Louisville Real Estate Market Report
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.
Area 7 of the Louisville MLS covers homes for sale in FernCreek, Hikes Point, and Jeffersontown (J-town). Some of the larger subdivisions in this area are Breckenridge Meadows, Glenmary, Little Spring Farms, Orchard Lakes, Saratoga Springs and Saratoga Woods.
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Key Points
- Home Sales in this area of Louisville have really dropped off. Last month saw a decrease of almost 50% from the same time last year. Not surprisingly, Days on Market and Absorption Rate have shot up.
- The good news (for homeowners) is Sales Price coninues to be slightly higher than last year. For sellers, this is an indication that you can sell your home if you have a Louisville real estate agent who understands how to help you prepare, price, and promote your home.
- Buyers should take note that selection is great, but not too many sellers are desperate. With the proximity to shopping, restaurants, good schools, etc, this area remains desirable and seller know it. For now, most seem content to wait it out. If you do find a seller who is motivated, you better act quickly. Have your agent check comps to verify the price is right and then present a reasonable offer.
- Buyers and Sellers should both be aware that part of the reduction in sales price is due to the infusion of new home owners. These buyers are taking advantage of the $8000 first-time home buyer tax credit and tend to purchase entry-level homes.
Additional Market Reports (May 09)
Louisville Homes - Area 8 Douglass Hills, Hurstbourne, Middletown
Bullitt County 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
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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
