March is behind us. April is upon us with the coronavirus being the big story of the year. How has this affected Louisville real estate? Let’s find out!
I’ve just updated all of the Louisville’s MLS areas through March. Don’t forget! You can always check out this information via the Housing Reports tab in our navigation. This is solid analysis that you can’t find anywhere else, and it’s all free!
Jefferson County Housing Market Report
What a crazy month! The coronavirus is all over the news and many businesses have been told to close their doors by State and National officials. So far, this hasn’t greatly affected real estate here in Louisville, Kentucky. But it certainly will, at least in the short term.
The median home price for sales in March was $194,000. This is an increase of over $182,250 for February. When comparing this number with last year’s March, we see an 11.3% increase. That’s huge!
Looking at home sales for the Louisville real estate market, there were 916 homes sold in March. This is a 4.2% decline year-over-year. Things are definitely slowing down.
Louisville MLS Areas with Monthly Reports
Prices improve in this MLS, unlike several across the city as home sales are just about on pace with last year.
Prices doing better, as you would expect this time of year, while sales jump after a slow February.
Big month for home sale prices. Check out that spike! Sales lag behind the previous year but not too badly.
Fairly strong month for real estate in Jeffersontown and the rest of this MLS area with both metrics performing well.
Home sales in Area 8 did quite well in March but if you look at prices over the past 12 months, they remain very flat.
Prices are improving after the off-season dip. Sales actually surpassed the previous year.
Home sale prices aren’t increasing, similar to Area 8. Sales beat February but fall far short of last year’s anomaly.
Things look better in this part of Oldham County. Prices are fairly level and home sales are growing during March.
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!