No topic has dominated the media like the Covid-19 pandemic. Literally, in all of history. So how has the coronavirus and all the mandatory shutdowns affected the Louisville real estate market? As you’ll see, it’s a fairly substantial result!
In this month’s report, I’ve updated all of our monthly MLS areas, as well as, Jefferson County as a whole. Both the median home price charts and the number of the home’s sold charts for each area are live with up to the moment data. Let’s dig right in!
Jefferson County Housing Market Report
During March, sales did dip just a bit when compared to the previous year. But during April, this drop is now much more pronounced.
Last April, 1,018 homes were sold in Jefferson County. This year, that number dropped by 13.4 percent! There were only 882 transactions for the month. Not only was this lower by a significant amount compared to last year, but it even less than March’s total.
Looking at sale prices for homes that traded hands in April, the numbers aren’t so grim. The median home price for sales in April was $192,500. This was a decrease of $2,500 from the previous month. But it was a 7.5 percent increase year-over-year. So, there’s some positive news!
The overall activity has definitely decreased and will likely continue into the Summer months.
Louisville MLS Areas with Monthly Reports
Homes sold during the month of April were exactly the same as last year. But we see that prices haven’t returned to their on-season levels.
Here in Area 3—St. Matthews—home prices are improving. But sales continue to lag behind the previous year for the fourth straight month.
After a very strong March for prices, April returned to the trend-line. Sales during April were again behind last year’s numbers.
The increase in sale prices is truly impressive. Check out that trend! But home sales dropped big time in April after a solid March.
Fairly solid real estate month for Area 8 with sales matching the previous year two straight months and a bump for prices.
Home sale prices fail to improve here in Area 9 pushing the trend flat. This along with a giant slide for sales is not the best.
Let’s start with the good news, home sales in North Oldham county are on the upswing! Now the bad… prices continue to drop.
It looks like some of what North Oldham is doing has rubbed off on South Oldham. Very similar results for the month of April.
Louisville Real Estate Report: Quarterly MLS Areas
As of today, all of the quarterly MLS areas have been updated with the most complete data. Check them out here or, as always, in their normal spot under the House Reports tab above.
- Central Downtown District, Old Louisville – Area 0
- Downtown, Old Louisville, West Louisville – Area 1
- Pleasure Ridge, Valley Station, Shively – Area 4
- Auburndale, Fairdale, Iroquois Park, Shively Homes – Area 5
- Bullitt County – Area 11
- Spencer County – Area 19
- Shelby County – Area 30
Have you ever asked, “What is my Louisville home is worth? Contact me and we’ll schedule a visit. I’ll tour your property, complete a CMA and give you a better report than most appraisers. Just let me know if you’d like to take advantage of this free service!