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March 2021 | Louisville Real Estate

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February

We’re so excited to announce the inaugural Eleanor Foreman Scholarship honoring the pioneering Black real estate professional who integrated the Louisville Board of Realtors® in 1963.

This scholarship will pay for real estate school, licensing, trade association memberships, continuing education and ongoing training as a member of Kentucky Select Properties. It’s our hope that, like Eleanor, scholarship recipients will use their real estate careers to not only serve their clients but also to give back to the Louisville community and eventually serve as mentors to other aspiring real estate professionals.  Eleanor

Eleanor passed away last summer at the age of 94 but we worked closely with her family to make the scholarship a reality. “On behalf of my entire family, I am both honored and proud of this scholarship that Kentucky Select Properties has created in memory of my mother,” said Eleanor’s son, Jeffrey Hayes. “Mom would have been very happy with this recognition. This scholarship gives minorities the...

February 2021 | Louisville Real Estate

Jan 21 stats

February

If this sentence were a new house listing it would be gone before you could finish reading it.

That’s not an exaggeration. In the Louisville market, and throughout most of the country, we are experiencing the most acute shortage of housing inventory since anyone can remember (and certainly since anyone started to track it).

According to real estate data firm Altos Research, as of February 8, the number of active single-family homes for sale in the United States stood at 355,000. For context, just five years ago in January 2016, that number was 943,429. That’s 62% LESS inventory.

In Louisville, there were 1,980 active listings on the market as of January 15 compared to 3,383 on January 15, 2020. This represents a decrease of 41.5%.

At 38% of total home buyers, Millennials and other young adults made up the largest share of purchasers in 2020. That demand trend should continue this year. As, according to the Washington Post, should the trends of buyers who delayed purchasing homes because of the pandemic; from existing homeowners who need larger spaces to accommodate parents working from home and children attending school...

What The Louisville Housing Market Needs

From the Access Louisville podcast + Business First: Real Estate Reporter Marty Finley brings us up to speed on a couple of big local residential projects, including a $100 million mixed housing development from RJ Thieneman planned along South Hurstbourne Parkway and Watterson Trail. This news broke last week and since then we've also had stories about two new planned developments from homebuilder Fischer Homes — one on the East End and another in southeast Louisville. An interesting trend here is that these developments will offer homes in the $180,000 to $300,000 range. That's important because that price range is in line with consumer demand right now. Previously, we were seeing a lot of announcements about new luxury homes coming into the market. Listen to podcast.

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Fear and Loathing in Louisville

Hunter S Thompson

From GQ.com: Horses are a minor footnote in Hunter S. Thompson’s 1970 article, “The Kentucky Derby is Decadent and Depraved.” The piece is less about what Thompson saw than what he hoped to see––the depravity that exemplified the culture of his hometown; the brouhaha, the drunken Kentucky colonels identifiable by whiskey-stained linen suits, but clean shoes. Read more.

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These Historic Landmark Buildings Have Become Homes To Cutting-Edge Art

From Architectural Digest: When philanthropist and art collector Steve Wilson and his wife, Laura Lee Brown, first dreamt up the 21c Museum Hotel in Louisville, Kentucky, it was conceived as a one-off. Located in the city's historic district, the hotel also serves as a means to share the couple’s love of art, as well as their impressive and ever-growing collection (which is as challenging and progressive as anything New York has to offer), with a wider, underserved audience. Read more.

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The 10 Coolest U.S. Cities To Visit In 2018

Certain cities are on everyone’s wish lists: New York, Austin, Nashville. And they belong on those lists. But it’s a big country, and there are so many more places to see—including, increasingly, cities that we never would have given a second glance. Thanks to grassroots and civic revitalization projects, creative types taking advantage of cheap real estate, and the realization that small can be beautiful, a new list of must-see cities is forming. Read more.

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The Weekend Guide To Eating and Drinking Your Way Through Louisville, KY

Via Forbes.com: For many Americans, the city of Louisville is synonymous with three things: bourbon, Hot Browns (a local dish of thick toast topped with turkey, bacon, and Mornay sauce), and the Kentucky Derby. While all of these things still deserve our attention, there’s another good reason to visit this vibrant Southern city: outstanding restaurants and bars. Read more.

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Moving to Louisville?

Louisville, Kentucky’s largest city, is more than baseball bats and horseracing (although we’ll talk about those in a minute). Being the 27th largest metro area in the U.S. has its perks. For example, it’s a large enough city to draw in job opportunities (the city recently ranked #18 nationwide for job opportunities in health care and affordable housing) while maintaining a big helping of quaint Southern charm. As you consider purchasing a new Louisville home, we have a few facts for you to consider about the city.

Louisville Bridge

 Derby City

Churchill Downs in South Louisville plays host every year to more than 150,000 attendees of the Kentucky Derby, held the day after the Kentucky Oaks, which itself is the third most-attended day of racing in the U.S. (For reference, the most recent Superbowl, held in Arlington, TX, was the most-attended Superbowl in history and saw only 103,219 attendees.) On top of the horse races, which continue in a tradition started back in 1875, the derby is also known for its fashion: those famed hats. The large, feathered, and otherwise extravagant headwear started becoming a staple at the event in the 1960s, and have attracted nearly as many admirers as the derby itself. While donning the stylish chapeaus, the derby observers are also downing approximately 120,000 mint juleps, the event’s traditional drink.

Strong Housing Market

Louisville’s real estate is in a great stage for buyers right now. In fact, the city was recently named the ...

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