The counter is that many are further reducing their home’s asking price to make these deals happen. We can see it in the change in average home sold values compared to 12 months ago. Even still, this does appear to be a positive situation for the Louisville housing market.
Note: Below you’ll find our monthly reports for the following Louisville housing markets. These charts display Louisville home sales and Louisville median home values with a trend-line. This Louisville real estate area map defines the MLS areas.
Monthly Reports: Period Ending February 2012
Huge months for Area 2 in home sales, with 61 homes sold in February compared to the previous year’s 34. Unfortunately, home prices have continued to drop bringing the 1-year trend line about $13,000 lower than this time last year.
Like MLS Area 2, Louisville’s Area 3 saw a big jump in homes sold while home prices dropped a bit. From 29 homes sold last February, to 51 this February; that’s big! You have to go back to September to find a month where more homes were sold.
For the third straight months home sales are up in Area 9, with a 65% increase over the previous February. Home prices continue to disappoint but that could change as we enter the real estate selling season.
Whenever the number of homes sold is lower, the average of homes sold can vary greatly. Just look at chart above, where the average in January was $145,000 but jumped to $224,300 the following month. Homes sold fell 2 short of the previous February.
That’s it for this month! Please check back next month for more Louisville home sales charts.