Louisville Housing Market Update June 2012
Louisville Home Sales have increased 15% through May 2012.
2012 year-to-date home and condo sales in the Greater Louisville area are at 4673 units through May 31st which is 15% above the 4070 homes sold through the same period last year. Prices are also up 4.2% to an average sales price of $163,013 from $156,388 in 2011.
The average sales price of $163,013 is almost back to 2005 levels. Prices peaked in 2007 at an average sales price of $167.721.
Click here for the graph showing the trends since 2003. Many properties are selling in less than a week and getting multiple offers. All is a good sign our market is returning to a healthier state and looking good for the future.
Is there a way to determine how many of the sales are distressed situations.....foreclosure, short sell, etc?
To my knowledge the Greater Louisville Board of Realtors does not have a field that indicates a distressed sale to estimate what percentage of homes sold are either due to foreclosure or a short sale. I would estimate some areas of town are 40-50% of distressed sales. Other areas of town in high demand like the Highlands and St Matthews I would estimate below 5% are distressed. If you have a particular area I could pull the sales and manually calculate the percentage that is distressed over the last 30 days.
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