Louisville real estate jumps 29 percent in home sales; sale prices improve as well!

By Tre Pryor | Published: June 11, 2012
Charts of Jefferson County Louisville KY home sales and house values for period ending May 2012

Best month yet as home sales jump 29%! This while the median sales price for May moves up almost $5,000 to $140,000.

Well, it’s about time!

Most of us know that the housing market couldn’t stay depressed forever. It was just a question of when a return to normalcy would occur.

The answer? Now.

As you can see from the chart the improvement in May was pretty dramatic. (As an aside, aren’t pictures so much better than data and tables?)

The trend-line for median home prices peaked at $136,054 on February, 2011. Then at that time, they steadily fell for the next 12 months to a low of $129,679. That’s a 4.69-percent drop.

The next three months saw values spike upward, which is welcome news to Louisville home sellers everywhere.

More great news, real estate sales activity has continued to gain momentum. In fact, home sales have outpaced the previous year in 9 of the last 11 months; the other two practically dead heats.

May 2012 saw home sales jump 29 percent over May 2011 — admittedly a poorly performing month.

There’s a lot to like about this recovery.

We now know how much housing affects the other sectors so if our economy is truly going to get moving, this month’s performance may be the sound of the starting gun.

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About the author

Tre Pryor
Tre Pryor is an Internet-veteran turned tech-savvy, Louisville real estate advisor and Realtor. One of the top agents in Louisville, you can find his work here at InsiderLouisville.com, Louisville Homes Blog or follow him on Google+ or Twitter. Click here to read other articles by Tre Pryor.
  • http://www.michaelmusgrove.com/about/ Michael Musgrove, MBA

    It’s going to be interesting to see how the subsequent shortage of listings in Louisville (that are priced well and in good condition, of course) from this pop impacts the market in the upcoming months. Fingers crossed. Lots of foreclosures in the pipeline of course, but I’m not sure how much of a factor that’s going to play since they’re being spoon-fed to the market vs. dumping them out all at once, for obvious reasons.  

    I’m glad buyers and sellers are taking advantage of the crazy-low rates and attractive prices, but in order to sustain a fraction of this activity, there will need to be buyers that have the downpayments and/or credit scores, as well as the prospective sellers that can qualify in order to list, sell & relocate. 

    Of course, a good Realtor can make and close deals that may seem impossible but man, we need more listings! Who would’ve thought we’d have a glut of buyers this summer unable to find their perfect place in Louisville because of a listing drought?

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