Our housing market saw a nice jump in March over February, but hardly what we had hoped.
Home sales continue to lag behind the previous year for the sixth straight month.
In Jefferson County, 694 homes were sold in March 2010. Only 621 homes were sold this March, a drop of more than 10 percent.
Home values didn’t fare so well either. A high median home value back in July 2010 of $145,000 currently is $127,500 for the month of March.
I do expect this to improve over the next couple months but typically, when sales fall below standard levels, home prices often improve. This clearly hasn’t been the case here in Louisville for the last three months where both values and sales dropped.
Time to set our new goal … let’s see if the market can best last April’s sales total of 782. Anyone care to lay odds?