You’ve found the August 2017 Louisville Real Estate Update. The sales just keep on coming!
Even though housing inventory remains at historical lows, buyers are still buying. And since that’s the case, the this increased competition means higher sale prices.
The areas that performed the strongest in August were:
- Area 3: Clifton, Crescent Hill, and St. Matthews
- Area 7: Jeffersontown, Fern Creek, Hikes Point
- Oldham County North
- Oldham County South
No area performed badly, per se, but some couldn’t keep pace with last year’s sales mark. Even still, the market is moving higher. Jump on board or be left behind!
If you are considering a home sale, I will extend commission rebate for one more month for certain customers. Call and find out if this could be you!
Sales dipped a bit in August for Area 2 as prices are starting to settle down heading into the Fall.
Overall, check out this price progression for Area 3 in 2017! It’s been steeply moving higher. Has St. Matthews ever been more in demand? Didn’t really affect sales in August either.
Strong month for Area 6 as well. These lower priced homes are being gobbled up. This while prices continue to move higher at a steady clip.
Prices came back to Earth after a stellar June and July for prices. We see that sales were the highest they’ve been in August. Records just keep getting broken.
A fairly good month here in Area 8 even as sales dip a bit. Prices don’t have a lot of room to move higher apparently.
Home sale prices move lower in August for Area 9. Sales for the year are still out of this world. Clearly, buyer deman is there even though many sellers are staying put.
Similar to last month, sales were solid and prices are higher here in North Oldham.
Prices move higher in August after a very strong July. Now we see the trend-line start to turn higher.
I’ve just updated all of our quarter MLS areas through Q2 of 2017. This means our Louisville real estate update reports are completely up-to-date. Here are the direct links.
- Area 0: Central Downtown District, Old Louisville Homes
- Area 1: Downtown, Old Louisville, West Louisville Homes
- Area 4: Pleasure Ridge, Valley Station, Shively Homes
- Area 5: Auburndale, Fairdale, Iroquois Park, Shively Homes
- Area 11: Bullitt County Homes
- Area 19: Spencer County Homes
- Area 30: Shelby County Homes
All Jefferson County
Honestly, I didn’t see this coming. Sooner or later the sales activity is going to have to slow down. Homes for sale are still at historically low levels but that’s not stopping Louisville buyers!
Prices have moved lower after a strong Summer. I would expect this to continue into September and Fall. With rates still quite low, the only thing hindering a strong market is inventory. We’ll see if this starts to turn but not likely until Spring 2018.
Would you like to know what your home is worth? I’m always happy to help, please just contact me via the link below.