from June to a reading of 143.05, according to seasonally adjusted data released Tuesday. Though home prices are still 13.3 percent below July a year ago, the annual declines have slowed in all 20 cities for the sixth straight month.

We’re still a little way from the values of two years ago, but this is another indicator that the housing market appears to have reached its bottom. I’ll be posting September data in few days.

Louisville KY Home Sales: August 2009

Fairly large drop from July but many experts believe we’ve reached the bottom of this housing recession. We’ll see if their prediction prove true.

Like always, if you have any questions, please don’t hesitate to contact me.

August 2009

AREA SALES AVERAGE DoM
0 Central Downtown District 3 Down Arrow $143,333 Up Arrow 82 Up Arrow
1 Downtwn/Old&WestLouisville/Shively 65 Down Arrow $47,028 Down Arrow 80 Down Arrow
2 Butchertown/Highlands/Germantwn 75 Down Arrow $188,340 Up Arrow 52 Down Arrow
3 Brownsboro/StMatthews 71 Down Arrow $230,092 Up Arrow 71 Up Arrow
4 Pleasure Rdg/Valley Station 62 Down Arrow $104,477 Up Arrow 89 Up Arrow
5 Auburndale/Fairdale/Iroquois Park 63 Down Arrow $104,816 Up Arrow 69 Down Arrow
6 Buechel/Highview/Okolona/FernCreek 134 Down Arrow $117,870 Down Arrow 74 Up Arrow
7 FernCrk/Hikes Point/Jeffersontown 125 Down Arrow $174,676 Up Arrow 87 Up Arrow
8 Hurstbourne/Middletwn/Anchrg 84 Down Arrow $256,290 Down Arrow 88Up Arrow
9 Anchrg/Lyndn/Prospct/UpRvrRd 86 Down Arrow $225,955 Down Arrow 70 Down Arrow
11 Bullitt Co. 65 Down Arrow $144,046 Down Arrow 82 Down Arrow
19 Spencer Co. 22 Down Arrow $186,302 Down Arrow 142 Up Arrow
20 Oldham Co. – North 39 Up Arrow $298,141 Down Arrow 101 Down Arrow
21 Oldham Co. – South 34 Down Arrow $223,055 Up Arrow 95 Up Arrow
30 Shelby Co. 44 Up Arrow $157,701 Down Arrow 116 Down Arrow

Source: MetroSearch, Inc. Values are not warranted by LHB.

Louisville Beats Nation as Values Level Out

The data isn’t very different from when I posted Home Prices Drop Nationally, Louisville Holds Steady but with, perhaps a slightly better result.

First American Core Logic puts out reports from time to time and just recently published, National Home Price Declines Continue to Improve. I already know that the national numbers have little effect on Louisville’s market, but they do a good job of supplying data for many metro cities. Here’s the part I really liked.

In Louisville/Jefferson County, home prices have decreased 1.79 percent in May compared to a year ago. In April 2009, Louisville/Jefferson County showed an increase of 0.00 percent compared to one year prior.

So this means our price drop, albeit nothing to be happy about, appears to be coming to an end. Here’s hoping we’ll see a quick return to our steady, annual increases of 4%-5% here in Louisville, which are the norm going back 40 years.