Welcome to the July 2017 Louisville Real Estate Update! For most of the areas in our monthly reports, home sales couldn’t match last year’s record totals. Only Area 6 (Okolona, Newburg, Highview, and Fern Creek), Area 2 (Highlands, Butchertown, and Germantown) and Area 20 (North Oldham County) accomplished this feat.
Even still, for the year 2017 isn’t that far behind 2016 in terms of home sales.
The real story is how home prices continue to climb to new heights. Louisville is traditionally a 4% yearly appreciation city. I wouldn’t be surprised if this year that number comes closer to 6.5%.
Certain parts of the city are really seeing prices climb. Namely:
- St. Matthews
- Crescent Hill
- Mockingbird Gardens
- Mockingbird Valley
- Indian Hills
- Cherokee Gardens
- Rolling Fields
If you are a homeowner thinking about selling, I’m extending my commission rebates for another month. Call and take advantage of this opportunity to save money today!
After a rather large dip in June, Area 2 bounces back with improved home sales and an uptick in the median sales price.
Prices are looking strong here in Area 2 but July marks the fourth straight month where home sales couldn’t beat the previous year.
Similar to Area 2, we see a better July in terms of sales activity. The trend-line just keeps moving higher!
The median sales price in July was identical to June and helps push the trend-line up. Sales weren’t off by much compared to 2016.
Home sales just missed last year’s July mark and for the year Area 8 is keeping pace with the record 2016. Maybe that’s because prices aren’t completely skyrocketing here like in other parts of Louisville.
July was a decent month for Area 9, not the powerhouse that June was but respectable. Prices reached the highest point of the year.
Area 20 was one of the few areas where home sales in 2017 surpassed the mark set during the previous year. Prices gained ground as well.
Prices moved much higher in July for Area 21 but sales continue their losing streak, where it’s been since October 2016 since a sales total surpassed the previous year.
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
For the year 2017 is just shy of the grand total of homes sold in 2016. July just barely missed tying the total of the previous year.
It looks like prices will start to move lower as we head into the Fall. Although, stranger things have happened. The trend-line for Louisville home prices looks solid.
Given current inventory levels, it’s still a seller’s market where new highs are being set in most Louisville neighborhoods.
Do you know what your Louisville home is worth? If you don’t and would like to, please contact me. Always happy to help!