Welcome! This is our monthly Louisville real estate update for the time period ending October 2017. We outline how our regular monthly MLS areas performed in both home sales and sale prices compared to the previous 12 months.
Because housing inventory in Louisville continues to be historically low, it’s surprising we’re even coming close to a new sales record… but it’s happening.
We’re clearly in a seller’s market so prices are moving higher, as expected. The higher price tiers don’t show the same dramatic increases but overall prices are moving up.
Move-in ready homes under $200,000 are selling quickly and if they are updated nicely, expect a sale the very first week, if priced appropriately.
The areas that had the best months in terms of home sales were:
- Area 8: Middletown, Anchorage, Douglass Hills
- Area 20: North Oldham
Home prices in Area 3 took a giant hit during October. Could be a major market correction as the overall trend for this area is up a great deal for the year.
It’ll be interesting to see how November and December finish off the year. I don’t expect 2017 will surpass the record year last year, but you never know!
Like most of the city, prices move higher despite seasonality. Home sales in Area 2 couldn’t keep pace with 2016.
Big drop in home prices in October. We expect them to decline not fall out of the sky. Overall prices look fairly good though for Area 3 in terms of progress. Sales just missed matching last year’s total.
It looks like October 2016 was an anomaly as it doesn’t follow standard operating procedure. This October is a different story and is what most might expect, in terms of sales. Prices are still surging this Fall after a strong Summer, as well.
After a stellar June and July, home prices have come back to Earth the past couple of months. Sales dipped a bit as well, as they have across the city.
Similar to Area 9, our Middletown, Anchorage MLS area performed well in October. Prices inching higher and sales beat the previous year for the first time since June.
Not a bad month for Prospect real estate and the surrounding areas. Prices are still fairly high but not moving a great deal. Sales dipped a bit as expected.
Unlike South Oldham, home sales in North Oldham actually surpassed the previous year. Prices continue to move higher with a bounce-back result in October.
Prices up big! Sales down big! Couldn’t have been a more disparate result for South Oldham County real estate during October.
All of our quarter MLS areas are updated through Q3 of 2017. This means our Louisville real estate update reports are up-to-date. Here are the direct links to our quarterly reports.
- 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
All Jefferson County
After a strong sales month in August, both September and October couldn’t match the previous year. It appears now that 2017 will not be able to surpass our record-breaking year of 2016 in terms of total homes sold.
Prices took a strong hit in October across the city. For the year, our trend is still above 5%.
Would you like to know the value of your home? Now is a great time to sell your Louisville home.