Louisville Homes ~ Area 8 Real Estate Market Report ~ May 2009

Louisville Real Estate Market Report for Area 8 (40223, 40243, 40245)

This report analyzes property sales trends for Louisville homes over the last few months and versus the same time period last year. The report includes number of Louisville homes sold, average listing price, average sales price, days on market (DOM), and current inventory as well as analysis for buyers and sellers.

Area 8 of the Louisville MLS covers homes for sale in Douglass Hills, Hurstbourne, Middletown as well as areas outside of the Gene Snyder expressway. Zipcodes for this area include 40223, 40243, and 40245. In addition to those already mentioned, some of the larger subdivisions in this area are Lake Forest, Locust Creek, Owl Creek and Polo Fields

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Key Points

1. The number of homes sold continues is hovering around 20% of last year. Additionally, many of the homes sold are at the lower end of the spectrum for homes in this area of Louisville. That being said, I see little to no sign of wide-spread depreciation in Area 8. Proximity to schools, malls, restaurants, and easy access to I64 and both expressways make this area one of the most desirable parts of east Louisville.
   
2. Because homes in this area are sought after, sellers should be able to achieve their goal and move on with their lives. However, this takes much more effort than planting a sign in the yard and putting the listing on the MLS. You must find a real estate agent who can help you prepare, price, and promote your home.
3. Buyers should take note that selection is great. As you can see on the Absorption Rate graph, historical rates are near the 4 month mark. In the past, if you wanted to live in this area of Louisville, you mave have had to make sacrifices in terms of home features or condition. Now, you should be able to find a well-kept home in your price range.

Additional Market Reports (May 09)

Louisville Homes - Area 7 Fern Creek, Hikes Point, J-Town

Bullitt County Homes

Shepherdsville Homes

Mt Washington Homes

First Time Home Buyer Tax Credits for Louisville Home Buyers

$4500 Down Payment Assistance - Get Down payment Assistance money through KHC.

$8000 Tax Credit - Get an $8000 Tax Credit on your 2008 or 2009 Tax return when you buy a home.

$8000 Tax Credit Amended - Find how how to use the Tax Credit for a portion of your downpayment

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Erik Hitzelberger is a licensed REALTOR with RE/MAX Alliancein Louisville. If you need a Louisville Real Estate agent please email me or call 502.921.3989.

I specialize in the following areas of the Metro Louisville Area: Prospect, Middletown, Jeffersontown (J-Town), Fern Creek, Okolona, Shepherdsville, Mt Washington, Hillview, Brooks and Pewee Valley. Click the following links to learn more about Louisville and Bullitt County Real Estateor to Search for Louisville Homes

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