Welcome to the September Louisville real estate report. Louisville Homes Blog is once again front and center with the best data and analysis in the city. With the third quarter in the books, how is our real estate faring? Read on and find out!
Clearly, 2017 will continue to be the best year on record. The following year, 2018, home sale numbers dropped 2.2%. Not bad, all things considered.
Thus far in 2019, totals are declining at a greater pace. Year-to-date home sales are down 6.39% compared to the previous year. While September is was almost a dead heat, there’s still a lot of ground to make up.
There’s still time for some additional activity before the Holidays arrive. While October is almost certain to be lower than September for real estate transactions, we’ve had a couple years where it was just a 2% decline. The mark to beat from last year will be 991. Let’s see if we can do it!
Jefferson County Housing Market Report
During the month of September, there were 1,029 homes sold in Louisville, Kentucky. That’s only one unit off from last year.
Home prices continue to move higher, especially in lower-priced parts of the city. Area 6, for example, is seeing explosive growth in home sale prices. For the city as a whole, the median sale price in September was $186,820. This was up from $173,000 last September but down from August’s $195,000 value. Just looking at our chart we see prices move steadily higher.
Louisville MLS Areas with Monthly Reports
As expected, home sale prices are coming down after the Summer highs. But wait! Area 2 says we’re not done with lots of sales yet.
Home sales in Area 3 are also up big from last year. Interesting to see since that’s not the case for the city as a whole.
Sales are still strong in this MLS area and prices continue to shoot through the roof. This area has seen some of the highest increases in sale prices in all of Louisville’s real estate.
Home sale prices in Area 7 didn’t get the memo. “What? We were supposed to move lower? Sorry, my bad.” This while sales remain firm.
Area 8 definitely got the memo. Maybe they got both memos and doubled-down?
Sales dropped a bit further in September compared to last year but prices are slightly improving to counter-balance this phenomenon.
Not the best month for real estate in North Oldham as both metrics didn’t perform particularly well.
While North Oldham stumbles, South Oldham picks up the slack. I see the flat trend-line more a reflection of buyer’s desire for lower-priced properties rather than a lower appreciation number.
Louisville Real Estate Report: Quarterly MLS Areas
For this month’s Louisville Real Estate Report, our quarterly areas are now completed through September. These are linked below. And you can always find them in the drop-down menu at the top of each page.
- 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
If you want to know “What is my Louisville home worth?” Please contact me. I’m always happy to help!