Louisville & Bullitt County Real Estate

Bullitt County Real Estate Market Report

This report analyzes property sales trends for Bullitt County homes over the last few months and versus the same time period last year.  The report includes number of Bullitt County homes sold, average listing price, average sales price, days on market (DOM), and current inventory.

Bullitt County encompasses the primary cities of Shepherdsville, Mt Washington, and Lebanon Junction.  Home sales from the smaller cities of Brooks, Fox Chase, Hebron Estates, Hillview, Hunter's Hollow, Pioneer Village and Zoneton are also included, but these are generally listed as Shepherdsville homes in the MLS.

Search for Bulllitt County Homes

Key Points

1. After a month which saw a lot of lower-priced homes sell to firsst-time home buyers and investors, the market returned to what seems to be the 2009 average.  While sales remain soft, price and key ratios remain intact.  In general Bullitt County home prices remain stable.  This is not an area in decline nor are many neighborhoods seeing significant appreciation.  Both buyers and sellers should take this into consideration.  
2. Recent legislation allows first time home buyers to get $4500 down payment assistance from the state.  When combined with the $8000 first-time home buyer tax credit, 11 months of inventory and historically low interest rates, it is hard to imagine a better opportunity for buying.   
3. Sellers need to be realistic when pricing your home.  With this much competition, you are better off not listing than throwing out a high price and hoping some unsuspecting buyer will come along.  Even if you do get a bite, the house will likely not appraise.  Find a knowledgeable Bullitt County Real Estate Agent who can help you price, prepare, and promote your home.  By following these 3 steps, I sold my Shepherdsville home in 11 days.

Other Market Reports

• Mt Washington Homes
• Shepherdsville Homes
• Louisville Homes - Area 7 - FernCreek, Hikes Point, J-Town
• Louisville Homes - Area 8 - Douglass Hills, Hurstbourne, Middletown

First Time Home Buyer Tax Credits for Bullitt County Home Buyers

$8000 Tax Credit - Get an $8000 Tax Credit on your 2008 or 2009 Tax return when you buy a home.

$4500 Down Payment Assistance - Get Down payment Assistance money through KHC.

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Erik Hitzelberger is a licensed REALTOR with RE/MAX Alliance in Louisville. If you need a Bullitt County 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 Estate or to Search for Bullitt County Homes 

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Bullitt County Real Estate Market Report- This report analyzes property sales trends for Bullitt County homes over the last few months and versus the same time period last year.  The report includes number of Bullitt County homes sold, average listing price, average sales price, days on market (DOM), and current inventory.

Bullitt County encompasses the primary cities of Shepherdsville, Mt Washington, and Lebanon Junction.  Home sales from the smaller cities of Brooks, Fox Chase, Hebron Estates, Hillview, Hunter's Hollow, Pioneer Village and Zoneton are also included, but these are generally listed as Shepherdsville homes in the MLS.

Key Points

1. Average price is significantly below last year.  This is driven by investors and those taking advantage of the $8000 first-time home buyer tax credit.
2. Average Days on Market is significantly lower than previous months or years.  Again, investors and first-time home buyers are driving a lot of this.  If you find a house you like, don't expect it to stay on the market long.
3. Inventory is still high, but is not unreasonable.

Buyers

You still have a great opportunity to create your own success story and get a great deal on a Bullitt County Home.  The combination of historically low interest rates and flat prices means your payments are lower than they would have been last year. 

1. get serious,
2. get pre-approved, and
3. find a good Bullitt County Real Estate agent.

Sellers

If you are serious about selling your home, now is the time to get it on the market.  Buyers are definitely out and about.  If you want to sell, you need to

1. price your Bullitt County Home to sell,
2. prepare your house for sale, and
3. find an agent who can promote your Bullit County home properly.   

By following these 3 steps, I sold my Shepherdsville home in 11 days last month.

Other Market Reports

• Mt Washington Real Estate
• Shepherdsville Real Estate
• Louisville Homes - Area 7 - FernCreek, Hikes Point, J-Town
• Louisville Homes - Area 8 - Douglass Hills, Hurstbourne, Middletown

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Erik Hitzelberger is a licensed REALTOR with RE/MAX Alliance in Louisville. If you need a Bullitt County 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 Estate or to Search for Bullitt County Homes 

Get Updates in a Reader

 Get Louisville Real Estate News by Email

Bullitt County Real Estate Market Report- This report analyzes property sales trends for Bullitt County homes over the last few months and versus the same time period last year.  The report includes number of homes sold, average listing price, average sales price, days on market (DOM), and current inventory.

Bullitt County encompasses the primary cities of Shepherdsville, Mt Washington, and Lebanon Junction.  Home sales from the smaller cities of Brooks, Fox Chase, Hebron Estates, Hillview, Hunter's Hollow, Pioneer Village and Zoneton are also included, but these are generally listed as Shepherdsville homes in the MLS.

Comments and Analysis

The Good.  List price and Sales price are on par with where they were last year (no significant decline).  Also the List Price to Sales Price ratio is very strong at 98%.

The Bad.  We see a significant decline in the number of Bullitt County homes sold so far this year versus the same time last year.  Considering the fact that many people were without travel for days upon end, this may be understandable.  However, it will an important stat to watch over the next few months.  One bright note is that 92 homes are currently pending.  Even if 75% get to closing, March will be a strong month.

The Ugly. While the drop in Sales Price over the last 4 years is not too significant, it points to 2 things.  First, Bullitt County home buyers are looking for value and purchasing at the lower end of the price range.  Second, sellers are not going to reap huge gains if they have owned their Bullitt County home for less than 4 years.  For the most part, individual neighborhoods are showing slight appreciation, but only the homes that are really ready to sell (see below) are moving.

Buyers

You still have a great opportunity to create your own success story and get a great deal on a Bullitt County Home.  The combination of historically low interest rates and flat prices means your payments are lower than they would have been last year.  At this point, first-time homebuyers are eligible for a $8000 tax credit. 

1. get serious,
2. get pre-approved, and
3. find a good Bullitt County Real Estate agent.

Sellers

If you are serious about selling your home, now is the time to get it on the market.  Buyers are definitely out and about.  If you want to sell, you need to

1. be realistic with your price,
2. prepare your house for sale, and
3. find an agent who can promote your Bullit County home properly.   

By following these 3 steps, I sold my personal home in 11 days last month.

* * * * *

Erik Hitzelberger is a licensed REALTOR with RE/MAX Alliance in Louisville. If you need a Bullitt County 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 Estate or to Search for Bullitt County Homes 

Get Updates in a Reader

 Get Louisville Real Estate News by Email

Bullitt County Real Estate Market Report- This report analyzes property sales trends for Bullitt County homes over the last few months and versus the same time period last year.  The report includes number of homes sold, average listing price, average sales price, days on market (DOM), and current inventory.

Bullitt County encompasses the primary cities of Shepherdsville, Mt Washington, and Lebanon Junction.  Home sales from the smaller cities of Brooks, Fox Chase, Hebron Estates, Hillview, Hunter's Hollow, Pioneer Village and Zoneton are also included, but these are generally listed as Shepherdsville homes in the MLS.

Comments and Analysis

At first glance, this looks devastating.  List price and Sales price are down 16% and the number of homes sold is down by over 41%.  While you won't find many people jumping for joy, taking a deeper look reveals a couple of interesting points

1) Avg DOM is 3 months.  This has been consistent over the past several years.  Bullitt County homes that are prepared to sell, priced correctly and promoted well do sell.  In other words, if you are serious about selling your Bullitt County home, you have a reasonable expectation of accomplishing that goal with the proper agent. 

2) SP/LP ratio is almost 96%.  Buyers are educated.  They understand home values and are willing to pay at or near full price for a properly priced home that is move-in ready.  The sellers who got contracts on their Bullitt County Homes in December knew this.

3) Price is not really off 16%.  As I reported in my Shepherdsville Market Report, one home sold for $1.5 million in January of 2008 and skews the data.  On average, prices are flat vs. 2008. 

Buyers

You still have a great opportunity to create your own success story and get a great deal on a Bullitt County Home.  The combination of historically low interest rates and flat prices means your payments are lower than they would have been last year.  At this point, first-time homebuyers are eligible for a $7500 tax credit.  However, the Senate has included a $15000 tax creditfor all homebuyers in their version of the economic stimulus package.  The best 3 things that you can do for yourself are to

1. get serious,
2. get pre-approved, and
3. find a good Bullitt County Real Estate agent.

Sellers

If you are serious about selling your home, now is the time to get it on the market.  Buyers were out in force before the ice storm and will be back now that the weather has started to turn.  If you want to sell, you need to

1. be realistic with your price,
2. prepare your house for sale, and
3. find an agent who can promote your Bullit County home properly.   

* * * * *

Erik Hitzelberger is a licensed REALTOR with RE/MAX Alliance in Louisville. If you need a Bullitt County 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 Estate or to Search for Bullitt County Homes 

Get Updates in a Reader

 Get Louisville Real Estate News by Email

Bullitt County Real Estate Market Report- This report analyzes property sales trends for Bullitt County homes over the last few months and versus the same time period last year.  The report includes number of homes sold, average listing price, average sales price, days on market (DOM), and current inventory.

Bullitt County encompasses the primary cities of Shepherdsville, Mt Washington, and Lebanon Junction.  Home sales from the smaller cities of Brooks, Fox Chase, Hebron Estates, Hillview, Hunter's Hollow, Pioneer Village and Zoneton are also included, but these are generally listed as Shepherdsville homes in the MLS.

Comments and Analysis

Let's call a spade a spade here.  December was not a particularly good month for sellers.  On the other hand, investors and serious buyers made out like bandits.  Almost 1/3rd of the homes that sold were short sales or foreclosures.  Many of the rest were priced to move quickly.  In fact, I had identified a couple as great steals.

Despite this, the Bullitt County market is still in decent shape.  Properties that are priced right are selling fairly quickly.  Only a few homes took more than 6 months to sell and each sold within 90 days of the final price change.  Home sellers who do not have to sell or are not trading up are keeping their homes off of the market.  This helps keep our inventory art a reasonable level.  

Buyers

You have the a real opportunity to get a move-in ready home at a historically low interest rate.  First-time home buyers can also take advantage of the $7,500 tax credit.  The best 3 things that you can do for yourself are to

1. get serious,
2. get pre-approved, and
3. find a good Bullitt County Real Estate agent.

Sellers

This is not the time to test the market.  If you want to sell, you need to

1. be realistic with your price,
2. prepare your house for sale, and
3. find an agent who can promote your Bullit County home properly.   

* * * * *

Erik Hitzelberger is a licensed real estate agent with RE/MAX Alliance in Louisville. If you need a Bullitt County Real Estate agent please email me or call 502.921.3989.

I specialize in the following areas of the Metro Louisville Area: Jeffersontown (J-Town), Okolona, Fern Creek, Shepherdsville, Mt Washington, Hillview, Brooks and Pewee Valley.  Click the following links to learn more about Louisville and Bullitt County Real Estate or to Search the Metro Louisville MLS. 

Bullitt County Real Estate Market Report- This report analyzes property sales trends for Bullitt County homes over the last few months and versus the same time period last year.  The report includes number of homes sold, average listing price, average sales price, days on market (DOM), and current inventory.

Bullitt County encompasses the primary cities of Shepherdsville, Mt Washington, and Lebanon Junction.  Home sales from the smaller cities of Brooks, Fox Chase, Hebron Estates, Hillview, Hunter's Hollow, Pioneer Village and Zoneton are also included, but these are generally listed as Shepherdsville homes in the MLS.

Comments and Analysis

For the second month in a row, the year-over-year sales are almost identical. This is great news as it is a strong indication that sales are starting to show some stability. 

While the drop in Avg DOM and $/sq ft may initially look promising, these stats reflect both an increase in the number of foreclosures and the fact that investors are very active in the Bullitt County real estate market.  In fact, 11 of the 54 homes sold were REO (bank-owned) homes.  Four of these sold in less than 2 weeks and three others in less than 1 month. 

This continues to be a great time to buy a Shepherdsville Home or Mt Washington Home.  Selection is high, Interest rates are low, Louisville Area Home Values are Stable, and first-time home buyers are eligible for a $7500 tax credit. 

If you are selling a Shepherdsville or Mt Washington home, make sure that it is clean and clutter-free before putting it on the market.  Once it is ready, make sure that you find a knowledgeable Bullitt County real estate agent to properly price and market the home.  Doing these things will attract as many buyers as possible and give you the best chance to sell quickly and for the highest price.

* * * * *

Erik Hitzelberger is a licensed real estate agent with RE/MAX Alliancein Louisville. If you need a Bullitt County Real Estate agent please email me or call 502.921.3989.

I specialize in the following areas of the Metro Louisville Area: Jeffersontown (J-Town), Middletown, Okolona, Fern Creek, 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 

Get Updates in a Reader

Get Louisville Real Estate News by Email

Bullitt County Real Estate Market Report- This report analyzes property sales trends for Bullitt County homes over the last few months and versus the same time period last year.  The report includes number of homes sold, average listing price, average sales price, days on market (DOM), and current inventory.

Bullitt County encompasses the primary cities of Shepherdsville, Mt Washington, and Lebanon Junction.  Home sales from the smaller cities of Brooks, Fox Chase, Hebron Estates, Hillview, Hunter's Hollow, Pioneer Village and Zoneton are also included, but these are generally listed under Shepherdsville in the MLS.

Comments and Analysis

This is the first time this year that same month sales has increased.  However, it is unlikely that this will become a trend as the financial market collapse will likely have a large impact on sales for the next few months.  Unfortunately, fear is playing an increasingly significant role in the market. 

The decrease in Sales Price is not a sign of decreasing home values.  Instead, it reflects the fact that buyers tend to be buying lower priced homes.  In fact, only 6 properties sold above $200,000 in September.  Investors are taking advantage of Bullitt County foreclosures and first-time homebuyers are purchasing to take advantage of the $7500 tax credit. 

This continues to be a great time to buy a Shepherdsville or Mt Washington Home.   Interest rates remain at historic lows, the regions economy is stable and selection is great.  Perhaps most importantly, Louisville Area Home Values are Stable.  The risk of a decline in prices over the next 2 years is minimal.  If you want to buy a Bullitt County home, now is the time to set aside your fears and take advantage of opportunities in front of you. 

If you wish to sell you Bullitt County home, you must be prepare the home for sale (clean, declutter, stage) and price it properly.  Finally, you must have a marketing savvy real estate agent who can promote your Shepherdsville or Mt Washington home to as many buyers as possible.   

* * * * *

Erik Hitzelberger is a licensed real estate agent with RE/MAX Alliance in Louisville. If you need a Bullitt County Real Estate agent please email me or call 502.921.3989.

I specialize in the following areas of the Metro Louisville Area: Jeffersontown (J-Town), Okolona, Fern Creek, Shepherdsville, Mt Washington, Hillview, Brooks and Pewee Valley.  Click the following links to learn more about Louisville and Bullitt County Real Estate or to Search the Metro Louisville MLS. 

Bullitt County Real Estate Market Report - This report analyzes property sales trends for Bullitt County homes over the last few months and versus the same time period last year.  The report includes number of homes sold, average listing price, average sales price, days on market (DOM), and current inventory.

Bullitt County encompasses the primary cities of Shepherdsville, Mt Washington, and Lebanon Junction.  Home sales from the smaller cities of Brooks, Fox Chase, Hebron Estates, Hillview, Hunter's Hollow, Pioneer Village and Zoneton is also included, but these are generally listed under Shepherdsville in the MLS.

Comments and Analysis

The number of homes sold in Bullitt County has been trending from 80% to 70% of the number sold last year.  A number of factors including tighter lending restrictions and general economic instability contribute to this drop.  As a result of the decrease in sales, inventory levels have risen and the absorption rate has increased significantly.  This month it is higher than any point in the last 4 years. 

Despite the decrease in number of sales, homes have generally maintained their value.  The drop in average price that you see is more a reflection of more people buying lower-proced homes than homes declining in value.  Additionally, fewer sellers (including builders) are putting homes on the market.  This is evidenced by the fact that 35 fewer homes sold this month vs 2007, but there still 9 less Active listings.  Those who do not have to sell or who are not trading up are wisely waiting for the market to come back. 

For buyers who are ready and able to buy a house, now is a great time.  Interest rates are still low, selection is high, the government is offering a $7500 tax credit (low-interest loan) to first-time home buyers and we have had significant good news from Ford and GE in the last couple of months that helps secure economic stability in the region.    

For sellers who do not have to sell or are not planning to buy a larger home, keeping your Bullitt County home off of the market may be the best decision.  If you do have to list your property, make sure that your home is Priced, Prepared, and Promoted to sell. 

Please note that these are general conclusions related to homes in Bullitt County.  Results may vary by subdivision.  If you have interest in a specific neighborhood or price range, please contact me and I'll gladly prepare a CMA to cover the specific property or area.

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Erik Hitzelberger is a licensed real estate agent with RE/MAX Alliance. He specializes in helping clients buy and sell homes in Louisville and Bullitt County including Shepherdsville, Mt Washington, Brooks, Fox Chase, Hillview, Pioneer Village, Hunters Hollow, Zoneton, and Lebanon Junction. Feel free to email or call me (502-921-3989) about your real estate needs.

Bullitt County Real Estate Market Report - This report analyzes property sales trends for Bullitt County homes over the last few months and versus the same time period last year.  The report includes number of homes sold, average listing price, average sales price, days on market (DOM), and current inventory.

Bullitt County encompasses the primary cities of Shepherdsville, Mt Washington, and Lebanon Junction.  Home sales from the smaller cities of Brooks, Fox Chase, Hebron Estates, Hillview, Hunter's Hollow, Pioneer Village and Zoneton is also included, but these are generally listed under Shepherdsville in the MLS.

Comments and Analysis

The number of homes sold in Bullitt County continues to be range hover around 70-80% of the number sold last year.  A number of factors including tighter lending restrictions and general economic instability contribute to this drop.  As a result of the decrease in sales, inventory levels have risen slightly and the absorption rate has increased significantly.

Despite the decrease in number of sales, homes have generally maintained their value.  Two prime factors account for this.  First, homes in Bullitt County never experienced a dramatic increase in price.  Therefore, buyers are willing to pay a price that is fair to both parties.  Second, fewer sellers (including builders) are putting homes on the market.  This is evidenced by the very slight increase in actual inventory.  Those who do not have to sell or who are not trading up are wisely waiting for the market to come back. 

For buyers who are ready and able to buy a house, now is a great time.  Interest rates are still low, selection is high, the government is offering a $7500 tax credit (low-interest loan) to first-time home buyers and we have had significant good news from Ford and GE in the last couple of months that helps secure economic stability in the region.    

For sellers who do not have to sell or are not planning to buy a larger home, keeping your Bullitt County home off of the market may be the best decision.  If you do have to list your property, make sure that your home is Priced, Prepared, and Promoted to sell. 

Please note that these are general conclusions related to homes in Bullitt County.  Results may vary by subdivision.  If you have interest in a specific neighborhood or price range, please contact me and I'll gladly prepare a CMA to cover the specific property or area.

* * * * *

Erik Hitzelberger is a licensed REALTOR with RE/MAX Alliance in Louisville. If you need a Bullitt County 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 Estate or to Search for Bullitt County Homes 

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Late updates from April lead to a significant increase in sales from what was reported last month.  When this information is combined with May sales, the Inventory Index is starting to look pretty good.

Compared to last year, fewer sellers are putting their Bullitt County homes on the market.  This is helping keep the inventory levels reasonable and prices stable. 

The good news is tempered by still tightening lender standards which continue to make it harder for prospective buyers to get loans.  A recent move by lenders to cut available balances on credit cards and home equity loans is also going to hurt.  As credit limits are lowered, credit scores generally drop.  Buyers may want to check with their lenders to make sure that they are not negatively impacted by any of these changes.

The good news for buyers is that selection continues to be great.  Sellers are updating properties before listing them and it is easy to find a fairly priced property in move-in condition.

Without further ado...

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Erik Hitzelberger is a licensed REALTOR with RE/MAX Alliance in Louisville. If you need a Bullitt County 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 Estate or to Search for Bullitt County Homes 

Get Updates in a Reader

 Get Louisville Real Estate News by Email