Pretty solid month for Louisville home sales in July. Home prices have started to recover in certain Louisville areas as well. Still a lot of room for improvement but promising signs are all around us.
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Note: Below you’ll find our monthly reports for the following Louisville housing markets. These charts display Louisville home sales and Louisville median home values with a trend-line.
Monthly Reports: Period Ending July 2012
Home prices in Area 2 have taken a pretty solid hit over the past 3 years. From averages over $155,000 our trendline recently dropped below. The last 3 months however are starting to bring that back up. Sales for the past 3 months have also been inspiring.
Similar to Area 2, this area has seen home values steadily decline. There’s a great deal of opportunity for growth. Home sales are up over the previous year by a wide margin which is contributing to the lower values.
Home values for Area 6 are hovering around the $120k range and sales are up in 6 of the past 7 months. So far this is some solid improvement after this area has been hard hit in recent years.
The last 3 months have finally started to push the home price trendline higher. It’s about time. Sales dwarfed the previous year, which I find to be some kind of anomaly.
Disappointing report for home prices in Area 8, this while sales keep marching along.
Third good month in a row for sale prices in Area 9, all above the trend pushing things higher. This happening while home sales are really moving. More than 100 homes have sold in this area for each of the past 4 months.
Decent month for this area but not as strong as it had been during the Summer of 2011. Overall, values are down for the year with the trend pointing lower. Oldham County home sales are up but not by a large amount.
Unlike it’s neighbor to the North, sales have been jumping and dropping erratically in this area. This while the home values hold a steady line. Very strange and frankly, I’m not sure what to make of it other than it’s lower sample size means monthly changes are more volatile, so focus on the trends.