Louisville Market Watch

Louisville Real Estate Update: October 2017

Welcome! This is our monthly Louisville real estate update for the time period ending October 2017. We outline how our regular monthly MLS areas performed in both home sales and sale prices compared to the previous 12 months.

Map of Louisville MLS Areas

We have charts for each of the GLAR MLS areas. Some are monthly, the rest quarterly. Click to enlarge the map and see where your home is located.

Because housing inventory in Louisville continues to be historically low, it’s surprising we’re even coming close to a new sales record… but it’s happening.

We’re clearly in a seller’s market so prices are moving higher, as expected. The higher price tiers don’t show the same dramatic increases but overall prices are moving up.

Move-in ready homes under $200,000 are selling quickly and if they are updated nicely, expect a sale the very first week, if priced appropriately.

The areas that had the best months in terms of home sales were:

Home prices in Area 3 took a giant hit during October. Could be a major market correction as the overall trend for this area is up a great deal for the year.

It’ll be interesting to see how November and December finish off the year. I don’t expect 2017 will surpass the record year last year, but you never know!

Charts of Louisville home sales and Louisville home prices for Highlands MLS area 2 for the 12 month period ending October 2017

Like most of the city, prices move higher despite seasonality. Home sales in Area 2 couldn’t keep pace with 2016.

 

Charts of Louisville home sales and Louisville home prices for St. Matthews MLS area 3 for the 12 month period ending October 2017

Big drop in home prices in October. We expect them to decline not fall out of the sky. Overall prices look fairly good though for Area 3 in terms of progress. Sales just missed matching last year’s total.

 

Charts of Louisville home sales and Louisville home prices for Okolona MLS area 6 for the 12 month period ending October 2017

It looks like October 2016 was an anomaly as it doesn’t follow standard operating procedure. This October is a different story and is what most might expect, in terms of sales. Prices are still surging this Fall after a strong Summer, as well.

 

Charts of Louisville home sales and Louisville home prices for Jeffersontown MLS area 7 for the 12 month period ending October 2017

After a stellar June and July, home prices have come back to Earth the past couple of months. Sales dipped a bit as well, as they have across the city.

 

Charts of Louisville home sales and Louisville home prices for Jeffersontown MLS area 7 for the 12 month period ending October 2017

Similar to Area 9, our Middletown, Anchorage MLS area performed well in October. Prices inching higher and sales beat the previous year for the first time since June.

 

Charts of Louisville home sales and Louisville home prices for Prospect MLS area 9 for the 12 month period ending October 2017

Not a bad month for Prospect real estate and the surrounding areas. Prices are still fairly high but not moving a great deal. Sales dipped a bit as expected.

 

Louisville Real Estate Update charts for North Oldham County MLS area 20 for the 12 month period ending October 2017

Unlike South Oldham, home sales in North Oldham actually surpassed the previous year. Prices continue to move higher with a bounce-back result in October.

 

Louisville Real Estate Update charts for South Oldham County MLS area 21 for the 12 month period ending October 2017

Prices up big! Sales down big! Couldn’t have been a more disparate result for South Oldham County real estate during October.

 


All of our quarter MLS areas are updated through Q3 of 2017. This means our Louisville real estate update reports are up-to-date. Here are the direct links to our quarterly reports.

All Jefferson County

Louisville Real Estate Update charts for Jefferson County KY MLS area 30 for the 12 month period ending October 2017

After a strong sales month in August, both September and October couldn’t match the previous year. It appears now that 2017 will not be able to surpass our record-breaking year of 2016 in terms of total homes sold.

Prices took a strong hit in October across the city. For the year, our trend is still above 5%.

Would you like to know the value of your home? Now is a great time to sell your Louisville home.

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!