Area 9 is one of the few areas looking to improve upon these past few years. As you can see in this chart, home prices are trending upward and sales are ahead of 2010.
Looking at the start of 2011, there isn’t a lot to write home about. A few areas are up, but not as many as one would hope. Harsh winter weather is sure to account for some lack of traction. I expect this Spring to be better in terms of transactions and likely home values as well.
Note: Below you’ll find our monthly/quarterly reports for the following Louisville housing markets. These charts display Louisville home sales and Louisville median home values with a trend line. Each chart relates directly to an “area” as defined by the Louisville MLS.
Monthly Reports: Period Ending January 2011
- Louisville KY Housing Report: Area 2: Butchertown/Highlands/Germantown
Home sales for this area matched the previous year, which is a start but more improvement is needed. As to home values, after a wonderful November, both December and January were disappointing as the trendline looks to start moving downward.
- Louisville KY Housing Report: Area 3: Clifton/Crescent Hill/St. Matthews
Area 3 has been performing well lately. January didn’t blow anything out of the water but was a solid month with home sales up over last year and home prices still trending upward. It’ll be interesting to see how this area responds as we approach Spring.
- Louisville KY Housing Report: Area 6: Buechel/Highview/Okolona/Fern Creek
December showed some promise but January home prices for this area dropped back down under $120k. Home sales were equally disappointing as January 2011 was below January 2010.
- Louisville KY Housing Report: Area 7: Jeffersontown/Fern Creek/Hikes Point
This area didn’t have a good January at all. Prices remain flat with not a great deal of new development as home sales dipped below the previous year’s levels which isn’t encouraging.
- Louisville KY Housing Report: Area 8: Middletown/Hurstbourne/Douglass Hills/Anchorage
The home values in Area 8 started moving up mid-year of 2010 but then returned to previous levels. In January those values dropped again. Home sales are also lagging behind the same month of the previous year.
- Louisville KY Housing Report: Area 9: Prospect/Anchorage/Glenview/Lyndon
Like Area 3, this area is performing better as of late. Home prices are level but the trendline is still moving upward while home sales improved upon the previous year.
- Louisville KY Housing Report: Area 20: Oldham County N-I71
After a dismal December, home values in January improved even if it were only marginally. The trendline is now moving downward. Home sales however were improved in January and appear to be poised for better results going forward.
- Louisville KY Housing Report: Area 21: Oldham County S-I71
With such a small sample size, home prices have been fluctuating wildly these past few months. It was January’s turn to be down. The number of homes sold in this area was exactly the same as the previous year.