Louisville Real Estate Market Report for Area 8 (40223, 40243, 40245)
This report analyzes property sales trends for Louisville homes over the last few months and versus the same time period last year. The report includes number of Louisville homes sold, average listing price, average sales price, days on market (DOM), and current inventory as well as analysis for buyers and sellers.
Area 8 of the Louisville MLS covers homes for sale in Douglass Hills, Hurstbourne, Middletown as well as areas outside of the Gene Snyder expressway. Zipcodes for this area include 40223, 40243, and 40245. In addition to those already mentioned, some of the larger subdivisions in this area are Lake Forest, Locust Creek, Owl Creek and Polo Fields
See Also: Louisville Real Estate Map
Search for Louisville Homes
Key Points
- June was a fairly strong month for sellers in this part of Louisville. While average prices remain 10-15% below last year, the gap between the number of homes sold year over year is closing. We had been seeing a 20% drop in sales, but this month shows just over 10%. Further, the price reduction does not necessarily indicate a drop in home values. In fact, many homes are appreciating in this area.
- While sellers won't exactly rejoice at these numbers, buyers should not be too overconfident either. This remains one of the most desirable areas in Louisville and sellers know it. The absorption rate indicates that the market is virtually balanced. Both sides should be making an effort to reach a fair deal and get to the closing table. Gamesmanship is not likely to net a positive result.
- Sellers need to find a Louisville real estate agent who can help them price, prepare, and promote their home correctly. Buyers also need a local expert who can help them find the ideal home and achieve a successful closing.
Additional Market Reports (June 09)
- Louisville Homes - Area 7 Fern Creek, Hikes Point, J-Town
- Bullitt County Homes
- Shepherdsville Homes
- Mt Washington Homes
First Time Home Buyer Tax Credits for Louisville Home Buyers
- $4500 Down Payment Assistance - Get Down payment Assistance money through KHC.
- $8000 Tax Credit - Get an $8000 Tax Credit on your 2008 or 2009 Tax return when you buy a home.
- $8000 Tax Credit Amended - Find how how to use the Tax Credit for a portion of your downpayment
* * * * *
Erik Hitzelberger is a licensed REALTOR with RE/MAX Alliancein Louisville. If you need a Louisville Real Estate agent please email me or call 502.921.3989.
I specialize in the following areas of the Metro Louisville Area: Prospect, Middletown, Jeffersontown (J-Town), Fern Creek, Okolona, Shepherdsville, Mt Washington, Hillview, Brooks and Pewee Valley. Click the following links to learn more about Louisville and Bullitt County Real Estateor to Search for Louisville Homes
0 comments • Erik Hitzelberger, --Louisville-Bullitt County Real Estate • June 25 2009 11:22PM
This is great information for your consumers combined with nice area pictures to make it just a bit more interesting.
Erik as usual you have done a nice job putting together the local Real Estate market statistics!
Christine, Bill - Thanks. I believe it is important for buyers and sellers to understand as much as possible about the local market. I pulled out some important points, but there is a lot of info they can get from the chart and graphs.