Good News, Bad News for Louisville Real Estate

On Thursday we hear that Louisville’s “economy has declined in recent months.” They make sure to add that residential real estate has also “declined” (even though real estate was included in their previous comment). Ouch.

But then, on Friday the CJ follows up this sour news with something positive. Good for them!

Median home prices in the Louisville area rose 1.1 percent to $134,000 during the first two months of the year, compared with the same period in 2007, according to the Greater Louisville Association of Realtors.

That’s good news right? Sure! Louisville’s housing market doesn’t suffer the dizzying ups and downs of so many other markets in the U.S. In addition, because there is currently so much inventory, buyers have a larger selection to choose from. And once they find their favorite home, the odds of getting a better than average deal is quite good.

For the homeowner looking to sell, it still comes down to price first, property condition second. Speak with a real estate professional to find out which home improvement projects can optimize your property’s opportunity to sell.