Louisville Market Recap - First Half of 2016

While we do our best to assist buyers and sellers throughout the community, Kentucky Select agents excel in a few particular Louisville neighborhoods and market segments.

Based on recently released statistics from the MLS and BrokerMetrics® for the first half of 2016 (January through June), we’re excited to share that Kentucky Select had the leading market share by total sales volume - in all price ranges - in the following zip codes:

• 40204 (Parts of Germantown, Cherokee Triangle and the Original Highlands)
• 40205 (Upper Highlands, Cherokee Park and parts of Seneca Park)
• 40206 (Clifton, Crescent Hill,, Avalon, Lexington Road and Cherokee Gardens)
• 40207 (St. Matthews, Indian Hills, Rolling Fields) 
• 40222 (Crossgate, Glenview Manor, Glenview Hills, Northfield and Graymoor/Devondale)
• As well as the top total sales volume of properties that sold for $1 million or more for the entire Louisville market

Since our agents know and work these areas so effectively, we thought we’d share some insights into market dynamics in these 5 zip codes as well as the Louisville luxury market. As a reminder, a market's absorption rate measures the rate at which available homes are sold during a given time period. Generally, an absorption rate of 6.0 months inventory indicates a balanced market of supply and demand. As you can see from the tables below much of Louisville is experiencing a severe shortage of inventory (absorption rates of around 2 to 2.5). Because of the lack of inventory much of Louisville is in the midst of a very heated seller's market.

40204

40205

 40206

40207

40222

$1 Million+ Home Sales (January – June 2016)

In the luxury category Kentucky Select ended the first half of the year with a market leading 11 sales or a 33% share of homes or condos that sold for $1 million or more. This compares to 8 million-dollar-plus sales for the same time period in 2015.