Louisville Market Watch

Louisville Real Estate Update: March 2016

Map of Louisville MLS AreasWelcome to our Louisville Real Estate Update! 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 a larger version to easily identify where in Louisville your home might be.

March was another strong month for Louisville real estate. Especially for home sales priced between $100,000 and $200,000. You can see it reflected in the charts for areas 7 (Jeffersontown), 6 (Okolona) and Areas 2 (Highlands).

Areas 8 & 9 didn’t perform as well, as fewer buyers are interested in luxury homes at this point in the year.

When looking at home prices, it’s more important to take the long term view and see where each MLS area is at the end of the red trend-line compared to the beginning. Area 8 is performing the worst in this regard.

All in all, most of the city is improving, just at different rates.

Louisville Real Estate Update (period ending March 2016)

Charts of Louisville home sales and Louisville home prices for Highlands MLS area 2 for the 12 month period ending March 2016.
Lookin’ good Area 2. Prices bouncing back a bit (and I fully expect them to continue to move higher) and home sales beating the previous year again.

Charts of Louisville home sales and Louisville home prices for St. Matthews MLS area 3 for the 12 month period ending March 2016.
Another tough month for Area 3 with home sales lagging behind the previous year for the second straight month. Prices dipping isn’t a major concern at this point in the year.

Charts of Louisville home sales and Louisville home prices for Okolona MLS area 6 for the 12 month period ending March 2016.
Not quite as spectacular as February but another really strong month for Okolona and the rest of Area 6 real estate. Look at that overall trend line!

Charts of Louisville home sales and Louisville home prices for Jeffersontown MLS area 7 for the 12 month period ending March 2016
Last month it was Area 6, this move the positive flow moved East to Area 7 where homes are selling like hotcakes. This while prices are moving higher and higher. Think you might to sell? Give me a call. I’ve sold 3 homes in the total of 7 days this month.

Charts of Louisville home sales and Louisville home prices for Middletown MLS area 8 for the 12 month period ending March 2016.
Area 8 is just not getting the job done. It could be we’re seeing a market correction from all the improvements we had in previous years but I think it’s more that the homes that are selling now are in lower price ranges and that’s not what Area 8 is about, for the most part.

Charts of Louisville home sales and Louisville home prices for Prospect MLS area 9 for the 12 month period ending March 2016
Similar scene in Area 9, as you might expect with similarly priced properties. Sales are off and prices are taking their seasonal dip.

Charts of Louisville home sales and Louisville home prices for North Oldham County MLS area 20 for the 12 month period ending March 2016
March was a strong month for North Oldham home sales absolutely wallopping the previous year. Home sale prices continue to remain flat, except for new construction.

Charts of Louisville home sales and Louisville home prices for South Oldham County MLS area 21 for the 12 month period ending March 2016
Giant leap in home prices for South Oldham while sales activity bounced back from an off month to improve over the previous year.

Our other Louisville real estate update reports for the remaining MLS areas are updated each quarter. The following were completed through Q1 of 2016.

Tre Pryor is the recognized real estate expert in Louisville. Contact Mr. Pryor to see if he currently has availability to serve your real estate needs.
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About the author

Tre Pryor, Editor-in-Chief

Tre Pryor is the recognized expert Louisville Realtor who can:
  • List and sell your current home in Louisville,
  • Help you purchase your next Louisville home, or
  • Guide you in your relocation to Louisville, Kentucky
» Contact Tre now!