Welcome to our Louisville Real Estate Update for the month of January 2017. This monthly post includes Louisville home sales numbers along with price data divided up by our Greater Louisville Association of Realtors (GLAR) MLS areas. Click the map to see where your Louisville home is located.
Louisville Real Estate Update (March 2016 – February 2017)
Not stellar but a very strong month for Louisville real estate considering our almost complete lack of housing inventory. Almost matched last year’s record numbers with very little in the cupboard.
A few areas saw prices decline but that’s somewhat normal in Winter months. Expect those to rebound further in March.
If you have a question about the value of your home, I’m always happy to help. Contact me directly and I’ll come out and meet you, view your property then give you the true market value of your home. No strings attached.
February was not kind to Area 2 with both metrics falling steeply. Prices do tend to decline during the Winter and last February was unusually strong so maybe it’s not as bad as it looks.
Area 3 does fairly well this month as higher priced homes didn’t take the hit that the super low have, which helps this MLS area. Price trend just keeps moving up.
If they had more homes available to sell, this area would sell them. Prices are struggling to keep pace.
Looks at that price trend line! Price just continue to rise and sales are on pace with last year’s record.
Very strong month for Area 8 with both metrics performing well in February.
Similar to Area 2, we see some major price correction here even as sales continue their 4th straight month of beating the previous year.
Oldham County home sales really have a great deal of potential, especially if there were some sub $300k options available to buyers. Maybe with current land prices, developers just can’t make the numbers work.
About time prices move higher here in South Oldham but it comes at the expense of even lower sales. Just 20 units in an entire month is not going to win any awards.
Other Louisville real estate update reports for the remaining MLS areas are updated each quarter. The following areas were just completed through Q4 of 2016.
- 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
Not the best month for sales activity but not horrible either. Prices are moving lower but I expect they will rebound in March and start climbing yet again.
Selling your home in 2017 will not be very difficult unless it’s a total fixer. There are still lots of buyers looking to make a move. If you would like to know what your home is worth, please contact me. I’m always happy to help!