Greg Fleischaker

Just for the fun of it, I spent a little time today looking at the median prices of Louisville Luxury Homes compared to luxury home prices in Prospect. For this activity, I defined luxury as the most expensive 25% of the homes on the market, in each market. As expected, the price of the homes available in Prospect was significantly higher than the larger market of Louisville. However, I didn't expect the price difference to be so large as the chart below indicates.

Having recently completed a successful sale in the Louisville Woods of St Thomas Subdivision, my client asked me to put together a short and sweet update of what other real estate activity there has been in the Woods of St Thomas. Very quickly, I was able to print something off of the local MLS, and email it over, but I thought I would also share it here, just in case anyone else was interested. The rough break down is that there have been 21 new listings in the subdivision so far this year, and that 11 homes have sold, which is a very respectable percentage in this environment, and certainly beats the city as a whole and most other subdivisions. Having sold a bunch, there are now only 4 Louisville Woods of St Thomas homes for sale, but I would expect to see that number increase early next spring as residents there are seeing their neighbors fair pretty well on the open market.

I have a friend who lives in the Sutherland Subdivision of Louisville, or Prospect to be more precise, and he was curious how the micro real estate market was behaving for his neighborhood. Since it is pretty easy to pull that info off of the local MLS, that is exactly what I did, and here is what I found. So far this year, there have been 23 listings in Sutherland, but only 12 homes are currently active today. Of those 23 total listings so far in 2009, only 7 have sold and closed in Louisville's Sutherland Subdivision, with another 18 listings leaving the market with a contract. Obviously, that last number includes a few homes that came on to the market in 2008, but it is still worth looking at, as we can see that less than 1/3 of new listings, or Louisville Sutherland homes for sale resulted in a completed contract and sale.

I am going to spend just a little bit of time looking at luxury homes in the Highlands today, and what a graph of their asking price over the past six months might look like. Normally, when I track prices for all of the Highlands, which I loosely define as 40205 and 40204, 40205 always has the higher price. However, it looks a little different when I break out only the most expensive 25% of homes on the market in each zip code, and graph those prices next to each other. Suddenly, 40204 jumps to the top of the heap due to the fact that some of Louisville's nicest, and most expensive, homes are lined up on Cherokee, which is in the 40204 zip code. If you look at the graph below, you can clearly see that the most expensive quarter of homes in 40204 have a median asking price that is $75,000 higher than those in 40205.

If you'd like more information on Louisville Luxury Homes or high end homes in general, please make sure to visit my website and I'll be happy to answer your questions.