Jacki Shafer | Phone: 502-643-7653
Address: 9911 Shelbyville Road, Suite 100, Louisville, KY 40222

Jacki's Real Estate Blog

30
Dec 2011

The Louisville Real Estate Market And The Wicked Witch Of The West

When I was a little girl, the Wicked Witch of the West in “The Wizard of Oz” scared me half to death.  I can remember watching the movie through small slits in my hands as I covered my eyes and shook with terror. 

Just as her green face struck terror in my young heart, it can be just as frightening to think about selling your home in today’s market and losing all that “green” from your wallet.

But Is The News All That Scary?

For the Louisville, Kentucky real estate market, the answer is “yes”, “no”, and it depends upon your particular area, subdivision and price range home.

Let’s Look At Real Estate Sales In The Metro Louisville Area During 2011, (As Compared To 2010):

 

MLS Year to Date Closed/Sold Profile Report

Category – Residential
Statistics for Entire MLS

 

Sale Price Range

Last Year
01/01/2010 – 12/31/2010

This Year
01/01/2011 – 12/31/2011

Percent Change

$0 – $99,999

2458

2694

9.60%

$100,000 – $149,999

2255

2014

-10.68%

$150,000 – $199,999

1486

1329

-10.56%

$200,000 – $249,999

991

884

-10.79%

$250,000 – $299,999

570

587

2.98%

$300,000 – $349,999

360

353

-1.94%

$350,000 – $399,999

223

218

-2.24%

$400,000 – $449,999

159

155

-2.51%

$450,000 – $499,999

86

101

17.44%

$500,000 – $549,999

71

52

-26.76%

$550,000 – $599,999

46

49

6.52%

$600,000 – $699,999

55

66

20.00%

$700,000 – $799,999

32

32

0.00%

$800,000 – $899,999

23

12

-47.82%

$900,000 – $999,999

11

14

27.27%

$1,000,000 – $1,499,999

15

16

6.66%

$1,500,000 – $1,999,999

1

6

500.00%

$2,000,000 and Above

2

2

0.00%

Total

8844

8584

-2.93%

 

As you can see, home sales reported through the Greater Louisville Association of Realtors show that the number of sales dropped 2.93%  in 2011 as compared to sales numbers in 2010.

Interestingly, sales came in 10.68% less for homes priced $100,000 – $149,999.  For homes priced $150,000 – $199,999, the numbers were 10.56% less.  In the usually robust price range of $200,000 – $249,999, the numbers came in even lower:  10.79% less in 2011 than in 2010.

For homes priced $450,000 – $499,999, the pendulum swings in the other direction.   86 homes sold in this price range in 2010, and jumped to 101 homes sold in 2011 (an increase of 17.44%), followed by a sharp decrease in homes priced $500,000 – $549,999 (- 26.76%).

Homes priced $600,000 – $699,999 saw a whopping 20% increase in number, and scrolling down to homes priced $1,500,000 – $1,999,999, there was a 500% increase in homes sold from 2010 to 2011.

So What Should We Expect For 2012?

I would venture to say even the Great OZ himself doesn’t know the answer to that one.  But I do believe that as long as the economy shows signs of recovery and mortgage rates stay this attractive, Buyers will still be clicking their heels and saying:

Oh, you know the answer to this one!

“There’s no place like home.”

“There’s no place like home.”

“There’s NO place – like home.”

 

 

 

 

If you would like a statistical report on home sales in your specific Louisville area neighborhood, please send me a comment, or email me @ Jacki@TheShaferTeam.com .  Our Team sells homes all over the metro Louisville area, including Jefferson, Oldham, Henry, Spencer and Trimble Counties in Kentucky.

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