Louisville Real Estate Market Skyrockets 21% in June

Since I’ve been tracking these stats in 2002, we’ve never had a bigger month than June! There were 1,300 Jefferson County homes sold for the month. That’s colossal!

Jefferson County Home Sales Comparison through June 2015
Whoa! Would you look at that spike in June!? The Louisville real estate market is on fire!

I’m a bit at a loss for words.

Yeah, I know. I’m a writer and that’s not supposed to happen. But seriously, just look at that chart!

May 2015 beat the previous year by a healthy margin—11.2%. But June absolutely demolished the previous year by selling an additional 126 properties, the percentage gain was a whopping 21%. Simply incredible.

Looking back over the years, this marks the seventh straight month where Louisville home sales beat the previous year.

All of this tremendous sales activity is occurring at the same time home prices are also moving higher. Just think what might happen if more homeowners entered the fray. Home inventory is still quite low. More inventory, more sales.

Let’s take a look at which MLS areas are improving the most.

Chart of June home sales by MLS Area in Louisville KY compared to previous year.
Every MLS area but one surpassed the previous year’s home sale total. That unfortunate area is Area 1 (Old Louisville, West Louisville, Shively).

Looking at this chart you might think Area 7 (Jeffersontown, Fern Creek, Hikes Point) might have had the biggest gains. Certainly, in sheer numbers, it appears that way with 215 homes sold compared to just 165 in June 2014. That’s good for a 30.3% jump!

But look carefully and you’ll see that Area 0, our smallish Downtown Louisville area went from 10 to 16 properties sold. This gives it the victory with a grand 60% gain! Amazing!

Here’s how Jefferson County home sales this March look at each of the past ten years.

Louisville Real Estate Market in June

2005   1176
2006   1095
2007   1153
2008   857
2009   960
2010   1032
2011   815
2012   906
2013   1009
2014   1074
2015   1300

Each year since 2011 has seen improvement in the Louisville real estate market. I’m sure if I ran the numbers for the neighboring counties we would see similar results.

As interest rates continue to stay low, the only question on the horizon is how long will homeowners stay on the sidelines. Why wait? Now’s the time to sell!