Welcome! This is our monthly Louisville real estate update for the time period ending November 2017. We outline how our regular monthly MLS areas performed at both home sales and sale prices compared to the previous 12 months.
Inventory remains horribly low. Buyers have fewer options. But that doesn’t mean homes aren’t selling because they are! Check out the Louisville sales totals going back 6 years and you’ll see that 2017 is been a strong year.
Just not quite as strong as 2016.
Prices continue to improve at a near-record pace. Increased competition for homes holds the strongest role in this reality. But it’s happening across the country, not just here in Louisville, Kentucky.
If you’re interested in learning more about a particular area, ZIP or even your neighborhood, just let me know. I’m always happy to help!
Home sale prices rebound in Area 2 after a slight dip. Check out that trend-line! Sales were actually higher in November than October… just not better than last year.
Strong bounce-back for prices while sales activity starts to tail off as we head into the Holidays.
A great month here in Area 6, as lower prices properties are flying off the shelves. The demand is clearly here if there were more homes for sale under $200,000, they would sell too!
Wow! Look at that chart! November shows the highest median home sale price on record. Talk about a topsy-turvy world. This while sales were quite good as well.
Better than the expected month here in Area 8 with both metrics doing quite well. Sales beat the previous year for the second straight month and prices, like Area 7, shot through the roof!
Area 9 saw sales activity decline in November, as expected. Prices remain on the flat side but not wholly down for the past 12 months.
November was a strong month for both of our Oldham County area, with the North winning the rival match when it comes to prices. New construction activity can be thanked for a good portion of these sales.
Similar to North Oldham, South Oldham County has seen some improvement in new construction just a lower price point on average. Low sample size shows prices bouncing all over the map.
All of our quarter MLS areas are updated through Q3 of 2017. This means our Louisville real estate update reports are up-to-date. Here are the direct links to our quarterly reports.
- 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
Louisville home sales performed the same in November as they did in October. The inventory just isn’t there for more growth!
It’s actually good news things didn’t trail of even more. We have to thanks our historically low mortgage rates for at least a portion of this phenomenon.
The median and average sale prices for November rebounded a bit after down October. This wasn’t seen across all MLS areas but most.
Interested in knowing the value of your Louisville home? It’s likely higher than you thought. Just contact me and I’ll come out a preview your property and get you that number.