Welcome to our Louisville Real Estate Update! This monthly post includes Louisville home sales numbers along with price data divided up by our Greater Louisville Association of Realtors (GLAR) MLS areas. Click the map to see a larger version to easily identify where in Louisville your home might be.
March was another strong month for Louisville real estate. Especially for home sales priced between $100,000 and $200,000. You can see it reflected in the charts for areas 7 (Jeffersontown), 6 (Okolona) and Areas 2 (Highlands).
Areas 8 & 9 didn’t perform as well, as fewer buyers are interested in luxury homes at this point in the year.
When looking at home prices, it’s more important to take the long-term view and see where each MLS area is at the end of the red trend-line compared to the beginning. Area 8 is performing the worst in this regard.
All in all, most of the city is improving, just at different rates.
Louisville Real Estate Update (period ending March 2016)
Lookin’ good Area 2. Prices bouncing back a bit (and I fully expect them to continue to move higher) and home sales beating the previous year again.
Another tough month for Area 3 with home sales lagging behind the previous year for the second straight month. Prices dipping isn’t a major concern at this point in the year.
Not quite as spectacular as February but another really strong month for Okolona and the rest of Area 6 real estate. Look at that overall trend line!
Last month it was Area 6, this move the positive flow moved East to Area 7 where homes are selling like hotcakes. This while prices are moving higher and higher. Think you might sell? Give me a call. I’ve sold 3 homes in the total of 7 days this month.
Area 8 is just not getting the job done. It could be we’re seeing a market correction from all the improvements we had in previous years but I think it’s more than the homes that are selling now are in lower price ranges and that’s not what Area 8 is about, for the most part.
A similar scene in Area 9, as you might expect with similarly priced properties. Sales are off and prices are taking their seasonal dip.
March was a strong month for North Oldham home sales absolutely wallopping the previous year. Home sale prices continue to remain flat, except for new construction.
Giant leap in home prices for South Oldham while sales activity bounced back from an off month to improve over the previous year.
Our other Louisville real estate update reports for the remaining MLS areas are updated each quarter. The following were completed through Q1 of 2016.
- 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
