For several years, I’ve highlighted the most expensive homes in Louisville, generally once a year. Last year’s story highlighted the incredible Melcombe Estate that exchanged hands for a whopping $3 million.
This annual piece also highlights just how well these million-dollar properties have sold in Louisville during the year, then compares it with years gone by. It’s one of the most entertaining articles of the year, at least from this writer’s perspective. So sit back, grab a beverage, and let’s see how luxury Louisville real estate performed in 2015!
Checking the sales totals
During 2015, 57 properties sold for $1 million or more on our MLS. This is up big from the year before, when just 26 were sold. Of the total, one was a condominium building and five were listed as farms, which leaves 51 single-family homes to round out our list.
To get a feel for where these amazing homes are located, here’s a map. All but one is shown. The missing luxury home is located just northeast of Lexington in a luxury community called The Grange.
I also like to compare each year in each of the following criteria.
- Average days to sell
2015: 205 | 2014: 151 | 2013: 182
- Average sale price
2015: $1,418,476 | 2014: $1,412,542 | 2013: $1,583,851
- Change from asking price to sales price
2015: 8% | 2014: 5% | 2013: 8%
- Average sold price per square foot
2015: $282.69 | 2014: $262.68 | 2013: $270.62
It’s interesting to see that while these high-end Louisville homes did take longer to sell than in previous years, the price per square foot continues to increase.
Keep in mind many of these homes are on large tracts of land that doesn’t factor into this last calculation but certainly is important when evaluating sales price.
Louisville’s most expensive home
So which home was the most expensive? Actually, this year, the most expensive property sold for the year didn’t include a home. It was a large parcel of land in Oldham County.
According to the Greater Louisville Association of Realtors database, 8400 Old Zaring Road in Crestwood sold for $3.1 million last April. This land is in a great location and it does include 596 acres ready to be developed. This comes to $5,200 per acre, which appears to be quite good. I fully expect a mid- to high-end housing development in this location.
But we want photos of a luxury home, right? Pictures of grass aren’t super exciting.
So, next up on our list is 2403 Greten Lane in Anchorage, which sold for $2.59 million. While many of Anchorage’s estate homes were built during the early part of last century, this home was built in 1990 and boasts more than 7,000 square feet of living space with another 2,470 in the impressive finished basement.
As you might expect, the most expensive home sold in Louisville during 2015 is amazing! There’s so much to like about it, the only question that remains is, “How are my investments doing?”