While many areas of the country experienced devastating downward numbers in the marketplace, Louisville remained relatively steady. Because this area historically has never seen huge price jumps, but rather tends to keep conservative but predictable appreciation values, we also did not suffer from severe price drops.
For the first time in my 28-year career, I found myself helping families negotiate through short sales and dealing with the heartbreak of foreclosure along with the rest of the country. But our numbers paled in comparison with the devastation that hit many other states.
Now the housing market is slowly but surely climbing out of an 8-year slump. Take a look at the sales statistics below that compares 2013 sales to 2012 sales. One graph shows all residential sales of homes SOLD through our Louisville area MLS (including surrounding counties in Kentucky and Indiana).
A Quick Breakdown
- 2,000 more homes SOLD in 2013 vs 2012
- Homes SOLD faster: Average days on market dropped from 97 days to 79 days
- In Area 9, for example, 165 more homes SOLD. The Average Sales Price increased from $240,133 to $265,195 – an increase of over 10%.
- In Oldham County (Areas 20 and 21), 103 more homes SOLD. The price increases were a much more modest: The Average Sales Price in Area 20 increased from $289,709 in 2012 to $295,681. For Area 21: $239,447 in 2012, and increased to $241,827 in 2013. But they SOLD much more quickly: from 115 and 105 days in 2012, to only 89 and 81 days in 2013.
Once again, the reports show that the numbers are going up. In some areas the numbers are much more dramatic. Regardless, the numbers are positive, and this Louisville Real Estate Chick is glad to report that this is GREAT news!