Louisville Market Watch

August 2019 Louisville Real Estate Report

August is now behind us! Summer is gone and school has once again taken over. What does that mean for real estate prices? How about sales? Well, that’s exactly what we’re here for… to give you the real scoop. Read on to learn more about the Louisville real estate market.

Map of Louisville MLS Areas
Our charts are divided into our Greater Louisville Association of Realtors (GLAR) MLS areas. Click the map to enlarge and see where your Louisville home is located.

It wasn’t a terrible month, not by a long shot. It’s just that we are still seeing lower home sales here in Louisville, Kentucky. After the high watermark of 2017, numbers were lower in 2018 can continue to decline ever so slightly through this year.

Now that the preliminaries are complete, let’s get to the stats. Remember, these reports can’t be found anywhere else in the city. It’s my pleasure to serve you. All I ask in return is that you’ll give me a chance to earn your business when the time comes to sell your home or buy a new home in Louisville. Let’s begin!

Jefferson County Housing Market Report

Louisville home sales chart and Louisville home prices chart for Jefferson County for the 12 months ending August 2019

During the month of August, there were 1,173 homes sold in Louisville, Kentucky. This is an 11.4% decline from the same month last year. After a very close July, we see far fewer sales this past month. Year-to-date, 2019 is 7.2% lower than in 2018.

That’s the bad news.

The good news is that home prices continue to move higher. The median home sale price during August was $195,000. That number for last August was just $180,000. So, as you can see that’s a big increase. Comparing our trend-line averages is more accurate, so let’s take a look. Performing this calculation, we continue to be at a 6.2% gain in home values over the previous year. That’s more than solid. Homeowners are seeing their investments increase quite well here in Louisville.

Louisville MLS Areas with Monthly Reports

Home sales chart and home prices chart for Highlands neighborhood in Louisville Kentucky for the 12 months ending August 2019 - MLS Area 2

Area 2 had a pretty good month in August with sales actually surpassing the previous year. Prices are come back to earth after a good spike during the summer.

Home sales chart and home prices chart for St. Matthews neighborhood in Louisville Kentucky for the 12 months ending August 2019 - MLS Area 3

The higher-priced MLS area of Clifton, Crescent Hill, and St. Matthews didn’t see the same kind of performance. Prices are moving higher but at a slow pace. Home sales were up in August over July but still down from the previous year.

Home sales chart and home prices chart for Okolona neighborhood in Louisville Kentucky for the 12 months ending August 2019 - MLS Area 6

Area 6 continues to be one of the top-performing in the entire city. Prices are blowing up and sales remain quite strong.

Home sales chart and home prices chart for Jeffersontown neighborhood in Louisville Kentucky for the 12 months ending August 2019 - MLS Area 7

What’s happening here in Area 7 is a bit perplexing as values haven’t moved much at all for the year. The last few years have been great for Jeffersontown but 2019 sure hasn’t.

Home sales chart and home prices chart for Middletown neighborhood in Louisville Kentucky for the 12 months ending August 2019 - MLS Area 8

Summer of 2019 has not done a lot for Area 8. Sale prices were higher in March than June which is unusual. Sales in August performed quite well though, even after a stellar July.

Home sales chart and home prices chart for Prospect neighborhood in Louisville Kentucky for the 12 months ending August 2019 - MLS Area 9

Sales in Area 9 were similar to what we saw in Area 8 but with prices improving at a better clip, even with the high price point.

Home sales chart and home prices chart for North Oldham County Kentucky for the 12 months ending August 2019 - MLS Area 20

After the big price spike in July, we see them returning to the trend-line in August. Sales also balance out in August after a better than average month in July.

Home sales chart and home prices chart for South Oldham County Kentucky for the 12 months ending August 2019 - MLS Area 21

South Oldham didn’t follow North’s lead. The median home sales price in August is the highest on record, even while sales outpace the previous year.

Louisville Real Estate Report: Quarterly MLS Areas

All of the quarterly Louisville real estate reports are now completed through June. Check out the links below or find them all in the drop-down menu at the top of each page.

If you want to know “What is my Louisville home worth?” Please contact me. I’m always happy to help!

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
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