{"id":10888,"date":"2016-12-15T21:45:11","date_gmt":"2016-12-15T21:45:11","guid":{"rendered":"https:\/\/louisvillehomesblog.com\/?p=10888"},"modified":"2023-09-23T15:35:57","modified_gmt":"2023-09-23T15:35:57","slug":"tre-pryors-2016-louisville-real-estate-year-review","status":"publish","type":"post","link":"https:\/\/trepryor.com\/blog\/tre-pryors-2016-louisville-real-estate-year-review\/","title":{"rendered":"Tre Pryor’s 2016 Louisville Real Estate Year in Review"},"content":{"rendered":"\n

Hello, my friends! It’s that<\/em> time of year again when I tackle my annual Louisville real estate year in review<\/strong> post. I’ve been completing this task faithfully, in one form or another, since 2008. Some you may find at InsiderLouisville while most are here in the LHB archives.<\/p>\n\n\n\n

\"Photo
Can you remember back to our busy Summer months? It seemed a blur of activity. | Photo: Tre Pryor<\/figcaption><\/figure>\n\n\n\n\n\n\n\n

Let’s get right to it!<\/p>\n\n\n\n

2016 Takes Home the Trophy<\/h2>\n\n\n\n

Well, it’s been spied in the tea leaves for a few months now but at this point, I can safely call it… 2016 the best year on record for home sales<\/strong> in Louisville, Kentucky! The record had been<\/em> held by 2005, with 11,439 properties sold for the year. Through November, we currently sit at 11,138 and I don’t think there’s anything to worry about landing those final units.<\/p>\n\n\n\n

\"Chart
It’s certainly been a very<\/strong><\/em> busy year for Louisville real estate sales. We’ve come a long way since 2011!<\/figcaption><\/figure>\n\n\n\n

As you can see, other than 2014, home sale activity has steadily increased since the housing recession. Let’s see how the home sales this year break down by price tier.<\/p>\n\n\n\n

Price Tier<\/strong><\/td># Sold<\/strong><\/td><\/tr>
$0-$49,999<\/td>701<\/td><\/tr>
$50,000-99,999<\/td>1672<\/td><\/tr>
$100,000-$159,999<\/td>3176<\/td><\/tr>
$160,000-$199,999<\/td>1559<\/td><\/tr>
$200,000-$249,999<\/td>1316<\/td><\/tr>
$250,000-$299,999<\/td>998<\/td><\/tr>
$300,000-$399,999<\/td>988<\/td><\/tr>
$400,000-$499,999<\/td>450<\/td><\/tr>
$500,000+<\/td>429<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

(Not sure why the GLAR<\/a> data breaks the tiers at $140,000 and $160,000, rather than what we’d expect at $150,000… but what can you do.)<\/p>\n\n\n\n

63% of all<\/em> home sales in 2016 were under $200,000. Jump up to $250,000 and we get to 75%! Clearly, the most<\/em> activity is in the lower price ranges. Louisville greatly needs more housing inventory, especially in that $150,000-$200,000 price range where demand is super intense.<\/p>\n\n\n\n

Some other tidbits and then we’ll jump to specific Louisville areas.<\/p>\n\n\n\n