Real Estate Trends/Statistics

Posts about Real Estate Trends or Real Estate Statistics

Louisville Real Estate Agent Salaries for 2011, Top Agents Grab Lion’s Share

I was very interested in the results when I began writing “So how much do Louisville real estate agents make?” last year.

Chart of Top 20% of Louisville real estate agents portion of all 2011 sales
The Top 20% of all Louisville real estate agents, 519 agents, accounted for about 2/3 of all real estate sales or $2,297,965,238.
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Louisville Home Values Changes for 2011, Winners and Losers

Updated: 2/3/2012. Thanks to Chris Cox who found a calculation error.

Many held high hopes for an improving real estate market heading into 2011. Well, maybe that’s an exaggeration but there were some signs that the housing recession was lessening and perhaps we would all see improvement in 2011. In most locations, that didn’t occur. But it did in some!

Map of Louisville with real estate price changes for 2011
This map gives us a better picture of how the real estate market was behaving by area. Outlying areas performed well in 2011 while much of the county was down.
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10 Years of Louisville Home Sales Tells Us a Great Deal

The health of any real estate market is measured by steady increases in home values along with activity levels that trend upward along with population growth. The same is true for Louisville real estate. Going back 10 years gives us a more historical viewpoint on where we were and where we are now.

Chart of Jefferson County/Louisville Home Sales
Sales activity was steadily rising in Louisville through 2005. For the past four years home sales have been stagnant.
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Nation Turns Corner, Louisville Foreclosures Still Trailing Behind

Mark Twain popularized this famous quote, “There are three kinds of lies: lies, damned lies, and statistics.” By their very nature, numbers can be manipulated to show many results, even opposing ones, and still be factually accurate.

Photo of a house made of money - Nation Turns Corner, Louisville Foreclosures Still Trailing Behind
Your home may not be made of money but it certainly represents it. Louisville foreclosures are still a big problem in the housing market.
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My Home Is Dropping in Value?

I’m sure you’ve heard the phrase, “Perception is reality”. Take the value of brands, for example. People’s perception of Tylenol as a safe, pain-reducing medicine prior to 1982 was sky-high. It was the world’s top seller, for crying out loud. Then reports surfaced that a woman died from cyanide poisoning from taking Tylenol.

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Louisville Housing Market 7 Year Report, Period End May 2011

May has disappointed me greatly. I had far greater plans in mind only to see them dashed on the rocks.

Louisville Home Sales: 7 Year Monthly Chart for period ending May 2011
Jefferson County home sales for May 2011 were close to 2009 levels, which was a bad year. Oldham County fared better but clearly, the housing market has ground to make up.
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Louisville Home Prices Drop: Sellers Mourn, Buyers Rejoice

The Wall St. Journal doesn’t focus on our local market but the points they make for the country as a whole can be applied to our situation.

Chart of US home price changes from 1 year ago
Home prices continue to drop, in some places far more than others. Kentucky fares worse than Tennessee, and Indiana but better than Ohio.
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Louisville Home Buyers Are Choosing Deals Over New Construction

We all have heard that the housing market is “down.” It’s taking longer for people to sell their homes and some just won’t sell at all. (This is primarily true in the higher price ranges.) While this is tremendous news for Louisville home buyers, sellers continue to have a difficult time.

Photo of Louisville new construction home
New construction is almost always more expensive than buying existing homes.
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Louisville Housing Market Report, 7 Year Period End March 2011

I took the time to add the historical trend line to these charts as I do in our monthly Louisville Housing Reports. And the trend is nothing if not consistent. March home sales in Jefferson and Oldham Counties have, like previous months, trailed 2010 and only barely topped 2009.

Louisville Home Sales: 7 Year Monthly Chart for period ending March 2011
Each month we will bring to you an easy-to-read chart on how both Jefferson County and Oldham County home sales have performed over the past 7 years.
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Unemployment Proves Bigger Factor in Louisville Real Estate Than Rates, Prices

This piece is going to show you why unemployment proves bigger factor than home prices or interest rates. Experts like Donald Trump and John Paulson have been touting the benefits of investing in real estate since October 2010. On this site, we’ve highlighted the very positive positions of the three key financial indicators for real estate:

  1. Interest rates
  2. Home prices
  3. Inventory
Chart of Metro Louisville Unemployment Rates, 2006-2011 - Unemployment Proves Bigger Factor in Louisville Real Estate Than Rates
Since late 2008, unemployment rates have jumped significantly. It is interesting that this coincides with the time frame in which Louisville real estate dropped.
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