With the start of a new month, comes the July 2018 Louisville real estate report. It was another strong month for real estate here in Louisville Kentucky.
Home sales across the county were neck and neck with the previous year. If you’re interested in that scroll down to the bottom. But for each of our monthly reports, there’s a bit of a different story. Some are up and down are down. Variety is the spice of life!
With mortgage rates inching up and school about the start, home sales continue to be quite strong. While at the same time, home sale prices are also increasing. In some of these MLS areas… they’re increasing dramatically.
July 2018 Louisville Real Estate Report
A very strong month here for Area 2 with both metrics being quite strong. After dipping prices to start the year, Summer sales have helped to bring the trend-line higher.
Like Area 2, our St. Matthews area also had home sales that surpassed the previous year. Sale prices dipped a bit in July but are still quite healthy.
Home values are the big story in Highview and Okolona. Because these homes are priced in the areas that are in super demand, they are selling FAST and selling at much higher prices than in the past. For more information about how housing inventory is affected by price, check out Available Homes for Sale in Louisville Kentucky, a post I wrote on my personal site.
Check out that median sales price! Whoa, Nellie! Highest on record and it’s safe to say that if there were more homes available in Jeffersontown, they would be sold as well.
The trend-line of median home sale prices has leveled off after strong growth over the past year. Home sales in July surpassed June but fell a bit short of the previous year.
After three good months for prices, July saw them plummet. Home sales in Prospect were up a few units though.
June was a stellar month for sales. July couldn’t keep pace but prices were higher for the third straight month.
Similar to Area 7, South Oldham saw home sale prices skyrocket to new heights. Sales continue to drag behind last year’s totals.
Quarterly LHB Housing Reports
All of the quarterly Louisville real estate reports are now updated through Q2 of 2018. If you have any specific questions, please let me know.
- 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
July was another strong month for both home sales in Louisville and the sale prices.
For the month, there were 1,191 properties that exchanged hands. That’s just -0.58% less than last July. Pretty remarkable really, given our super low inventory at the lower price tiers.
The median sales price for July 2018 was $194,500. That’s $2,000 more than June. And it’s an incredible $18,300 higher than last July.
Keep in mind, every home is different so don’t think that your home appreciated that much in a single year. My best guess for 2018’s annual appreciation in Louisville should fall around 5%. If your home is valued at $400,000 then 20 grand might be just about right.
If you’re interested in the value of your home, I can create a full CMA at no charge. It’s my pleasure and there are no strings attached. I also still some of my 2018 promotional incentive that will save you a great deal of money if you’re interested in selling your Louisville home.