Condo Market in Jeffersontown (J'Town) Kentucky - Mid Year Report for 2009

The J'Town Condo Market is probably doing better than most people think. As we continue in a depressed market, with a glut of condos in downtown Louisville, most people assume that condo sales are down across the city. However, this is simply not the case, as I will illustrate with statistics drawn from the J'town part of our city.

Since the beginning of the year, over 40 units have sold, just in Area 7 of Louisville, which is basically Jeffersontown, also known as J'Town, with part of Fern Creek thrown in. Looking at those 40 units a bit closer, we see that the average sales price is over $189,000, well over the average sales price for single family homes in all of Jefferson County. In addition, data shows that the average dollars per square foot of sold condos in J'Town was $126.81, again, a very healthy and respectable number. Finally, the average Days on Market (DOM) measurement comes in at just over 160 days, which is close to, but a little lower, than the DOM for single family homes in Jefferson County.

When all of the numbers are taken together, it appears to me that condo sales in J'Town are still very much alive and a viable option for anyone interested in that lifestyle. You know, the lifestyle where you aren't responsible for mowing the lawn, shoveling snow, or painting the outside of your home! Doesn't sound too bad, does it?

Below is a picture of one of the newer condo projects in J'Town, with a few units still left. I am not the listing agent, and am not trying to push my product here, but simply wanted to show what is available at very affordable prices.

This development is called Magnolia Place, and is located just off of Six Mile Lane in J'Town. Again, let me reiterate, I AM NOT THE LISTING AGENT, but I find myself really liking this project! It was built by Redlee Construction and Development and is comprised of 2 bedroom units, around 1,150 square feet, and $108 per sq ft, which is well under the average sales price of the area. In addition, these units are brick, have garages available, and even hardwood in some circumstances.

If you would like more information, please feel free to visit their New Construction J'Town Condo website at www.Magnolia-Place-Condos.com to see pictures and virtual tours.

If there is anything that I can do to assist in your quest for more information in regards to Louisville Ky real estate, please don't hesitate to visit my website at www.GregFly.com, call me at 1-888-GREG-FLY, or email me at greg@gregfly.com.