Louisville Homes Sales Up, Thanks to Tax Credit

Saw this article in the CJ citing the reason for the increased number of Louisville home sales in October.

First-time buyers taking advantage of a special tax credit gave sales of existing homes their biggest surge in a decade, raising hopes for a turnaround in the housing market and pleasing Wall Street.

Looking specifically at Louisville the increase was substantial.

The Greater Louisville Association of Realtors recently reported that its members sold 1,210 homes in October, a 26 percent increase over a year earlier. The median price for homes sold by GLAR members was $133,500, also an increase from October 2008.

Critics say that these buyers were planning on buying anyway just not this early. Now that the tax credit has been extended, it’ll be interesting to see how sales move going into 2010.

February 2009 Home Sales in Louisville, KY

Speaking plainly, more homes were sold faster in February than the previous month but at lower prices. If you haven’t read Louisville Kentucky Real Estate Review of 2008, I’d love to hear your feedback.

Like always, if you have any questions, please don’t hesitate to contact me.

February 2009

AREA SALES AVERAGE DoM
0 Central Downtown District 3 Down Arrow $29,833 Down Arrow 105 Up Arrow
1 Downtwn/Old&WestLouisville/Shively 76 Up Arrow $36,478 Down Arrow 78 Down Arrow
2 Butchertown/Highlands/Germantwn 41 Up Arrow $148,840 Down Arrow 69 Up Arrow
3 Brownsboro/StMatthews 26 Down Arrow $227,448 Down Arrow 88 Up Arrow
4 Pleasure Rdg/Valley Station 46 Up Arrow $79,446 Down Arrow 80 Down Arrow
5 Auburndale/Fairdale/Iroquois Park 40 Up Arrow $88,717 Down Arrow 68 Down Arrow
6 Buechel/Highview/Okolona/FernCreek 66 Up Arrow $124,574 Up Arrow 60 Down Arrow
7 FernCrk/Hikes Point/Jeffersontown 63 Up Arrow $176,042 Down Arrow 69 Down Arrow
8 Hurstbourne/Middletwn/Anchrg 49 Up Arrow $246,063 Down Arrow 92 Up Arrow
9 Anchrg/Lyndn/Prospct/UpRvrRd 41 Down Arrow $268,834 Down Arrow 92 Down Arrow
11 Bullitt Co. 44 Up Arrow $129,123 Down Arrow 81 Down Arrow
19 Spencer Co. 5 Down Arrow $93,500 Down Arrow 79 Down Arrow
20 Oldham Co. – North 21 Up Arrow $296,514 Up Arrow 127 Up Arrow
21 Oldham Co. – South 19 Up Arrow $186,194 Up Arrow 94 Down Arrow
30 Shelby Co. 28 Up Arrow $153,559 Down Arrow 92 Down Arrow

Source: MetroSearch, Inc. Values are not warranted by LHB.

January 2009 Home Sales in Louisville, KY

Even though things looked up nationally last month, here in Louisville home sale numbers dropped January 2009 compared to December 2008. The weather certainly didn’t help with the big ice storm keeping people indoors, as much as possible.

If you haven’t read it year, be sure to check out our Louisville Kentucky Real Estate Review of 2008.

Like always, if you have any questions, please don’t hesitate to contact me.

January 2009

AREA SALES AVERAGE DoM
0 Central Downtown District 5 Down Arrow $70,809 Down Arrow 41 Down Arrow
1 Downtwn/Old&WestLouisville/Shively 56 Down Arrow $37,127 Down Arrow 81 Up Arrow
2 Butchertown/Highlands/Germantwn 30 Down Arrow $155,069 Down Arrow 52 Down Arrow
3 Brownsboro/StMatthews 37 Up Arrow $242,254 Up Arrow 84 Up Arrow
4 Pleasure Rdg/Valley Station 28 Down Arrow $93,035 Down Arrow 83 Down Arrow
5 Auburndale/Fairdale/Iroquois Park 37 Up Arrow $90,351 Down Arrow 83 Up Arrow
6 Buechel/Highview/Okolona/FernCreek 52 Down Arrow $124,346 Down Arrow 81 Up Arrow
7 FernCrk/Hikes Point/Jeffersontown 54 Down Arrow $165,719 Down Arrow 83 Up Arrow
8 Hurstbourne/Middletwn/Anchrg 29 Down Arrow $287,636 Up Arrow 78 Down Arrow
9 Anchrg/Lyndn/Prospct/UpRvrRd 48 Down Arrow $328,328 Down Arrow 133 Up Arrow
11 Bullitt Co. 35 Down Arrow $135,357 Up Arrow 100 Up Arrow
19 Spencer Co. 11 Up Arrow $165,973 Up Arrow 138 Up Arrow
20 Oldham Co. – North 15 Down Arrow $273,610 Up Arrow 123 Up Arrow
21 Oldham Co. – South 10 Down Arrow $185,963 Down Arrow 125 Up Arrow
30 Shelby Co. 25 Up Arrow $167,578 Up Arrow 101Down Arrow

Source: MetroSearch, Inc. Values are not warranted by LHB.

December 2008 Home Sales in Louisville, KY

December 2008 was certainly not a good month for Louisville home sales compared to 2008 but after seeing what happened in November I was expecting more down entries. Here’s hoping 2009 will bring the upward trend some are predicting.

If you have any questions, please contact me.

December 2008

AREA SALES AVERAGE DoM
0 Central Downtown District 3 Down Arrow $47,633 Down Arrow 26 Down Arrow
1 Downtwn/Old&WestLouisville/Shively 81 Up Arrow $50,121 Up Arrow 71 Up Arrow
2 Butchertown/Highlands/Germantwn 45 Up Arrow $167,390 Down Arrow 66 Up Arrow
3 Brownsboro/StMatthews 30 Down Arrow $216,487 Down Arrow 79 Up Arrow
4 Pleasure Rdg/Valley Station 47 Up Arrow $100,160 Up Arrow 107 Up Arrow
5 Auburndale/Fairdale/Iroquois Park 34Down Arrow $107,989 Up Arrow 78 Up Arrow
6 Buechel/Highview/Okolona/FernCreek 98 Up Arrow $128,179 Up Arrow 81 Up Arrow
7 FernCrk/Hikes Point/Jeffersontown 59 Up Arrow $171,210 Down Arrow 74 Up Arrow
8 Hurstbourne/Middletwn/Anchrg 51 Up Arrow $236,240 Down Arrow 81 Down Arrow
9 Anchrg/Lyndn/Prospct/UpRvrRd 49 Up Arrow $354,042 Up Arrow 84 Up Arrow
11 Bullitt Co. 42 Down Arrow $117,370 Down Arrow 86 Down Arrow
19 Spencer Co. 10 Up Arrow $132,200 Down Arrow 54 Down Arrow
20 Oldham Co. – North 16 Down Arrow $247,738 Down Arrow 85 Down Arrow
21 Oldham Co. – South 28 Up Arrow $216,751 Up Arrow 89 Up Arrow
30 Shelby Co. 21 Up Arrow $154,433 Up Arrow 116 Up Arrow

Source: MetroSearch, Inc. Values are not warranted by LHB.