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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

January – June 2016

January – June 2015

% Change

Avg. List Price - $277,490

$267,967

3.55%

Avg. Sale Price - $215,559

$236,389

-8.81%

Avg. Days on Market - 58

73

-20.55%

Absorption Rate – 2.55

3.2

-20.31%

40205

January – June 2016

January – June 2015

% Change

Avg. List Price - $338,161

$322,213

4.95%

Avg. Sale Price - $294,463

$269,583

9.23%

Avg. Days on Market - 54

53

1.89%

Absorption Rate – 2.05

2.35

-12.77%

 40206

January – June 2016

January – June 2015

% Change

Avg. List Price - $261,731

$251,749

3.97%

Avg. Sale Price - $199,673

$209,904

-4.87%

Avg. Days on Market - 73

87

-16.09

Absorption Rate – 2.02

3.72

-45.70%

40207

January – June 2016

January – June 2015

% Change

Avg. List Price - $397,041

$372,221

6.67%

Avg. Sale Price - $297,717

$312,864

-4.84%

Avg. Days on Market - 69

70

-1.43%

Absorption Rate – 2.33

3.18

-26.73%

40222

January – June 2016

January – June 2015

% Change

Avg. List Price - $366,974

$313,870

16.92%

Avg. Sale Price - $274,818

$237,707

15.61%

Avg. Days on Market - 69

73

-5.48%

Absorption Rate – 2.09

3.66

-42.90%

 

$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.

Million Dollar Market Share

 

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