Louisville Housing Market 7 Year Report, Period End March 2011
Posted by Tre Pryor, Editor-in-Chief on April 04, 2011 in Trends/Statistics tagged with Louisville 7 year report, Louisville Home Sales
Each month we will bring to you an easy to read chart on how both Jefferson County and Oldham County home sales have performed over that past 7 years.
I took the time to add the historical trend-line to these charts as I do in our monthly Louisville Housing Reports. And the trend is nothing if not consistent. March home sales in Jefferson and Oldham Counties have, like previous months, trailed 2010 and only barely topped 2009.
With results similar to February, March saw only 621 homes sell in Jefferson County. This is 37% down from the high of 2006 and more than 10% down from last year.
In Oldham County only 41 properties sold during the month of March, 2011. This is a little over 16% drop from the previous year and not a positive outcome.
Here’s hoping the April rains won’t put as great a damper on house hunters as I’m worried they might.
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Tre…Really like the charts. It is about time someone shows real estate data in a way someone can actually used. I do have a question…Why 7 year “long term” outlook? Seven years looks really stable, In what time period does the outlook start to show more short term variation? Have you overlaid an average time on market with number of sales trend? Maybe even looking at this by pricing point vs other downturns to get an idea of when pricepoints adjusted for inflation would tend to recover. I ask because I heard a year ago that in a recession recovery that small cap stocks recover first….and they have. This lead me to my parallel question about real estate.
Hi Mark,
Thanks for the thoughtful questions.
There are a billion and one ways to slice and dice the data. I’ve tried to keep it to the point where the majority of folks can easily understand what is being presented.
You may find this piece holds an innovative perspective at traditional data: Unemployment Proves Bigger Factor in Louisville Real Estate Than Rates, Prices