It’s always interesting to learn where our perceptions were incorrect, or vice versa, you never know.
Even as an expert in Louisville real estate, I’m always learning things about our market that surprise me. For example, going into the data gathering for this article, I felt fairly sure that Norton Commons would rank as the highest cost per square foot in Louisville real estate.
Sure enough, clocking in at $188.06/sqft, Norton Commons tops the charts for our fair city. It even bests the exclusive blue-bloods in Anchorage, coming in second at $170.67.
What I didn’t perceive was the amount of range between the different parts of town. You can buy a lot of home for the money in south Louisville.
Keep in mind, this survey looked just at homes sold during the past 12 months and were recorded in the system. Determining which homes to include in neighborhoods like Lake Forest is straight-forward. For a second-class city like Jeffersontown, made up of many different neighborhoods, it’s a bit more complicated.
The Greater Louisville Association of Realtors (GLAR) has fields for subdivision and city but that doesn’t mean Realtors always enter the correct values.
So, for a sub-city like Middletown, listings are more often assigned to a neighborhood like Douglass Hills, and given “Louisville” as their city. All the complexity just makes life more interesting.
Now for the results! Here’s the full rundown of areas surveyed.
Sold Price Per Above Grade Finished Sq. Ft. for Various Louisville, KY Areas
12-Month Period Ending 2/27/14
|$77.59||Pleasure Ridge Park|
Looking at the list of results, I must be honest and share that I was surprised that Glenview wasn’t higher and that St. Matthews wasn’t lower. Other than those, I felt the numbers bore out local perceptions.
What say you?