Activity steps up in September as home prices drop [Louisville Housing Report]
by Tre Pryor
Let’s begin with the positive news. (Trying hard to be a glass half full person.) For the third straight month home sales are up in Louisville, KY. That’s great! Home sellers throughout the county have needed to drop their home price a bit to make that happen, but they are selling, moving forward, and getting on with their lives while many still have their homes stuck on the market.
676 homes were sold in September, compared to just 547 for September, 2010. That’s a 20% improvement. This on the heels of a strong August, as well.
If you’d like to see activity by MLS area, there are Monthly and Quaterly Housing Reports just released on LouisvilleHomesBlog.com. It’s interesting to look at the area where your home resides to see if home values are trending up or down.
Now for the not-so-positive news. Home values dropped quite a bit from the previous month. In August, the median price of homes sold was $139,500. In September, that number dropped to $127,000.
This also takes the trend from a high of $136,512 in December, 2010 to a new mark of $132,083. This 3.3% drop aligns fairly well with numbers coming from other sources.
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