Welcome to Louisville real estate reports for January 2014!
Important Note Number 1: Here at Louisville Homes Blog, we’ve been creating easy-to-read charts for each Louisville MLS area since 2007. This edition will mark a big change.
As of January 2014 the Greater Louisville Association of Realtors (GLAR) switched to a new web platform. Data was ported from the old system but as you might notice, a few of the numbers in this report look wonky.
Important Note Number 2: Due to the almost surreal Winter weather over the past few months, home sales have dropped… in some cases dramatically.
Weather always plays a significant role in house hunting, so it’s not really a big surprise but yet another variable to consider when viewing these Louisville real estate reports.
Overall, the numbers show a marked decline in both sales and home prices from last January. Here’s hoping the weather improves and we can get back to growing this market!
Do you have any questions about Louisville Real Estate? I’d love to help. And as always, thank you for visiting LouisvilleHomesBlog.com!
Louisville Real Estate Reports (period ending January 2014)
Sales did decline in this area but values improved, which isn’t always the case due to seasonality. The prices continue to trend higher which is a positive sign for Area 2.
Not the best month for Area 3 as we saw prices plummet to record lows. The median home sale price for the month was $187,750, the lowest number since August 2012. Sales matched the previous year, which is good considering most of the other areas in our survey did not.
If Area 3 was bad, Area 6 was worse. Fresh off the best month in the survey for December, we see both prices and sales drop by a significant amount. Keep in mind that the y-axis labels do not start with zero but each is custom fit to the data within.
Area 7 mimicked Area 6’s poor performance for January with large drops in both the median sale price and the number of properties sold. Here’s hoping for an improvement in the months ahead.
Sales were down, as were most areas, but home prices were up over the previous two months, which help to move the trend-line higher in Area 8.
Take what I wrote for Area 8 and repeat it here for Area 9, with the exception that prices have been moving higher for some time.
Abysmal performance for Area 20 making it the biggest loser in this month’s results. The $163,500 median home sale price is the lowest since I’ve been keeping records. Part of me hopes it’s simply a data error that sorts itself out in February.
The other Oldham County area didn’t perform much better with record lows for home prices and a mere 26 homes sold for the period.