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Louisville Real Estate Market Defies Odds and Trends

White hot market

by MIKE HALL, Owner/Broker/Agent

Unless you have been living under a rock you are probably aware that the Louisville real estate market has been white hot for several consecutive months.

Experts from around the country have been awed by the continuous growth. In the area dubbed “The Golden Triangle,” population growth has outpaced available housing units. As industry continues to grow and new workers continue to flood in, the few houses that are for sale are snatched up quickly for record prices.

Good for who?

If you are selling your home, this news is fantastic. Values and demand continue to rise – placing more money in your pocket. If you are a homeowner, equity is building every week – helping you to accumulate wealth.

Stats

The Greater Louisville Association of Realtors reported sales up 2.86 percent year-to-date for 2017. Sales in September 2017 were 1,565 versus 1,671 last September. The average price YTD was up 5.39 percent and the median price was up 5.46 percent.

As a home buyer, you need an experienced agent to navigate you in this market and through the home buying process. Once you find the home of your dreams and purchase it, you’ll join...

Germantown Gets Down

To Business…

by MIKE HALL, Owner/Broker/Agent

Germantown Condo

Germantown is an up and coming neighborhood in the Louisville Metro. With its close proximity to downtown and nightlight, it draws lots of young professionals.

Hot neighborhoods, like Germantown, are hardest to get into because of the limited amount of existing housing and the limited areas available for new development. However, there is hope. Old, industrial buildings are starting to be repurposed across the city. Drawn to the vintage charm, many developers are recognizing the potential in repurposing rather than building new.

One such example is the recently announced development of upscale condos in an abandoned Germantown warehouse. East Kentucky Street will see the invigoration of a property currently owned by Bargain Supply Co.

Developer Ryan Lykins will bring 25 luxury lofts to the space which will be sold rather than rented. Lower level condos will range from $200,000 to $300,000 while penthouse properties will go for up to $500,000. The building will boast up to 18-foot ceilings and underground parking for added convenience. Keep up to date on the development by reaching out to your Red Edge agent!

Source: The Courier-Journal

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