Welcome! This is our monthly Louisville real estate update for the time period ending September 2017. And when I say Louisville, I mean, Kentucky and not Colorado. But you’ve probably gathered as much.
Housing inventory in our city remains historical low. Buyers went crazy in August but September corrected that gain. Home buyers are still buying homes in Louisville but mostly at the lower price tiers.
The areas that had the biggest gains in home sale prices were:
- Area 2: Highlands, Butchertown, Germantown, Tyler Park
- Area 9: Prospect, Anchorage, Lyndon, Norton Commons
Oldham County didn’t perform quite so well in September as it did in August, so I guess you’d have to say it was down. This is especially true when you look at their sale prices.
No area truly performed great in terms of sales but on the whole, September 2017 was just slightly behind the previous year.
September was very good to Area 2 where sales totals matched the previous year and home sale prices were just shy of the highest of the year.
Home prices are moving lower here, as you would expect, heading into the Winter months, but maybe too sharply. Home sales came down after a very strong August.
Overall good month for Area 6. That one-year trend line continues to reach higher and higher. Sales came up just short of last year’s mark but still were quite good.
Homes sales were good in September for Area 7 in Louisville’s Jeffersontown. Prices came back to Earth after an interstellar couple of months.
Area 8 shows that the higher price points in our city are having a bit tougher time to maintain these higher prices. For the year homes in this area aren’t much different than in 2016. Sales are still keeping pace with last year.
Similar to Area 8, we see things leveling off on our trend-line. Tough to compete sales-wise with last year’s September which was outrageous.
September showed a very sharp drop in home prices on a smaller quantity of sales. Nothing to truly be worried about but something to keep an eye on going forward.
Similar to North Oldham, South Oldham also saw a rapid drop in home sales prices in September. Sales totals just came up short compared to the previous year.
I’ve just updated all of our quarter MLS areas through Q3 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
Other than a few areas, most of Louisville saw home sale prices continue to move higher in September. I expect this won’t continue into October as seasonality has its way.
After a very strong August in home sales, September saw a more realistic outcome. Still, for the year 2017 is neck-and-neck with last year’s record totals.
Would you like to know the value of your home? Now is a great time to sell your Louisville home.