Louisville Real Estate Market Report for Area 8
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.
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Key Points
- After a relatively slow March, April sales really picked up. Lake Forest and Polo Fields had the most activity as 6 homes sold in each of these neighborhoods. The median price was $258,000 and 4 homes sold for over $500,000.
- Sellers should take note of a couple of points. First, average time on market is has increased as a result of the fewer people buying in these price ranges. Second, the non-bank-owned homes that sold have descriptions such as "impeccable, like-new, updated, etc." If you really want to sell, find a Louisville real estate agent who understands how to help you prepare, price, and promote your home. If you are thinking of testing the market, I'd strongly advise you not to waste your time.
- Buyers should expect to find a well-prepared, well-priced, move-in ready home in the neighborhood of their choice. That being said, sellers are still commanding reasonable offers. The List price to Sales Price Ratio of 94% indicates few sellers are taking much below 5% off of list price.
Additional Market Reports (Apr 09)
Louisville Homes - Area 7 Fern Creek, Hikes Point, J-Town
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.
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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
