Welcome to Louisville real estate reports for December 2014!
Much stronger than expected month for Louisville real estate in December 2014. Most areas performed as well or better than last year with the big winner being South Oldham who put in a serious month for both home sales and prices.
Typically, homes sold during the Winter months sell for lower values but with continued low inventory levels, home buyers in Louisville are forced to fight to get their property.
All of this underscores the opportunity for homeowners who want to sell to list immediately before inventory rises to it’s more common levels. The current Absorption Rate is now 4.51 months, well below the 6-month mark that denotes a balanced market.
Louisville Real Estate Reports (period ending December 2014)
Area 2 is showing predictable, but worthwhile metrics coming into the new year. Activity has actually picked up in this area for December which is positive going forward.
Home values rising in the Winter? What’s next, polar vortex? Bucking the seasonal trend, values in Area 3 are moving higher, sales aren’t bad either but last year’s December was remarkably high for some reason.
After last month’s drop in both sales and values, it makes sense that December rebounds in a major way and it did!
Strong month for Area 7 in both metrics with sale prices moving higher and sales actually beating last year’s mark.
Similar to neighboring Area 7, this area saw positive real estate results during December. Sales just missed matching last year’s mark and values were up sharply.
Even better was Area 9 where home prices shot through the roof, which isn’t typical for a December and sales were exactly the same as this time last year.
Home values moved lower, in line with seasonal trends but home sales were better than expected by surpassing December 2013 numbers.
to their highest level since March 2013 and sales activity almost doubled last years. Winning month for South Oldham real estate.
I also just updated all of the Louisville Homes Blog quarterly reports through the end of the year. These you can find through the links below:
- Area 0: Central Downtown District, Old Louisville Homes
- Area 1: Downtown, Old Louisville, West Louisville Homes
- Area 4: Pleasure Ridge, Valley Station, Shively Homes
- Area 5: Auburndale, Fairdale, Iroquois Park, Shively Homes
- Area 11: Bullitt County Homes
- Area 19: Spencer County Homes
- Area 30: Shelby County Homes