Good morning. I am getting ready to head to 1st Independence Bank in New Albany for a live broadcast of Big Talk on Small Business on AM1080, a local radio show aimed at small business owners.
I will often get asked how the market is doing so I brush up on a few statistics from our MLS system at the board. I thought I would share a few with you:
February 2007
Sales: 917 Avg List$: 163,021 Avg Sale $: 157,084 Days on Mkt: 91 Months of inventory: 6.99
February 2008
Sales: 715 Avg List$: 173,605 Avg Sale $: 165,908 Days on Mkt: 86 Months of inventory: 11.15
If you have read other blog posts, you may remember that under 6 months of inventory is a seller's market and over 6 months is a buyer's market.
If you live in Louisville or the surrounding areas, Sunday was wonderful. A spring-like 70 degrees and sunny. I had scheduled an open house, but thought that most folks would be out enjoying the day instead of house hunting. Was I wrong!
The beautiful weather brought out many shoppers and I had a prime spot in one of Louisville's hotest neighborhoods, the Highlands.
One of the couples I met were from New York. They are here with the planetarium. Planetarium? Yes, we have a planetarium on the campus of U of L. As an alum I should have known that, but I had forgotten. Apparently the Rauch Planetarium has been an off again, on again fixture on the Belknap Campus.
But things could be changing for the Planetarium. Stay tuned. Check out current shows at http://louisville.edu/planetarium/index.html.
Liberty Green
This is the second HOPE VI project in Louisville, behind the nationally-renowned and successful Park DuValle. Still under construction, Liberty Green has already changed the landscape of what was formerly the public housing development, Clarksdale Homes.The revitalization project includes the relocation of the more than 700 Clarksdale Homes residents in order to accommodate a new, mixed-income neighborhood. The Louisville Metro Housing Authority is replacing every housing unit from the Clarksdale development either in the new Liberty Green development or elsewhere in the community.
Scheduled for completion by 2009, the Clarksdale HOPE VI will ultimately result in about a $233 million investment through a public-private partnership to build rental and ownership opportunities in the new mixed-income community.
Currently under construction, but starting to take shape is the mixed use development brought to us by the same company that designed the Preston Point point. Learn more at Potter and Associates website.
Fleur de Lis Condos
This $22.5 million project will be a new 5-story building with 74 condominiums and retail space. Preserving the historic Brinly-Hardy site's appearance, the design includes two interior courtyards.
Located across the street from Slugger Field, this project is part of $150 million in new investment as a result of the popular ballpark and newly revitalized East Market Street arts district.
If you have not taken a drive down the east end of Market Street lately, you won't recongnize it. There are many residential developments like the ones I have been detailing here and new shops, resturants and other businesses.
Mercantile Gallery Lofts
This $10 million adaptive reuse project will convert two historic buildings and add a new building, into 47 condominiums and retail space.
Located at 301-311 E. Market Street, this location has moved from being a diamond in the rough to a an up-and-coming revitalized hotspot, due to the recent investments in Waterfront Park and Slugger Field.
Mercantile Gallery Lofts includes 56 parking spaces in an adjoining garage. Find out more.
www.louisvilleky.gov/DowntownDevelopment/Downtown+Projects.htm
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