Louisville Market Watch

November 2018 Louisville Real Estate Report

Welcome to LHB’s November 2018 Louisville real estate report.  Eight of our MLS areas have their numbers crunched each month. I also perform the same calculations on Jefferson County as a whole. That way you get more great information, all for free, with no required sign in.

Map of Louisville MLS Areas

These charts are for each of the GLAR MLS areas. We publish 8 monthly and 7 quarterly reports. Click to enlarge the map.

Most of Louisville saw an increase in home sales during October compared to the previous month, which is unusual. This was especially true for our MLS area 6 where sales continue to be very swift. We will not surpass 2017’s record total.

Values are also up for most of our areas. Area 8 saw a dramatic drop in the median home sale price. Simply look at the chart for your home’s area, or any area you are researching. If I can be of any additional help, please don’t hesitate to let me know.

As we head deeper into Fall and then Winter, sales will continue to decline as home sale prices also decrease. This makes it a less desirable to sell but a better time to grab up a bargain.

November 2018 Louisville Real Estate Report

Charts of Louisville home sales and Louisville home prices for Highlands Louisville MLS area 2 for the 12 month period ending November 2018

The median home price in Area 2 has remained fairly flat for more than the past year. Apparently, the price increases in the past are being normalized. After a strong October, sales dipped a bit here in November.

Charts of Louisville home sales and Louisville home prices for St. Matthews MLS area 3 for the 12 month period ending November 2018

This is the second strong month in a row for our St. Matthews real estate area. Not sure what happened in September but homes are selling. Even with higher sales totals, prices moved higher, which is unusual this time of year.

Charts of Louisville home sales and Louisville home prices for Okolona MLS area 6 for the 12 month period ending November 2018

Sales would be even higher here if there was more housing inventory. Price just keep climbing!

Charts of Louisville home sales and Louisville home prices for Jeffersontown MLS area 7 for the 12 month period ending November 2018

Prices are behaving as you’d expect them to in November. Home sales even surpassed the previous year in and around Jeffersontown, Kentucky.

Charts of Louisville home sales and Louisville home prices for Middletown MLS area 8 for the 12 month period ending November 2018

Up, down, UP! Check out these crazy home sale prices. For the year, the median value has improved significantly. Sales dip a bit in November but still a strong year for Louisville home sales.

Charts of Louisville home sales and Louisville home prices for Prospect MLS area 9 for the 12 month period ending November 2018

Sale volume is declining as we head into the Winter. Similar to Area 2 where we see prices remain level.

Louisville Real Estate Update charts for North Oldham County MLS area 20 for the 12 month period ending November 2018

For the year prices have been stable. Keep in mind both of these Oldham County MLS areas have much smaller sample sizes than the other groups in our monthly report. After three straight months of surpassed home sales, November couldn’t keep pace with 2017.

Louisville Real Estate Update charts for South Oldham County MLS area 21 for the 12 month period ending November 2018

Prices improve slightly in November as sales totals beat the previous year for the second straight month.

Quarterly LHB Housing Reports

I just finished updating all the quarterly Louisville real estate reports through Q3 of 2018. You can click a link below or, as always, from the drop-down menu at the top of each page.

Jefferson County Housing Report

Louisville Real Estate Update charts for Jefferson County KY MLS area 30 for the 12 month period ending November 2018

The larger sample size of Jefferson County helps us get a better understanding of Louisville’s home sales for the year. For most months in 2018, we couldn’t keep pace with the previous year. (In March, it wasn’t even close.) So, it’s safe to say that 2017 will remain the biggest year on record.

Even still, it’s been a solid performance. In certain areas, namely those under $200,000, have large sale totals with rising prices. It’s clear this is where most of the demand is currently.

For the month, there were 861 homes sold. Compared to last year’s total of 964, this amounts to a -10.68% decrease.

Last year, the median home sale price for November was $167,500. This year it’s $178,000, good for a 6.27% increase. This is pretty big if you think about it.

Analyzing the trend-line values this number becomes 6.08%. Therefore, we’re looking a very solid year for Louisville home appreciation. 

The reoccurring theme is that we need more housing options for buyers. This is largely true for the price point under $200,000. Could also use some in the $200,000 to $300,000 price tier. Above that, inventory is still fairly stout.

If you’d like to know what your home is currently 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
» Contact Tre now!