{"id":15060,"date":"2019-08-27T19:39:36","date_gmt":"2019-08-27T19:39:36","guid":{"rendered":"https:\/\/louisvillehomesblog.com\/?p=15060"},"modified":"2023-08-07T20:56:50","modified_gmt":"2023-08-07T20:56:50","slug":"best-real-estate-deals-in-louisville-kentucky","status":"publish","type":"post","link":"https:\/\/trepryor.com\/blog\/best-real-estate-deals-in-louisville-kentucky\/","title":{"rendered":"Best Real Estate Deals in Louisville Kentucky"},"content":{"rendered":"\n

It’s that time of year again! Each year near the beginning of September I write a piece, that I think of as the “Best Bang for Your Buck” article. Beginning in 2014, this piece ran on Insider Louisville. The following year I published a new one. Today is the day I release the most current version. It can’t be found anywhere<\/em> else. So, let’s jump right in and find out where you can find the best real estate deals<\/strong> in Louisville Kentucky. <\/p>\n\n\n\n

\"Photo
Raise your hand if you thought that Lake Forest real estate was a great deal.<\/figcaption><\/figure>\n\n\n\n\n\n\n\n

This article will outline not only the parts of Louisville where home prices are lower but consider changes from one year to the next. Obviously, the higher-priced parts of the city are also nicer\u2014more amenities, better location, etc. But now you’ll have the power of information at your fingertips. Many of our city’s real estate agents don’t have this knowledge but you will!<\/p>\n\n\n\n

How Real Estate Deals Are Found<\/h2>\n\n\n\n

First, a bit of methodology. I’ve been using the same geographic areas to make sure we’re comparing apples to apples. If you have specific questions, by all means, contact me<\/a>. But it should be fairly straightforward.<\/p>\n\n\n\n

Taking all the single-family residences (no condos) that have sold during the past 12 months, we chart the data. Then, I plot it on the helpful map you see below.<\/p>\n\n\n\n

\"Louisville<\/a>
Depending on your browser, you maybe be able to click this image to enlarge it in a new window.<\/figcaption><\/figure>\n\n\n\n

For those that like their data raw, here are the values for the best real estate deals in Louisville Kentucky.<\/p>\n\n\n\n

Sold Price Per Square Foot by Area<\/h2>\n\n\n\n

Taking all the sold properties, then averaging their sold price per square foot we find the least and most expensive real estate in Louisville, Kentucky.<\/p>\n\n\n\n

<\/td>2018<\/strong><\/td>2019<\/strong><\/td>Change<\/strong><\/td><\/tr>
Anchorage<\/strong><\/td>$197.20<\/td>$182.01<\/td>-7.70%<\/em><\/td><\/tr>
Clifton<\/strong><\/td>$147.67<\/td>$157.29<\/td>6.51%<\/td><\/tr>
Crescent Hill<\/strong><\/td>$180.11<\/td>$180.03<\/td>-0.04%<\/em><\/td><\/tr>
Fairdale<\/strong><\/td>$103.29<\/td>$112.50<\/td>8.92%<\/td><\/tr>
Fern Creek<\/strong><\/td>$135.14<\/td>$140.24<\/td>3.78%<\/td><\/tr>
Germantown<\/strong><\/td>$144.63<\/td>$157.73<\/td>9.06%<\/td><\/tr>
Glenview<\/strong><\/td>$188.17<\/td>$204.14<\/td>8.48%<\/td><\/tr>
Highlands<\/strong><\/td>$176.11<\/td>$179.73<\/td>2.06%<\/td><\/tr>
Highview<\/strong><\/td>$123.99<\/td>$133.95<\/td>8.03%<\/td><\/tr>
Hikes Point<\/strong><\/td>$136.81<\/td>$141.20<\/td>3.21%<\/td><\/tr>
Jeffersontown<\/strong><\/td>$132.92<\/td>$139.72<\/td>5.11%<\/td><\/tr>
Lake Forest<\/strong><\/td>$150.14<\/td>$154.37<\/td>2.82%<\/td><\/tr>
Lyndon<\/strong><\/td>$142.42<\/td>$155.11<\/td>8.91%<\/td><\/tr>
Middletown<\/strong><\/td>$141.05<\/td>$148.58<\/td>5.34%<\/td><\/tr>
Newburg<\/strong><\/td>$85.98<\/td>$108.90<\/td>26.66%<\/td><\/tr>
Norton Commons<\/strong><\/td>$244.94<\/td>$249.17<\/td>1.73%<\/td><\/tr>
Okolona<\/strong><\/td>$105.19<\/td>$124.87<\/td>18.71%<\/td><\/tr>
Pleasure Ridge Park<\/strong><\/td>$108.00<\/td>$114.85<\/td>6.34%<\/td><\/tr>
Portland<\/strong><\/td>$29.55<\/td>$26.66<\/td>-9.80%<\/em><\/td><\/tr>
Prospect<\/strong><\/td>$158.06<\/td>$160.80<\/td>1.73%<\/td><\/tr>
Shively<\/strong><\/td>$88.51<\/td>$97.87<\/td>10.58%<\/td><\/tr>
Springhurst<\/strong><\/td>$145.05<\/td>$147.39<\/td>1.61%<\/td><\/tr>
St. Matthews<\/strong><\/td>$183.52<\/td>$184.27<\/td>0.41%<\/td><\/tr>
Valley Station<\/strong><\/td>$104.54<\/td>$112.23<\/td>7.36%<\/td><\/tr>
Average<\/strong>:<\/td>$139.71<\/strong><\/td>$146.40<\/strong><\/td>5.41%<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Keep in mind that only homes that sold<\/em> in the past year are included in this data. Data points can vary quite a bit. Smaller areas, like Anchorage<\/a> and Springhurst<\/a>, have far fewer homes exchanging hands so their value is a bit more suspect. While larger areas like Jeffersontown<\/a> and Highview, where more than 500 homes were sold show more solid, reliable values. <\/p>\n\n\n\n

Louisville Real Estate That’s Dropping <\/h2>\n\n\n\n

Some things should jump out at you immediately<\/em>. For instance, given that city-wide saw a 5.41% increase in sold price per square foot, why did any parts of the city see a decline? <\/p>\n\n\n\n

Let’s look at these three areas.<\/p>\n\n\n\n

Portland<\/strong> has been a unique proposition for decades. Despite many attempts at revitalization<\/a>, we haven’t seen much success. Portland remains Louisville’s most affordable housing. Depending on your goals, this might make it an attractive target. Those prices are crazy low! Before jumping in feet first, make sure to do your due diligence and learn why this is the case and what the future might hold. <\/p>\n\n\n\n

Next up is Anchorage\u2014the quaint county home to some of Louisville’s rich and famous. How could their values drop? Part of the equation is what I mentioned earlier about the sample size. There were only 24 homes that sold in the past 12 months within the city of Anchorage. <\/p>\n\n\n\n

The other part is likely a simple market correction. Here were Anchorage’s values over the years.<\/p>\n\n\n\n