Living in Louisville BlogRecently posted or modified blog postshttps://www.kyselectproperties.com/blog/Copyright KYSelectProperties.com2024-03-06T12:07:08-07:00tag:kyselectproperties.com,2012-09-20:22248Global Networking Award<img src="https://assets.site-static.com/userfiles/299/image/Global-networking-award-john.jpg" width="250" height="375" alt="Global Networking Award 2024" class="img_box_left" style="float: left; margin-left: 0px; margin-right: 30px;" />
Who’s Who in Luxury Real Estate (LRE®) held the 16th Annual Luxury Real Estate International Symposium on the 16th through 18th of January at the Hotel Martinez in Cannes, France. Prestigious brokers from across the globe gathered to share knowledge, experiences, connect with fellow members, and to honor the best in the industry.
The Global Networking Award was given to Who’s Who in Luxury Real Estate members in recognition of their persistent dedication to the global luxury real estate industry.
John Stough, co-founder of Kentucky Select Properties and principal broker, was an honored recipient.<br /><br />About LuxuryRealEstate.com
A worldwide collection of top brokers representing the finest luxury properties across the globe, Who’s Who in Luxury Real Estate has been leading the real estate industry since 1986. This hand-selected group of more than 130,000 professionals with properties in more than 70 countries collectively sells over $300 billion of real estate annually, making it the most elite and comprehensive luxury real estate network in the world.
Who’s Who in Luxury Real Estate’s global network is showcased on LuxuryRealEstate.com, the No.1 portal for luxury properties online, presenting more multi-million-dollar estates than any near-peer. Frequently distinguished as a leader in the industry, the company has been recognized by Forbes, the Inc. 5000 List and The Wall Street Journal. In addition, they have been honored multiple times by The Webby Awards, ADDY Awards and the Web Marketing Association. 2024-01-20T06:00:00-07:002024-03-06T12:07:08-07:00Chelsea Collardtag:kyselectproperties.com,2012-09-20:21118July 2023
JULY
Louisville Real Estate Report
Home sales in Greater Louisville declined in June while sale prices were up compared to a year ago. Total sales decreased 21.8% from 1761 in June 2022 to 1378 in June 2023. The average home sale price was $334,367, up 7.7% from $310,573 in June 2022.
<br /><br />
JUNE REVIEW<br />Homes Sold<br />2023 | 1,378
2022 | 1,761
<img src="https://assets.site-static.com/userfiles/299/image/49-web-or-mls-8906_Middle_Point_Rd-49.jpg" width="372" height="248" />
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JUNE REVIEW<br />Average Sales Price
2023 | $334,367
2022 | $310,573
<img src="https://assets.site-static.com/userfiles/299/image/3307Crosspointeroadmls-09.jpg" width="567" height="378" />
up
JUNE REVIEW<br />Average DOM<br />Days on Market
2023 | 24
2022 | 16
<img src="https://assets.site-static.com/userfiles/299/image/026_-_20221025-708615.jpg" width="363" height="242" />
up
JUNE REVIEW<br />New Listings
2023 | 1,921
2022 | 2,481
<img src="https://assets.site-static.com/userfiles/299/image/39-web-or-mls-8906_Middle_Point_Rd-39.jpg" width="400" height="267" />
up
<br /><br />
WHAT YOU GET IN LOUISVILLE
$500,000 - $590,000
A look at how much house you get for your money in three different zip codes
2023-07-05T05:30:00-07:002023-07-07T10:56:45-07:00Chelsea Collardtag:kyselectproperties.com,2012-09-20:21034June 2023
JUNE
Louisville Real Estate Report
Home sales in Greater Louisville declined in May while sale prices were up compared to a year ago. Total sales decreased 16.5% from 1618 in May 2022 to 1351 in May 2023. The average home sale price was $310,787, up 4.6% from $297,223 in May 2022.
<br /><br />
MAY REVIEW<br />Homes Sold<br />2023 | 1,351
2022 | 1,618
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/TF%20-%20JO%20-%20Wolf%20Pen%20Branch%20(2%20of%2049).jpg" width="372" height="248" />
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MAY REVIEW<br />Average Sales Price
2023 | $310,787
2022 | $297,223
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/_DSC1817_19_20.jpg" width="567" height="378" />
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MAY REVIEW<br />Average DOM<br />Days on Market
2023 | 28
2022 | 17
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/52-2809%20Mockingbird%20Ct-Kitchen.jpg" width="363" height="242" />
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MAY REVIEW<br />New Listings
2023 | 1,665
2022 | 2,119
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/TF%20-%20JO%20-%20Wolf%20Pen%20Branch%20(30%20of%2049).jpg" width="400" height="267" />
up
<br /><br />
WHAT YOU GET IN LOUISVILLE
$825,000 - $925,000
A look at how much house you get for your money in three different zip codes
2023-06-05T08:15:00-07:002023-06-13T12:46:25-07:00Chelsea Collardtag:kyselectproperties.com,2012-09-20:20687May 2023
MAY
Louisville Real Estate Report
Home sales in Greater Louisville declined in April while sale prices were up compared to a year ago. Total sales decreased 33.6% from 1618 in April 2022 to 1075 in April 2023. The average home sale price was $304,168, up 2.2% from $297,656 in April 2022.
<br /><br />
APRIL REVIEW<br />Homes Sold<br />2023 | 1,075
2022 | 1,618
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/2236%20Sycamore%20Ave-13.jpg" width="400" height="267" />
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APRIL REVIEW<br />Average Sales Price
2023 | $304,168
2022 | $297,656
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/2236%20Sycamore%20Ave-31.jpg" width="400" height="267" />
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APRIL REVIEW<br />Average DOM<br />Days on Market
2023 | 30
2022 | 18
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/TF%20-%20JS%20-%20Inverness%20%20(5%20of%2037).jpg" width="400" height="267" />
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APRIL REVIEW<br />New Listings
2023 | 1,549
2022 | 1,983
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/2236%20Sycamore%20Ave-26.jpg" width="400" height="267" />
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<br /><br />
WHAT YOU GET IN LOUISVILLE
$520,000 - $570,000
A look at how much house you get for your money in three different zip codes
2023-05-03T08:15:00-07:002023-06-13T12:52:15-07:00Chelsea Collardtag:kyselectproperties.com,2012-09-20:21033April 2023
APRIL
Louisville Real Estate Report
Home sales in Greater Louisville declined in March while sale prices were up compared to a year ago. Total sales decreased 21.2% from 1561 in March 2022 to 1230 in March 2023. The average home sale price was $296,214, up 5.9% from $279,829 in March 2022.
<br /><br />
MARCH REVIEW<br />Homes Sold<br />2023 | 1,230
2022 | 1,561
<img src="https://assets.site-static.com/userfiles/299/image/11000_Craigs_Creek_Pl_Louisville_KY_40241-5-of-60.jpg" width="400" height="225" />
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MARCH REVIEW<br />Average Sales Price
2023 | $296,214
2022 | $279,829
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/123df95c-bf66-49be-9d2a-51bf71153d76.jpg" width="250" height="250" />
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MARCH REVIEW<br />Average DOM<br />Days on Market
2023 | 38
2022 | 24
<img src="https://assets.site-static.com/userfiles/299/image/11000_Craigs_Creek_Pl_Louisville_KY_40241-26-of-60.jpg" width="400" height="225" />
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MARCH REVIEW<br />New Listings
2023 | 1,576
2022 | 2,037
<img src="https://assets.site-static.com/userfiles/299/image/TF_-_SG_-_Broecker_14_of_33.jpg" width="400" height="267" />
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<br /><br />
WHAT YOU GET IN LOUISVILLE
$400,000 - $450,000
A look at how much house you get for your money in three different zip codes
2023-04-03T08:00:00-07:002023-06-13T13:02:07-07:00Chelsea Collardtag:kyselectproperties.com,2012-09-20:21032March 2023
MARCH
Louisville Real Estate Report
Home sales in Greater Louisville declined in February while sale prices were up compared to a year ago. Total sales decreased 26.2% from 1172 in February 2022 to 865 in February 2023. The average home sale price was $287,664, up 2.2% from $281,613 in February 2022.
<br /><br />
FEBRUARY REVIEW<br />Homes Sold<br />2023 | 865
2022 | 1,172
<img src="https://assets.site-static.com/userfiles/299/image/910french-3.jpg" width="600" height="400" />
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FEBRUARY REVIEW<br />Average Sales Price
2023 | $287,664
2022 | $281,613
<img src="https://assets.site-static.com/userfiles/299/image/633camp2.jpg" width="600" height="400" />
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FEBRUARY REVIEW<br />Average DOM<br />Days on Market
2023 | 39
2022 | 31
<img src="https://assets.site-static.com/userfiles/299/image/443hillcrest-2.jpg" width="600" height="462" />
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FEBRUARY REVIEW<br />New Listings
2023 | 1,5291
2022 | 1,432
<img src="https://assets.site-static.com/userfiles/299/image/910french-2.jpg" width="600" height="400" />
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<br /><br />
WHAT YOU GET IN LOUISVILLE
$250,000 - $300,000
A look at how much house you get for your money in three different zip codes
2023-03-03T11:18:00-07:002023-06-13T13:12:51-07:00Chelsea Collardtag:kyselectproperties.com,2012-09-20:20686February 2023
FEBRUARY
Louisville Real Estate Report
Home sales in Greater Louisville declined in January while sale prices were up compared to a year ago. Total sales decreased 30.5% from 1123 in January 2022 to 781 in January 2023. The average home sale price was $273,792, up only .28% from $273,025 in January 2022.
<br /><br />
JANUARY REVIEW<br />Homes Sold<br />2023 | 781
2022 | 1,123
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/73e80930-6501-4b7b-b11d-fc967eeed6f8.jpg" />
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JANUARY REVIEW<br />Average Sales Price
2023 | $273,792
2022 | $273,025
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/ed2350e6-c74d-4354-bf48-3d30ba18fa55.jpg" />
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JANUARY REVIEW<br />Average DOM<br />Days on Market
2023 | 41
2022 | 26
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/6d10f7e1-0089-43f7-af7e-68754019d985.jpg" />
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JANUARY REVIEW<br />New Listings
2023 | 1,362
2022 | 1,343
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/716563f3-7289-49da-865b-799ee2d850c9.jpg" />
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<br /><br />
WHAT YOU GET IN LOUISVILLE
$600,000 - $700,000
A look at how much house you get for your money in three different zip codes
2023-02-03T11:34:00-07:002023-06-09T12:25:04-07:00Chelsea Collardtag:kyselectproperties.com,2012-09-20:20405December 2022 | Louisville Real Estate
Home sales in Jefferson County declined in November while sale prices were up compared to a year ago. Total existing-home sales decreased 29.7% from 937 in November 2021 to only 659 in November 2022. The average home sale price was $291,239, up 2.1% from $285,189 in November 2021.
96
<a href="https://app.rezora.com/redirect_linktrack.php?newsletter_id=10032550&user_id=44718&pid=&liid=&tid=&rz_post_id=&contact_id=90954479&ts=1672153567&t=f8b7e65e1e6092ce9465a6be4222c659&r=https%3A%2F%2Fpixel.sitescout.com%2Fiap%2F1885d2954422a3a9%3Fr%3Dhttp%3A%2F%2Fwww.kyselectproperties.com" target="_blank" style="outline: none;" tabindex="-1"><img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/678b4e0d-b1f2-4e35-aa26-ae9b185cf81c.png" style="display: block; height: auto; border: 0; width: 226px; max-width: 100%;" width="226" alt="KSP" title="KSP" /></a>
DECEMBER
<a href="https://app.rezora.com/redirect_linktrack.php?newsletter_id=10032550&user_id=44718&pid=&liid=&tid=&rz_post_id=&contact_id=90954479&ts=1672153567&t=f8b7e65e1e6092ce9465a6be4222c659&r=https%3A%2F%2Fpixel.sitescout.com%2Fiap%2F1885d2954422a3a9%3Fr%3Dhttp%3A%2F%2Fwww.kyselectproperties.com" target="_blank" style="outline: none;" tabindex="-1"><img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/678b4e0d-b1f2-4e35-aa26-ae9b185cf81c.png" style="display: block; height: auto; border: 0; width: 171px; max-width: 100%;" width="171" alt="KSP" title="KSP" /></a>
DECEMBER
<img class="big" src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/Dec2022-header.png" style="display: block; height: auto; border: 0; width: 640px; max-width: 100%;" width="640" alt="December" title="December" />
NOVEMBER VS NOVEMBER 2021
2.1%
AVERAGE
SALES PRICE
2022 $291,239
vs 2021 $285,189
-29.7%
HOMES SOLD
2022 659
vs 2021 937
3.8%
AVERAGE
DAYS ON MARKET
2022 27
vs 2021 26
-22.4%
NEW LISTINGS
2022 760
vs 2021 980
Home sales in Jefferson County declined in November while sale prices were up compared to a year ago. Total existing-home sales decreased 29.7% from 937 in November 2021 to only 659 in November 2022. The average home sale price was $291,239, up 2.1% from $285,189 in November 2021.
Source: GLAR, Single Family Residential in Jefferson County.
WHAT YOU GET IN LOUISVILLE
A look at how much (or little) house you get for your money in three different Louisville zip codes
$1 MILLION+
$1 MILLION+
40059
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/December2022-1.png" style="display: block; height: auto; border: 0; width: 193px; max-width: 100%;" width="193" alt="Home 1" title="Home 1" />
2629 MAYO LANE
BEDROOMS 4
BATHROOMS 3.5
SQUARE FEET 5,166
SOLD FOR $1,060,000
PPSF $316.13
40207
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/December2022-2.png" style="display: block; height: auto; border: 0; width: 193px; max-width: 100%;" width="193" alt="Home 2" title="Home 2" />
214 MOCKINGBIRD GARDENS DR
BEDROOMS 5
BATHROOMS 5 full + 2 half
SQUARE FEET 9,136
SOLD FOR $2,172,000
PPSF $371.54
40206
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/December2022-3.png" style="display: block; height: auto; border: 0; width: 193px; max-width: 100%;" width="193" alt="Home 3" title="Home 3" />
550 FAIRFIELD DRIVE
BEDROOMS 7
BATHROOMS 6 full + 2 half
SQUARE FEET 7,045
SOLD FOR $2,460,150
PPSF $388.34
<br />
<img src="https://pixel.sitescout.com/iap/1885d2954422a3a9" width="0" height="0" style="display: none !important; visibility: hidden !important; opacity: 0 !important; background-position: 1px 1px;" />
2022-12-23T06:00:00-07:002023-03-23T11:17:45-07:00Chelsea Collardtag:kyselectproperties.com,2012-09-20:20317November 2022 | Louisville Real Estate
Home sales in Jefferson County declined in October while sale prices were up compared to a year ago. Total existing-home sales decreased 25% from 1052 in October 2021 to only 789 in October 2022. The average home sale price was $309,699, up 8.1% from $286,525 in October 2021.
96
<a href="https://app.rezora.com/redirect_linktrack.php?newsletter_id=10009385&user_id=44718&pid=&liid=&tid=&rz_post_id=&contact_id=90954479&ts=1669666757&t=d3bf1c68e2dcc66d35884c598c719e43&r=https%3A%2F%2Fpixel.sitescout.com%2Fiap%2F1885d2954422a3a9%3Fr%3Dhttp%3A%2F%2Fwww.kyselectproperties.com" target="_blank" style="outline: none;" tabindex="-1"><img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/678b4e0d-b1f2-4e35-aa26-ae9b185cf81c.png" style="display: block; height: auto; border: 0; width: 226px; max-width: 100%;" width="226" alt="KSP" title="KSP" /></a>
NOVEMBER
<a href="https://app.rezora.com/redirect_linktrack.php?newsletter_id=10009385&user_id=44718&pid=&liid=&tid=&rz_post_id=&contact_id=90954479&ts=1669666757&t=d3bf1c68e2dcc66d35884c598c719e43&r=https%3A%2F%2Fpixel.sitescout.com%2Fiap%2F1885d2954422a3a9%3Fr%3Dhttp%3A%2F%2Fwww.kyselectproperties.com" target="_blank" style="outline: none;" tabindex="-1"><img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/678b4e0d-b1f2-4e35-aa26-ae9b185cf81c.png" style="display: block; height: auto; border: 0; width: 171px; max-width: 100%;" width="171" alt="KSP" title="KSP" /></a>
NOVEMBER
<img class="big" src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/Nov2022-header.png" style="display: block; height: auto; border: 0; width: 640px; max-width: 100%;" width="640" alt="November" title="November" />
OCTOBER VS OCTOBER 2021
8.1%
AVERAGE
SALES PRICE
2022 $309,699
vs 2021 $286,525
-25%
HOMES SOLD
2022 789
vs 2021 1,052
20.8%
AVERAGE
DAYS ON MARKET
2022 29
vs 2021 24
-20.4%
NEW LISTINGS
2022 957
vs 2021 1,202
Home sales in Jefferson County declined in October while sale prices were up compared to a year ago. Total existing-home sales decreased 25% from 1052 in October 2021 to only 789 in October 2022. The average home sale price was $309,699, up 8.1% from $286,525 in October 2021.
Source: GLAR, Single Family Residential in Jefferson County.
WHAT YOU GET IN LOUISVILLE
A look at how much (or little) house you get for your money in three different Louisville zip codes
$300,000 - $400,000
$300,000 - $400,000
40205
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/fbdab98d-bd74-4f1d-a47c-ca49cc616d69.png" style="display: block; height: auto; border: 0; width: 193px; max-width: 100%;" width="193" alt="Home 1" title="Home 1" />
2363 SARATOGA DRIVE
BEDROOMS 3
BATHROOMS 2
SQUARE FEET 1,403
SOLD FOR $339,400
PPSF $241.91
40031
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/9e00a650-0451-4e3c-bfef-536598e326ad.png" style="display: block; height: auto; border: 0; width: 193px; max-width: 100%;" width="193" alt="Home 2" title="Home 2" />
1011 HARDIN HOLLY
BEDROOMS 4
BATHROOMS 2.5
SQUARE FEET 2,269
SOLD FOR $380,000
PPSF $167.47
40206
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/f61807c3-f92f-4bb9-8c97-156a7b482271.png" style="display: block; height: auto; border: 0; width: 193px; max-width: 100%;" width="193" alt="Home 3" title="Home 3" />
201 N BIRCHWOOD AVENUE
BEDROOMS 3
BATHROOMS 2.5
SQUARE FEET 1,724
SOLD FOR $400,000
PPSF $269.91
<img src="https://pixel.sitescout.com/iap/1885d2954422a3a9" width="0" height="0" style="display: none !important; visibility: hidden !important; opacity: 0 !important; background-position: 1px 1px;" />
2022-11-28T13:00:00-07:002022-11-28T13:33:13-07:00Chelsea Collardtag:kyselectproperties.com,2012-09-20:20218October 2022 | Louisville Real Estate
Home sales in Jefferson County declined in September while prices were also down compared to a year ago. Total existing-home sales decreased 21.4% from 1082 in September 2021 to only 850 in September 2022. The average home sale price was $295,170, down slightly .4% from $296,335 in September 2021.
96
<a href="https://app.rezora.com/redirect_linktrack.php?newsletter_id=9774714&user_id=44718&pid=&liid=&tid=&rz_post_id=&contact_id=90954479&ts=1666811363&t=569422bcc98ad118f8bd7f7dace5895c&r=https%3A%2F%2Fpixel.sitescout.com%2Fiap%2F1885d2954422a3a9%3Fr%3Dhttp%3A%2F%2Fwww.kyselectproperties.com" target="_blank" style="outline: none;" tabindex="-1"><img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/678b4e0d-b1f2-4e35-aa26-ae9b185cf81c.png" style="display: block; height: auto; border: 0; width: 226px; max-width: 100%;" width="226" alt="KSP" title="KSP" /></a>
OCTOBER
<a href="https://app.rezora.com/redirect_linktrack.php?newsletter_id=9774714&user_id=44718&pid=&liid=&tid=&rz_post_id=&contact_id=90954479&ts=1666811363&t=569422bcc98ad118f8bd7f7dace5895c&r=https%3A%2F%2Fpixel.sitescout.com%2Fiap%2F1885d2954422a3a9%3Fr%3Dhttp%3A%2F%2Fwww.kyselectproperties.com" target="_blank" style="outline: none;" tabindex="-1"><img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/678b4e0d-b1f2-4e35-aa26-ae9b185cf81c.png" style="display: block; height: auto; border: 0; width: 171px; max-width: 100%;" width="171" alt="KSP" title="KSP" /></a>
OCTOBER
<img class="big" src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/Oct2022-header.png" style="display: block; height: auto; border: 0; width: 640px; max-width: 100%;" width="640" alt="October" title="October" />
SEPTEMBER VS SEPTEMBER 2021
-0.4%
AVERAGE
SALES PRICE
2022 $295,170
vs 2021 $296,335
-21.4%
HOMES SOLD
2022 850
vs 2021 1,082
31.6%
AVERAGE
DAYS ON MARKET
2022 25
vs 2021 19
-18.1%
NEW LISTINGS
2022 1,058
vs 2021 1,292
Home sales in Jefferson County declined in September while prices were also down compared to a year ago. Total existing-home sales decreased 21.4% from 1082 in September 2021 to only 850 in September 2022. The average home sale price was $295,170, down slightly .4% from $296,335 in September 2021.
Source: GLAR, Single Family Residential in Jefferson County.
WHAT YOU GET IN LOUISVILLE
A look at how much (or little) house you get for your money in three different Louisville zip codes
$575,000 - $610,000
$575,000 - $610,000
40059
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/Oct2022-1.png" style="display: block; height: auto; border: 0; width: 193px; max-width: 100%;" width="193" alt="Home 1" title="Home 1" />
7015 BREAKWATER PLACE
BEDROOMS 4
BATHROOMS 3 full + 2 half
SQUARE FEET 3,885
SOLD FOR $575,000
PPSF $148.01
40207
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/Oct2022-2.png" style="display: block; height: auto; border: 0; width: 193px; max-width: 100%;" width="193" alt="Home 2" title="Home 2" />
708 GREENRIDGE LANE
BEDROOMS 3
BATHROOMS 2.5
SQUARE FEET 2,181
SOLD FOR $582,000
PPSF $266.85
40206
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/Oct2022-3.png" style="display: block; height: auto; border: 0; width: 193px; max-width: 100%;" width="193" alt="Home 3" title="Home 3" />
3305 LEXINGTON ROAD
BEDROOMS 4
BATHROOMS 4.5
SQUARE FEET 2,138
SOLD FOR $610,000
PPSF $285.31
<br />
<img src="https://pixel.sitescout.com/iap/1885d2954422a3a9" width="0" height="0" style="display: none !important; visibility: hidden !important; opacity: 0 !important; background-position: 1px 1px;" />
2022-10-25T12:29:00-07:002022-11-28T13:31:21-07:00Chelsea Collardtag:kyselectproperties.com,2012-09-20:20139Pop-up Beer Gardens (October 2022)LOUISVILLE, KY – October 4, 2022 – Enjoy the various shades of autumn and head to Tyler Park this Friday, October 7 for the annual Pop-up Beer Gardens event hosted by Olmsted Parks Conservancy and sponsored by Kentucky Select Properties. This is the first of three events featuring fresh beer from West Sixth Brewing, music, food trucks, and lawn games. Beer Gardens are designed to activate the parks, share updates on capital improvements and bring the community together. Resources and activities will be provided onsite by local organizations.
Guests are encouraged to bring a chair and enjoy music and great company. There will be food and beverages available to purchase at each event.
“Kentucky Select real estate agents are in the business of highlighting what makes Louisville such a great place to call home. Our park system – and our 17 Olmsted Parks in particular – are incredibly important to the quality of life for all Louisvillians,” said Kentucky Select Managing Broker Jay Gulick. “That’s why we’ve supported the mission of the Olmsted Parks Conservancy for many years and love participating in events like the Pop-Up Beer Gardens for the sense of community they create.”
Additional dates and locations for the Pop-Up Beer Gardens:
• October 14, 5 pm: Seneca Park
• October 21, 5 pm: Shelby Park
“Last year’s event at Seneca Park brought together a nice group to enjoy the park and the special activities, and to learn about Olmsted’s work in the community,” said Ninth District Councilmember Bill Hollander. “I’m looking forward to another great day of community building.” <br /><br /> Olmsted Parks Conservancy’s mission is to restore, enhance and forever protect Louisville’s Olmsted-designed parks and parkways, connecting nature and neighborhood while strengthening the community’s well-being. Keenly focused on our vision—that all seventeen parks and six parkways are extraordinary, in every way, for everyone—we deepen connections between neighbors and the parks through hands-on volunteer projects, Friends of Olmsted Parks neighborhood groups and community programming.
###
About Olmsted Parks Conservancy Louisville Olmsted Parks Conservancy, Inc., a non-profit organization, was established in 1989 to restore, enhance and forever protect Louisville’s historic 17 Olmsted Parks and 6 Parkways. Working as a non-profit partner with Louisville Parks and Recreation, the Conservancy provides planning and funding for park improvements and natural areas management through donations from individuals, foundations, and corporations. In 2019, Olmsted Parks Conservancy celebrated our 30th year connecting nature and neighborhood and overseeing $40 million in investment in our Olmsted Parks. olmstedparks.org
About Kentucky Select Properties Kentucky Select is a brokerage run by and for real estate agents dedicated to raising the bar in their profession. The company's local market experts have an average of more than 15 years of experience in real estate sales. The tag line, Trusted Direction in Real Estate, means simply that Kentucky Select clients should expect professional and ethical representation, discretion, extraordinary service, and a knowledgeable guide to navigating the buying and selling process. kyselectproperties.com2022-10-06T05:00:00-07:002022-10-06T08:35:04-07:00Chelsea Collardtag:kyselectproperties.com,2012-09-20:20217September 2022 | Louisville Real Estate
Home sales in Jefferson County declined in August while prices continued to increase. Total existing-home sales decreased 14.2% from 1095 in August 2021 to only 939 in August 2022. The average home sale price was $320,318, up 15.5% from $277,392 in August 2021.
96
<a href="https://app.rezora.com/redirect_linktrack.php?newsletter_id=9748731&user_id=44718&pid=&liid=&tid=&rz_post_id=&contact_id=90954479&ts=1666811370&t=7068b1df2b3b6cb0d8d3676a7aa7741d&r=https%3A%2F%2Fpixel.sitescout.com%2Fiap%2F1885d2954422a3a9%3Fr%3Dhttp%3A%2F%2Fwww.kyselectproperties.com" target="_blank" style="outline: none;" tabindex="-1"><img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/678b4e0d-b1f2-4e35-aa26-ae9b185cf81c.png" style="display: block; height: auto; border: 0; width: 226px; max-width: 100%;" width="226" alt="KSP" title="KSP" /></a>
SEPTEMBER
<a href="https://app.rezora.com/redirect_linktrack.php?newsletter_id=9748731&user_id=44718&pid=&liid=&tid=&rz_post_id=&contact_id=90954479&ts=1666811370&t=7068b1df2b3b6cb0d8d3676a7aa7741d&r=https%3A%2F%2Fpixel.sitescout.com%2Fiap%2F1885d2954422a3a9%3Fr%3Dhttp%3A%2F%2Fwww.kyselectproperties.com" target="_blank" style="outline: none;" tabindex="-1"><img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/678b4e0d-b1f2-4e35-aa26-ae9b185cf81c.png" style="display: block; height: auto; border: 0; width: 171px; max-width: 100%;" width="171" alt="KSP" title="KSP" /></a>
SEPTEMBER
<img class="big" src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/Sep2022-header.png" style="display: block; height: auto; border: 0; width: 640px; max-width: 100%;" width="640" alt="September" title="September" />
AUGUST 2022 VS AUGUST 2021
15.5%
AVERAGE
SALES PRICE
2022 $320,318
vs 2021 $277,392
-14.2%
HOMES SOLD
2022 939
vs 2021 1,095
23.5%
AVERAGE
DAYS ON MARKET
2022 21
vs 2021 17
-14.4%
NEW LISTINGS
2022 1,127
vs 2021 1,316
Home sales in Jefferson County declined in August while prices continued to increase. Total existing-home sales decreased 14.2% from 1095 in August 2021 to only 939 in August 2022. The average home sale price was $320,318, up 15.5% from $277,392 in August 2021.
Source: GLAR, Single Family Residential in Jefferson County.
WHAT YOU GET IN LOUISVILLE
A look at how much (or little) house you get for your money in three different Louisville zip codes
$400,000 - $460,000
$400,000 - $460,000
40202
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/Sep2022-1.png" style="display: block; height: auto; border: 0; width: 193px; max-width: 100%;" width="193" alt="Home 1" title="Home 1" />
324 E MAIN STREET, NO. 313
BEDROOMS 3
BATHROOMS 2
SQUARE FEET 1,633
SOLD FOR $390,000
PPSF $238.82
40059
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/Sep2022-2.png" style="display: block; height: auto; border: 0; width: 193px; max-width: 100%;" width="193" alt="Home 2" title="Home 2" />
6911 WYTHE HILL CIRCLE
BEDROOMS 3
BATHROOMS 2
SQUARE FEET 2,282
SOLD FOR $422,000
PPSF $184.93
40207
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/Sep2022-3.png" style="display: block; height: auto; border: 0; width: 193px; max-width: 100%;" width="193" alt="Home 3" title="Home 3" />
302 OREAD ROAD
BEDROOMS 3
BATHROOMS 2
SQUARE FEET 1,609
SOLD FOR $451,000
PPSF $280.30
<br />
<img src="https://pixel.sitescout.com/iap/1885d2954422a3a9" width="0" height="0" style="display: none !important; visibility: hidden !important; opacity: 0 !important; background-position: 1px 1px;" />
2022-09-26T07:00:00-07:002022-11-08T07:10:33-07:00Chelsea Collardtag:kyselectproperties.com,2012-09-20:20216August 2022 | Louisville Real Estate
Home sales in Jefferson County declined in July while prices continued to increase due to demand outpacing supply. Total existing-home sales decreased 18.7% from 1159 in July 2021 to only 942 in July 2022. The average home sale price was $315,174, up 6.2% from $296,839 in July 2021.
96
<a href="https://app.rezora.com/redirect_linktrack.php?newsletter_id=9722970&user_id=&pid=&liid=&tid=&rz_post_id=&contact_id=&ts=1666811617&t=da928b23c0067fd8b20a802b29196cd3&r=https%3A%2F%2Fpixel.sitescout.com%2Fiap%2F1885d2954422a3a9%3Fr%3Dhttp%3A%2F%2Fwww.kyselectproperties.com" target="_blank" style="outline: none;" tabindex="-1"><img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/678b4e0d-b1f2-4e35-aa26-ae9b185cf81c.png" style="display: block; height: auto; border: 0; width: 226px; max-width: 100%;" width="226" alt="KSP" title="KSP" /></a>
AUGUST
<a href="https://app.rezora.com/redirect_linktrack.php?newsletter_id=9722970&user_id=&pid=&liid=&tid=&rz_post_id=&contact_id=&ts=1666811617&t=da928b23c0067fd8b20a802b29196cd3&r=https%3A%2F%2Fpixel.sitescout.com%2Fiap%2F1885d2954422a3a9%3Fr%3Dhttp%3A%2F%2Fwww.kyselectproperties.com" target="_blank" style="outline: none;" tabindex="-1"><img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/678b4e0d-b1f2-4e35-aa26-ae9b185cf81c.png" style="display: block; height: auto; border: 0; width: 171px; max-width: 100%;" width="171" alt="KSP" title="KSP" /></a>
AUGUST
<img class="big" src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/Aug2022-header.png" style="display: block; height: auto; border: 0; width: 640px; max-width: 100%;" width="640" alt="July" title="July" />
JULY 2022 VS JULY 2021
6.2%
AVERAGE
SALES PRICE
2022 $315,174
vs 2021 $296,839
-18.7%
HOMES SOLD
2022 942
vs 2021 1,159
-5.3%
AVERAGE
DAYS ON MARKET
2022 18
vs 2021 19
-15.4%
NEW LISTINGS
2022 1,245
vs 2021 1,471
Home sales in Jefferson County declined in July while prices continued to increase due to demand outpacing supply. Total existing-home sales decreased 18.7% from 1159 in July 2021 to only 942 in July 2022. The average home sale price was $315,174, up 6.2% from $296,839 in July 2021.
Source: GLAR, Single Family Residential in Jefferson County.
WHAT YOU GET IN LOUISVILLE
A look at how much (or little) house you get for your money in three different Louisville zip codes
$1,000,000+
$1,000,000+
40222
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/August2022-1.png" style="display: block; height: auto; border: 0; width: 193px; max-width: 100%;" width="193" alt="Home 1" title="Home 1" />
3400 WOODSIDE ROAD
BEDROOMS 3
BATHROOMS 2.5
SQUARE FEET 2,856
SOLD FOR $1,100,000
PPSF $385.15
40206
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/August2022-12.png" style="display: block; height: auto; border: 0; width: 193px; max-width: 100%;" width="193" alt="Home 2" title="Home 2" />
738 BRAEVIEW ROAD
BEDROOMS 4
BATHROOMS 3.5
SQUARE FEET 3,783
SOLD FOR $1,342,800
PPSF $354.96
40059
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/August2022-13.png" style="display: block; height: auto; border: 0; width: 193px; max-width: 100%;" width="193" alt="Home 3" title="Home 3" />
7224 OLD CLORE LANE
BEDROOMS 4
BATHROOMS 4.5
SQUARE FEET 4,977
SOLD FOR $1,650,000
PPSF $331.53
<br />
<img src="https://pixel.sitescout.com/iap/1885d2954422a3a9" width="0" height="0" style="display: none !important; visibility: hidden !important; opacity: 0 !important; background-position: 1px 1px;" />
2022-08-25T06:30:00-07:002022-10-26T12:30:18-07:00Chelsea Collardtag:kyselectproperties.com,2012-09-20:19890July 2022 | Louisville Real Estate
Home sales in Greater Louisville declined for the sixth consecutive month in June while prices continued to increase due to demand outpacing supply. Total existing-home sales decreased 16.81% from 1951 in June 2021 to 1623 in June 2022. Record demand combined with low supply continues to fuel price growth. The average home sale price was $312,860, up 9.78% from $284,989 in June 2021.
<a href="https://app.rezora.com/redirect_linktrack.php?newsletter_id=9703834&user_id=44718&pid=&liid=&tid=&rz_post_id=&contact_id=90954479&ts=1659031192&t=c0484bb5cbe259986f148bc17028c8ae&r=https%3A%2F%2Fpixel.sitescout.com%2Fiap%2F1885d2954422a3a9%3Fr%3Dhttp%3A%2F%2Fwww.kyselectproperties.com" target="_blank" style="outline: none;" tabindex="-1"><img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/678b4e0d-b1f2-4e35-aa26-ae9b185cf81c.png" style="display: block; height: auto; border: 0; width: 171px; max-width: 100%;" width="171" alt="KSP" title="KSP" /></a>
JULY
<img class="big" src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/Jul2022-header.png" style="display: block; height: auto; border: 0; width: 640px; max-width: 100%;" width="640" alt="July" title="July" />
JUNE 2022 VS JUNE 2021
9.8%
AVERAGE
SALES PRICE
?
2022 $312,860
vs 2021 $284,989
-16.8%
HOMES SOLD
?
2022 1,623
vs 2021 1,951
-5.6%
AVERAGE
DAYS ON MARKET
?
2022 17
vs 2021 18
-5.9%
NEW LISTINGS
?
2022 1,404
vs 2021 1,492
Home sales in Greater Louisville declined for the sixth consecutive month in June while prices continued to increase due to demand outpacing supply. Total existing-home sales decreased 16.81% from 1951 in June 2021 to 1623 in June 2022. Record demand combined with low supply continues to fuel price growth. The average home sale price was $312,860, up 9.78% from $284,989 in June 2021.
Source: GLAR, Single Family Residential & Condo; All Areas; New listings are in Jefferson County only.
?
WHAT YOU GET IN LOUISVILLE
A look at how much (or little) house you get for your money in three different Louisville zip codes
$600,000 - $700,000
$600,000 - $700,000
40222
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/Jul2022_1.png" style="display: block; height: auto; border: 0; width: 193px; max-width: 100%;" width="193" alt="Home 1" title="Home 1" />
8702 CREIGHTON COURT
?
BEDROOMS 4
BATHROOMS 2 full + 2 half
SQUARE FEET 2,782
SOLD FOR $600,000
PPSF $215.67
40222
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/Jul2022_2.png" style="display: block; height: auto; border: 0; width: 193px; max-width: 100%;" width="193" alt="Home 2" title="Home 2" />
9005 HURSTWOOD COURT
?
BEDROOMS 4
BATHROOMS 3.5
SQUARE FEET 2,746
SOLD FOR $625,000
PPSF $227.60
40059
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/Jul2022_3.png" style="display: block; height: auto; border: 0; width: 193px; max-width: 100%;" width="193" alt="Home 3" title="Home 3" />
7410 SHADWELL LANE
?
BEDROOMS 4
BATHROOMS 4.5
SQUARE FEET 3,105
SOLD FOR $670,000
PPSF $215.78
<img src="https://pixel.sitescout.com/iap/1885d2954422a3a9" width="0" height="0" style="display: none !important; visibility: hidden !important; opacity: 0 !important; background-position: 1px 1px;" />
2022-07-27T11:00:00-07:002022-10-26T12:27:30-07:00Chelsea Collardtag:kyselectproperties.com,2012-09-20:19808June 2022 | Louisville Real Estate
Home sales in Greater Louisville declined again in May due to low supply and rising interest rates. Total existing-home sales decreased 13.74% from 1,739 in May 2021 to 1,500 in May 2022. Record demand combined with extremely low supply continues to fuel price increases. The average home sale price was $299,857, up 10.16% from $272,212 in 2021.
<a href="https://app.rezora.com/redirect_linktrack.php?newsletter_id=9680204&user_id=44718&pid=&liid=&tid=&rz_post_id=&contact_id=90954479&ts=1656343463&t=f28fddad6363085f6e3ec1be7ae61488&r=https%3A%2F%2Fpixel.sitescout.com%2Fiap%2F1885d2954422a3a9%3Fr%3Dhttp%3A%2F%2Fwww.kyselectproperties.com" target="_blank" style="outline: none;" tabindex="-1"><img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/678b4e0d-b1f2-4e35-aa26-ae9b185cf81c.png" style="display: block; height: auto; border: 0; width: 171px; max-width: 100%;" width="171" alt="KSP" title="KSP" /></a>
JUNE
<img class="big" src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/Jun2022-header.png" style="display: block; height: auto; border: 0; width: 640px; max-width: 100%;" width="640" alt="June" title="June" />
MAY 2022 VS MAY 2021
10.2%
AVERAGE
SALES PRICE
 
2022 $299,857
vs 2021 $272,212
-13.7%
HOMES SOLD
 
2022 1,500
vs 2021 1,739
-4.3%
AVERAGE
DAYS ON MARKET
 
2022 22
vs 2021 23
9.7%
ACTIVE LISTINGS
 
2022 1,683
vs 2021 1,534
Home sales in Greater Louisville declined again in May due to low supply and rising interest rates. Total existing-home sales decreased 13.74% from 1,739 in May 2021 to 1,500 in May 2022. Record demand combined with extremely low supply continues to fuel price increases. The average home sale price was $299,857, up 10.16% from $272,212 in 2021.
Source: GLAR, Single Family Residential & Condo; All Areas
 
WHAT YOU GET IN LOUISVILLE
A look at how much (or little) house you get for your money in three different Louisville zip codes
$200,000 - $300,000
$200,000 - $300,000
40217
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/June2022-1.png" style="display: block; height: auto; border: 0; width: 193px; max-width: 100%;" width="193" alt="Home 1" title="Home 1" />
539 E BURNETT AVENUE
 
BEDROOMS 2
BATHROOMS 2
SQUARE FEET 1,030
SOLD FOR $205,000
PPSF $1199.03
40214
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/June2022-2.png" style="display: block; height: auto; border: 0; width: 193px; max-width: 100%;" width="193" alt="Home 2" title="Home 2" />
6655 IROQUOIS PARK ROAD
 
BEDROOMS 3
BATHROOMS 2
SQUARE FEET 2,092
SOLD FOR $225,000
PPSF $107.55
40206
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/June2022-3.png" style="display: block; height: auto; border: 0; width: 193px; max-width: 100%;" width="193" alt="Home 3" title="Home 3" />
2525 GEORGE ROGERS CLARK PL
 
BEDROOMS 2
BATHROOMS 2
SQUARE FEET 1,048
SOLD FOR $279,000
PPSF $266.22
<img src="https://pixel.sitescout.com/iap/1885d2954422a3a9" width="0" height="0" style="display: none !important; visibility: hidden !important; opacity: 0 !important; background-position: 1px 1px;" />
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2022-06-27T06:00:00-07:002022-06-27T08:38:43-07:00Chelsea Collardtag:kyselectproperties.com,2012-09-20:19786Jay's interview with Louisville Magazine (June 2022)Home is ___.
March 13, 2020, the day the pandemic forced Louisville into lockdown, was the same day Louisville police killed Breonna Taylor in her own home.
So much about our city has changed since March 2020.
With that in mind, Louisville Magazine is partnering with Louisville Public Media on the next print issue, titled: Home
Managing Broker of Kentucky Select Properties, Jay Gulick, reflects and answers questions on what "Home is" to him. <a href="https://louisville.com/interview/jay-gulick/" title="Jay Gulick">Read more.</a>
2022-06-17T09:10:00-07:002022-06-20T08:21:36-07:00Chelsea Collardtag:kyselectproperties.com,2012-09-20:19694May 2022 | Louisville Real Estate
Consistent with activity nationwide, home sales in Greater Louisville declined for the seventh consecutive month due to persisting low supply and rising interest rates. Total existing-home sales, decreased 15.75% from 1,638 in April 2021 to 1,380 in April 2022. Record demand combined with extremely low supply continues to fuel price increases. The average home sale price was $300,502, up 17.54% from $255,652 in April 2021.
<a href="https://app.rezora.com/redirect_linktrack.php?newsletter_id=9650006&user_id=44718&pid=&liid=&tid=&rz_post_id=&contact_id=90954479&ts=1653053284&t=093616b0f905cad6c773b52a1e75d8d3&r=https%3A%2F%2Fpixel.sitescout.com%2Fiap%2F1885d2954422a3a9%3Fr%3Dhttp%3A%2F%2Fwww.kyselectproperties.com" target="_blank" style="outline: none;" tabindex="-1"><img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/678b4e0d-b1f2-4e35-aa26-ae9b185cf81c.png" style="display: block; height: auto; border: 0; width: 171px; max-width: 100%;" width="171" alt="KSP" title="KSP" /></a>
MAY
<img class="big" src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/May2022-header.png" style="display: block; height: auto; border: 0; width: 640px; max-width: 100%;" width="640" alt="May" title="May" />
APRIL 2022 VS APRIL 2021
17.5%
AVERAGE
SALES PRICE
 
2022 $300,502
vs 2021 $255,652
-15.8%
HOMES SOLD
 
2022 1,380
vs 2021 1,638
-10%
AVERAGE
DAYS ON MARKET
 
2022 18
vs 2021 20
-2.7%
ACTIVE LISTINGS
 
2022 1,497
vs 2021 1,539
Consistent with activity nationwide, home sales in Greater Louisville declined for the seventh consecutive month due to persisting low supply and rising interest rates. Total existing-home sales, decreased 15.75% from 1,638 in April 2021 to 1,380 in April 2022. Record demand combined with extremely low supply continues to fuel price increases. The average home sale price was $300,502, up 17.54% from $255,652 in April 2021.
Source: GLAR, Single Family Residential & Condo; All Areas
 
WHAT YOU GET IN LOUISVILLE
A look at how much (or little) house you get for your money in three different Louisville zip codes
$510,000 - $560,000
$510,000 - $560,000
40299
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/May2022-1.png" style="display: block; height: auto; border: 0; width: 193px; max-width: 100%;" width="193" alt="Home 1" title="Home 1" />
12112 CYPRESS RIDGE DRIVE
 
BEDROOMS 4
BATHROOMS 3
SQUARE FEET 1,868
SOLD FOR $512,000
PPSF $274.09
40206
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/May2022-2.png" style="display: block; height: auto; border: 0; width: 193px; max-width: 100%;" width="193" alt="Home 3" title="Home 3" />
3311 NATCHEZ LANE
 
BEDROOMS 4
BATHROOMS 4
SQUARE FEET 2,445
SOLD FOR $525,000
PPSF $214.72
40207
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/May2022-3.png" style="display: block; height: auto; border: 0; width: 193px; max-width: 100%;" width="193" alt="Home 3" title="Home 3" />
434 CLUB LANE
 
BEDROOMS 3
BATHROOMS 3
SQUARE FEET 2,581
SOLD FOR $554,700
PPSF $214.92
<img src="https://pixel.sitescout.com/iap/1885d2954422a3a9" width="0" height="0" style="display: none !important; visibility: hidden !important; opacity: 0 !important; background-position: 1px 1px;" />
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2022-05-20T06:00:00-07:002022-05-20T06:47:43-07:00Chelsea Collardtag:kyselectproperties.com,2012-09-20:19583April 2022 | Louisville Real Estate
March Stats | Louisville’s home sales declined for the sixth consecutive month due to persisting low supply and rising interest rates. Total existing-home sales, including single-family homes, condominiums, and townhomes, decreased 6.3% from 1,555 in March 2021 to 1,457 in March 2022. Record low inventory continues to drive home price growth. The average home sale price was $281,095, up 11.38% from $252,378. In March, the Greater Louisville market again had under one month (0.79) of supply. A balanced real estate market offers between three and six months of supply.
<a href="https://app.rezora.com/redirect_linktrack.php?newsletter_id=9625736&user_id=44718&pid=&liid=&tid=&rz_post_id=&contact_id=90954479&ts=1650383290&t=f59da6675c5a4f63f9b8c8a6ce6b1703&r=https%3A%2F%2Fpixel.sitescout.com%2Fiap%2F1885d2954422a3a9%3Fr%3Dhttp%3A%2F%2Fwww.kyselectproperties.com" target="_blank" style="outline: none;" tabindex="-1"><img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/678b4e0d-b1f2-4e35-aa26-ae9b185cf81c.png" style="display: block; height: auto; border: 0; width: 171px; max-width: 100%;" width="171" alt="KSP" title="KSP" /></a>
APRIL
<img class="big" src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/April2022-header.png" style="display: block; height: auto; border: 0; width: 640px; max-width: 100%;" width="640" alt="April" title="April" />
MARCH 2022 VS MARCH 2021
11.4%
AVERAGE
SALES PRICE
 
2022 $281,095
vs 2021 $252,378
-6.3%
HOMES SOLD
 
2022 1,457
vs 2021 1,555
-14.3%
AVERAGE
DAYS ON MARKET
 
2022 24
vs 2021 28
-11.4%
ACTIVE LISTINGS
 
2022 1,313
vs 2021 1,482
Louisville’s home sales declined for the sixth consecutive month due to persisting low supply and rising interest rates. Total existing-home sales, including single-family homes, condominiums, and townhomes, decreased 6.3% from 1,555 in March 2021 to 1,457 in March 2022. Record low inventory continues to drive home price growth. The average home sale price was $281,095, up 11.38% from $252,378. In March, the Greater Louisville market again had under one month (0.79) of supply. A balanced real estate market offers between three and six months of supply.
Source: GLAR, Single Family Residential & Condo; All Areas
 
WHAT YOU GET IN LOUISVILLE
A look at how much (or little) house you get for your money in three different Louisville zip codes
$345,000 - $375,000
$345,000 - $375,000
40204
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/Apr2022-1.png" style="display: block; height: auto; border: 0; width: 193px; max-width: 100%;" width="193" alt="Home 1" title="Home 1" />
1527 GODDARD AVENUE
 
BEDROOMS 5
BATHROOMS 2
SQUARE FEET 1,974
SOLD FOR $345,000
PPSF $174.77
40299
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/Apr2022-2.png" style="display: block; height: auto; border: 0; width: 193px; max-width: 100%;" width="193" alt="Home 3" title="Home 3" />
4101 SAMOSET COURT
 
BEDROOMS 4
BATHROOMS 2.5
SQUARE FEET 2,312
SOLD FOR $360,000
PPSF $155.71
40205
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/Apr2022-3.png" style="display: block; height: auto; border: 0; width: 193px; max-width: 100%;" width="193" alt="Home 3" title="Home 3" />
2204 MANCHESTER ROAD
 
BEDROOMS 4
BATHROOMS 3
SQUARE FEET 2,556
SOLD FOR $375,000
PPSF $143.71
<img src="https://pixel.sitescout.com/iap/1885d2954422a3a9" width="0" height="0" style="display: none !important; visibility: hidden !important; opacity: 0 !important; background-position: 1px 1px;" />
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// ]]>2022-04-19T08:55:00-07:002022-04-19T09:04:01-07:00Chelsea Collardtag:kyselectproperties.com,2012-09-20:19482March 2022 | Louisville Real Estate
February Stats | Following a record-breaking sales year in 2021, home sales in Greater Louisville declined for the fifth consecutive month due to extremely low supply and rising interest rates, according to the Greater Louisville Association of Realtors® (GLAR). Total existing-home sales, including single-family homes, condominiums, and townhomes, decreased 9.06% from 1,192 in February 2021 to 1,084 in February 2022. The median home sale price in February was up 12.02%. The average home sale price was $282,755, up 14.95% from $245,978.
<img class="big" src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/Mar2022-header.png" style="display: block; height: auto; border: 0; width: 640px; max-width: 100%;" width="640" alt="January" title="January" />
FEBRUARY 2022 VS FEBRUARY 2021
15%
AVERAGE
SALES PRICE
 
2022 $284,755
vs 2021 $245,978
-9%
HOMES SOLD
 
2022 1,084
vs 2021 1,192
3.3%
AVERAGE
DAYS ON MARKET
 
2022 30
vs 2021 29
-10.5%
ACTIVE LISTINGS
 
2022 1,400
vs 2021 1,565
Following a record-breaking sales year in 2021, home sales in Greater Louisville declined for the fifth consecutive month due to extremely low supply and rising interest rates, according to the Greater Louisville Association of Realtors® (GLAR). Total existing-home sales, including single-family homes, condominiums, and townhomes, decreased 9.06% from 1,192 in February 2021 to 1,084 in February 2022. The median home sale price in February was up 12.02%. The average home sale price was $282,755, up 14.95% from $245,978.
Source: GLAR, Single Family Residential & Condo; All Areas
 
WHAT YOU GET IN LOUISVILLE
A look at how much (or little) house you get for your money in three different Louisville zip codes
$700,000 - $780,000
$700,000 - $780,000
40059
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/Mar2022.png" style="display: block; height: auto; border: 0; width: 193px; max-width: 100%;" width="193" alt="Home 1" title="Home 1" />
12024 CHARLOCK COURT
 
BEDROOMS 4
BATHROOMS 3 full 2 half
SQUARE FEET 3,816
SOLD FOR $710,000
PPSF $186.06
40204
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/Mar20222.png" style="display: block; height: auto; border: 0; width: 193px; max-width: 100%;" width="193" alt="Home 3" title="Home 3" />
1220 SUMMIT AVENUE
 
BEDROOMS 3
BATHROOMS 2
SQUARE FEET 3,959
SOLD FOR $720,000
PPSF $181.86
40207
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/Mar20223.png" style="display: block; height: auto; border: 0; width: 193px; max-width: 100%;" width="193" alt="Home 3" title="Home 3" />
4111 ORMOND ROAD
 
BEDROOMS 5
BATHROOMS 3.5
SQUARE FEET 2,379
SOLD FOR $742,600
PPSF $312.15
<img src="https://pixel.sitescout.com/iap/1885d2954422a3a9" width="0" height="0" style="display: none !important; visibility: hidden !important; opacity: 0 !important; background-position: 1px 1px;" />
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2022-03-21T09:23:00-07:002022-04-19T09:04:05-07:00Chelsea Collardtag:kyselectproperties.com,2012-09-20:19481February 2022 | Louisville Real Estate
January Stats | January 2022 sales volume down 9.4% versus January 2021. 1,084 homes and condos sold last month, versus 1,196 one year ago. The average price was up 7%. For all MLS areas, the inventory of available properties was 17.5% lower than at the same time last year, but homes are staying on the marketing the same average number of days as a year ago.
<a href="https://app.rezora.com/redirect_linktrack.php?newsletter_id=9578372&user_id=44718&pid=&liid=&tid=&rz_post_id=&contact_id=90954479&ts=1648071330&t=ef4a87c82d87731b244da4c79252a5a4&r=https%3A%2F%2Fpixel.sitescout.com%2Fiap%2F1885d2954422a3a9%3Fr%3Dhttp%3A%2F%2Fwww.kyselectproperties.com" target="_blank" style="outline: none;" tabindex="-1"><img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/678b4e0d-b1f2-4e35-aa26-ae9b185cf81c.png" style="display: block; height: auto; border: 0; width: 171px; max-width: 100%;" width="171" alt="KSP" title="KSP" /></a>
FEBRUARY
<img class="big" src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/Feb2022-header.png" style="display: block; height: auto; border: 0; width: 640px; max-width: 100%;" width="640" alt="February" title="February" />
JANUARY 2022 VS JANUARY 2021
7%
AVERAGE
SALES PRICE
 
2022 $268,544
vs 2021 $251,085
-9.4%
HOMES SOLD
 
2022 1,084
vs 2021 1,196
0%
AVERAGE
DAYS ON MARKET
 
2022 28
vs 2021 28
-17.5%
ACTIVE LISTINGS
 
2022 1,618
vs 2021 1,961
January 2022 sales volume down 9.4% versus January 2021. 1,084 homes and condos sold last month, versus 1,196 one year ago. The average price was up 7%. For all MLS areas, the inventory of available properties was 17.5% lower than at the same time last year, but homes are staying on the marketing the same average number of days as a year ago.
Source: GLAR, Single Family Residential & Condo; All Areas
 
WHAT YOU GET IN LOUISVILLE
A look at how much (or little) house you get for your money in three different Louisville zip codes
$420,000 - $460,000
$420,000 - $460,000
40202
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/feb2022.png" style="display: block; height: auto; border: 0; width: 193px; max-width: 100%;" width="193" alt="Home 1" title="Home 1" />
324 E MAIN STREET, NO. 305
 
BEDROOMS 3
BATHROOMS 2
SQUARE FEET 1,633
SOLD FOR $420,000
PPSF $257.20
40299
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/feb20222.png" style="display: block; height: auto; border: 0; width: 193px; max-width: 100%;" width="193" alt="Home 3" title="Home 3" />
3410 STARA COURT
 
BEDROOMS 4
BATHROOMS 2.5
SQUARE FEET 2,465
SOLD FOR $428,000
PPSF $173.63
40206
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/feb20223.png" style="display: block; height: auto; border: 0; width: 193px; max-width: 100%;" width="193" alt="Home 3" title="Home 3" />
543 DOVER ROAD
 
BEDROOMS 3
BATHROOMS 3
SQUARE FEET 1,681
SOLD FOR $456,320
PPSF $271.46
<img src="https://pixel.sitescout.com/iap/1885d2954422a3a9" width="0" height="0" style="display: none !important; visibility: hidden !important; opacity: 0 !important; background-position: 1px 1px;" />
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2022-02-18T12:36:00-07:002022-04-06T07:50:23-07:00Chelsea Collardtag:kyselectproperties.com,2012-09-20:19254January 2022 | Louisville Real Estate
December Stats | Our area is seeing 2021 finish with sales up about 5% and prices up about 9%. We remain firmly in a sellers' market with less than one month of inventory and an average time of the market of just 3 weeks. Many homes are still selling in the first couple of days.
<a href="https://app.rezora.com/redirect_linktrack.php?newsletter_id=9528373&user_id=44718&pid=&liid=&tid=&rz_post_id=&contact_id=90954479&ts=1642632354&t=393232b4eb24fe803fc891e1a5e90130&r=https%3A%2F%2Fpixel.sitescout.com%2Fiap%2F1885d2954422a3a9%3Fr%3Dhttp%3A%2F%2Fwww.kyselectproperties.com" target="_blank" style="outline: none;" tabindex="-1"><img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/678b4e0d-b1f2-4e35-aa26-ae9b185cf81c.png" style="display: block; height: auto; border: 0; width: 171px; max-width: 100%;" width="171" alt="KSP" title="KSP" /></a>
JANUARY
<img class="big" src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/7ad0b2ef-f80f-4e58-82e9-9fd7c843a5e4.png" style="display: block; height: auto; border: 0; width: 640px; max-width: 100%;" width="640" alt="January" title="January" />
DECEMBER 2021 VS DECEMBER 2020
14.1%
AVERAGE
SALES PRICE
 
2021 $284,508
vs 2020 $249,359
-1.7%
HOMES SOLD
 
2021 1,607
vs 2020 1,635
-18.5%
AVERAGE
DAYS ON MARKET
 
2021 22
vs 2020 27
-10.9%
ACTIVE LISTINGS
 
2021 1,950
vs 2020 2,189
Source: GLAR, Single Family Residential & Condo; All Areas
 
WHAT YOU GET IN LOUISVILLE
A look at how much (or little) house you get for your money in three different Louisville zip codes
$800,000 - $900,000
$800,000 - $900,000
40202
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/ab62cbbc-0e73-40f5-a62c-d6802e2583eb.png" style="display: block; height: auto; border: 0; width: 193px; max-width: 100%;" width="193" alt="Home 1" title="Home 1" />
333 E MAIN STREET, NO. 600
 
BEDROOMS 2
BATHROOMS 2.5
SQUARE FEET 2,026
SOLD FOR $800,000
PPSF $394.87
40207
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/67c1531e-5e34-4d53-99c9-b4191b21964f.png" style="display: block; height: auto; border: 0; width: 193px; max-width: 100%;" width="193" alt="Home 2" title="Home 2" />
3733 CANOE LANE
 
BEDROOMS 6
BATHROOMS 5 full + 2 half
SQUARE FEET 3,650
SOLD FOR $825,000
PPSF $226.03
40204
<img src="https://s3-us-west-2.amazonaws.com/rezora-userfiles-filemanager/44508/d8542b1e-fddf-416f-9961-323a8f19fdf2.png" style="display: block; height: auto; border: 0; width: 193px; max-width: 100%;" width="193" alt="Home 3" title="Home 3" />
81 VALLEY ROAD
 
BEDROOMS 5
BATHROOMS 3.5
SQUARE FEET 4,945
SOLD FOR $845,000
PPSF $170.88
<img src="https://pixel.sitescout.com/iap/1885d2954422a3a9" width="0" height="0" style="display: none !important; visibility: hidden !important; opacity: 0 !important; background-position: 1px 1px;" />
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2022-01-19T11:00:00-07:002022-04-06T07:47:42-07:00Chelsea Collardtag:kyselectproperties.com,2012-09-20:19178December 2021 | Louisville Real Estate
<img src="https://assets.site-static.com/userfiles/299/image/KSP-December2021_p4.png" alt="Sep 21 stats " width="700" height="297" />
<img src="https://assets.site-static.com/userfiles/299/image/KSP-December2021_p3.png" alt="500k-600k" width="700" height="385" />2021-12-17T09:00:00-07:002021-12-27T08:10:03-07:00Chelsea Collardtag:kyselectproperties.com,2012-09-20:19177November 2021 | Louisville Real Estate
<img src="https://assets.site-static.com/userfiles/299/image/KSP-November2021_p2.jpg" alt="Sep 21 stats " width="700" height="299" />
<img src="https://assets.site-static.com/userfiles/299/image/KSP-November2021_p3.jpg" alt="750k-800k" width="700" height="385" />2021-11-20T08:00:00-07:002021-12-27T08:09:43-07:00Chelsea Collardtag:kyselectproperties.com,2012-09-20:19005October 2021 | Louisville Real Estate
<img src="https://assets.site-static.com/userfiles/299/image/KSP-October2021_p3.jpg" alt="Sep 21 stats " />
<img src="https://assets.site-static.com/userfiles/299/image/KSP-October2021_p8.jpg" alt="Oct" />
It’s recently been reported that the U.S. Justice Department is investigating the cost of real estate commissions. This is among the topics covered in the September 20th Wall Street Journal article: “<a href="https://www.wsj.com/articles/realtors-face-federal-scrutiny-of-broker-commissions-11632135601" target="_blank">Real Estate Agents Gear Up for Fight to Save Their Commissions</a>”.
What’s often lost in the provocative headlines of these stories are the specifics of how real estate commissions are divided among brokers, the economics of operating a real estate business as a broker and an independent contractor real estate agent, and the value of having professional representation as both a real estate seller and buyer.
Let’s start with the basic economics of real estate commissions and dissect a 6% commission on the sale of a $300,000 home. $18,000 is not an insignificant amount of money. But let’s take a closer look at where that money goes as I think there’s a misconception implicit in these investigations that: 1) real estate agents make too much money 2) they don’t provide much value.
<img src="https://assets.site-static.com/userfiles/299/image/KSP-October2021_p6.jpg" width="700" height="281" />
In most real estate transactions, there are two real estate brokers and agents (one representing the seller and one the buyer). Typically, the brokers split the total commission, so in the 6% example above each broker would receive 3% or $9,000. Remember, for a real estate agent to be paid anything they have to get results for their client (i.e., sell a property for a price and under terms that the client agrees with). In nearly all residential transactions real estate agents assume 100% of the risk of their time and any direct investments they make to help a client sell or buy a property.
Real estate agents are licensed to practice in each state in which they work. They must place their licenses with a broker who ensures agents comply with local, state and federal laws as well as follow ethics guidelines. Most brokers provide office space (and computers, printers, copiers, paper, signs, etc.); administrative and marketing support; ongoing training and development; and cover the cost of management who answer agents questions and help them navigate the inevitable problems and conflicts that arise in complex, often emotional transactions.
Let’s say that to cover the broker’s overhead and profit the cost is 25% of the total commission, or in this example $2,250 of the $9,000. That leaves the real estate agent with $6,750.
Most real estate agents are independent contractors which means they are responsible for paying their own self-employment taxes (Social Security and Medicare), as well as federal, state and local income taxes. Generally, this means an agent can expect to pay about 35 cents of every dollar they make in taxes. In our example, 35% would be $2,362.50 leaving the agent with an income after taxes of $4,387.50. Still not a bad payday, right? Well, as in every business there are expenses associated with generating revenue. Real estate agents need a car to get to appointments and show property and that car likely requires a monthly payment as well as expenses in the form of insurance, gas and maintenance. Agents also have recurring expenses like Board of Realtor dues and Errors & Omissions insurance. Let’s assign these operating expenses a ballpark cost of $1000 a month leaving an agent with $3,387.50.
As a listing agent there are many costs associated with properly marketing a home. Good agents typically have a property measured to generate a floor plan, sometimes have a property staged, have professional photographs and a 3-D tour or videos done, place ads online and in print publications and make sure the property shows up on the Multiple Listing Service (MLS) and on websites like Zillow and Realtor.com. Let’s say this direct investment from the agent is another $1,000 to start (keeping in mind if the property doesn’t sell for 6 months the agent will be expected to continue paying to market it, not to mention spending money on gas to show it and the accruing cost of the agents time).
So, from the original commission of $9,000 the agent is left with $2,387.50. $2,387.50 divided by the purchase price of $300,000 is .008% (a commission of less than 1% to the listing agent).
A similar scenario plays out on the real estate buyer’s agent side of the financial ledger.
One primary criticism about the current 6% total commission model that many sellers pay is that buyer’s agents are overpaid (and unnecessarily increase the price of a property) because with the advent of websites like Zillow consumers are less reliant on buyer’s real estate agents to “find” them properties to purchase. Keep in mind, in a tight market with little inventory (such as most of the country is currently experiencing), a good real estate agent will find houses to show you that are not even on the market yet and it's practically impossible to put a price on that.
Technology can indeed be a wonderful tool and there is no question that real estate consumers have access to much more information than they did a decade ago (including tax assessment data and what other homes in a neighborhood have sold for). Real estate buyers also see beautiful photos and videos (paid for by listing agents) of thousands of properties with a few clicks.
Very few buyers, however, are going to plop down $300,000 for a house they have not visited at least once if not multiple times. Despite the fervent wish of real estate tech leaders, houses are not like a pair of shoes that Zappos will gladly take back and then reimburse you for shipping.
So, yes, you may “find” a house on the Internet but you’re most likely going to want a real estate agent to show it to you and help you navigate the purchase. Some critics of the 6% commission say that buyers should pay their own agents (which I believe is a likely scenario in the next few years). That may be an option for some buyers, but first-time buyers or others on a tight budget will have a hard time coming up with the cash to do so even though they deserve the same level of professional representation as sellers including:
Assessing the list price of the home based on other comparable sales in the neighborhood
Identifying any potential concerns about the property or neighborhood that could negatively impact value (E.g., Is the home made of synthetic stucco which has proven to have significant moisture problems? Is the property in a floodplain and does that require special homeowner’s insurance?)
Preparing an offer and all associated paperwork that helps you get the property under contract (no small feat in a seller’s market that most of the country is currently experiencing where a single home can have as many as 15 offers).
Protecting your interests in the sales contract with well-considered contingencies (such as inspections, appraisals and/or financing).
Serving as a communication buffer between you and the seller.
Navigating any issues that arise as a result of these contingencies (What if the roof needs replacing? What if the property appraises for $20,000 less than you’ve offered?)
Recommending competent, trustworthy vendors such as inspectors, mortgage lenders, contractors, etc.
Coordinating with the title company or closing attorney to ensure that your interests are protected and that the deed correctly transfers the property to you
So, in closing, is a 6% commission too much to pay? What’s lost in most of the examinations of real estate commissions is the VALUE and overall EXPERIENCE the agent provides for that compensation.
I absolutely believe that real estate commissions should be negotiable from an anti-trust standpoint, but they should also be negotiable because there is a huge skill, knowledge and professionalism gap between good and bad agents. In my experience there are many real estate agents who are any combination of unprofessional, uncommunicative, ill-prepared, uneducated, unethical and/or lazy. Do I think those agents deserve 3%? In most cases, no.
On the flip side, there are many real estate agents who are hard-working consummate professionals, treat their clients and other agents with the utmost respect, go above and beyond to earn additional industry credentials and constantly enhance their knowledge and skills, and may have accumulated 20 years of experience and wisdom. Do these outstanding agents deserve the 3% that the bad agents receive? At the very least they do.
I would argue that knowledgeable, professional, ethical, hard-working real estate agents – like those I’m fortunate to work with at Kentucky Select Properties – are worth every penny of that 3%. And that’s one case I’m more than happy to make to the Justice Department.
<img src="https://assets.site-static.com/userfiles/299/image/KSP-October2021_p7.jpg" alt="435k-485k" />
2021-10-18T10:00:00-07:002021-10-18T12:37:42-07:00Chelsea Collardtag:kyselectproperties.com,2012-09-20:189685 Hottest Zip Codes in Louisville Home Sales Over The Summer (Courier-Journal, October 2021)The spring and summer months are traditionally the busiest on the home market, with thousands of buyers searching for a new beginning while schools are out of session. Of course, nothing has been traditional about 2021. But a quick look at home sales in Jefferson County and the greater Louisville area over the course of the past several months can tell you a lot about what buyers have been looking for this year. <a href="https://www.courier-journal.com/story/marketplace/real-estate/2021/10/05/louisville-home-real-estate-hottest-selling-zip-codes-summer-2021/5796280001/">Read more</a>.2021-10-05T05:51:00-07:002021-10-05T05:52:47-07:00Jay Gulicktag:kyselectproperties.com,2012-09-20:18919September 2021 | Louisville Real Estate
<img src="https://assets.site-static.com/userfiles/299/image/KSP-September2021_p3.jpg" width="700" height="299" alt="August 21 stats " />
<img src="https://assets.site-static.com/userfiles/299/image/KSP-September2021_p4.jpg" width="700" height="386" alt="650k-690k" />
2021-09-15T06:00:00-07:002021-09-16T07:12:10-07:00Chelsea Collardtag:kyselectproperties.com,2012-09-20:18841Finally, Something Is Moving In the Right Direction for Fatigued Homebuyers (Courier-Journal, August 2021)LOUISVILLE, Ky. — The "hardest buyer's market" local real estate broker Jay Gulick has ever seen has gotten a little easier in Louisville. But while home inventory numbers in the region are "moving in the right direction," they're still well below where they stood a year ago. “The most recent data – I mean, it’s sort of funny to say this – but the inventory was only down 19% year over year,” said Gulick, of Kentucky Select Properties. “So in July, it’s down 19% over what it was in July 2020. But you have to contrast that with April, when we were 49.7% down from 2020.” <a href="https://www.courier-journal.com/story/marketplace/real-estate/2021/08/25/louisville-home-real-estate-inventory-improving-buyer-fatigue/8208990002/" target="_blank">Read more</a>.2021-08-26T10:55:00-07:002021-09-16T07:18:56-07:00Jay Gulicktag:kyselectproperties.com,2012-09-20:18825August 2021 | Louisville Real Estate
<img src="https://assets.site-static.com/userfiles/299/image/KSP-August2021_p4.jpg" width="700" height="298" alt="July 21 stats " />
<img src="https://assets.site-static.com/userfiles/299/image/KSP-August2021_p3.jpg" width="700" height="388" alt="360k-375k" />
2021-08-19T08:00:00-07:002021-09-16T07:19:28-07:00Chelsea Collardtag:kyselectproperties.com,2012-09-20:18737July 2021 | Louisville Real Estate
<img src="https://assets.site-static.com/userfiles/299/image/KSP-July2021_p2.png" width="700" height="298" alt="June 21 stats " />
<img src="https://assets.site-static.com/userfiles/299/image/KSP-July2021_p3.png" width="700" height="388" alt="800k-830k" />
2021-07-19T10:00:00-07:002021-09-07T07:52:07-07:00Chelsea Collardtag:kyselectproperties.com,2012-09-20:18653June 2021 | Louisville Real Estate
<img src="https://assets.site-static.com/userfiles/299/image/KSP-June2021_p2.jpg" width="700" height="296" alt="May 21 stats " />
<img src="https://assets.site-static.com/userfiles/299/image/KSP-June2021_p3new.jpg" width="700" height="90" alt="June" />
On the Thursday prior to the Memorial Day holiday weekend, I listed a ridiculously cute 3 bedroom, 2 bathroom home in Crescent Hill for $295,000. Over the next three days there were 42 showings of the property. And by Monday when I sat down with my seller clients they had 12 offers to review, all of them for more than the asking price and several significantly so.
Scenes like this are playing out all over Louisville nearly every day as a large number of buyers, armed with historically low mortgage rates, are battling over an anemic number of available houses for sale. I’ve heard chatter from many agents in our office and those in other brokerages that they feel like “everything is overpriced”. I’ve also heard a lot of speculation that at some point there will be a significant market correction leaving us with lots of overpriced homes to sell a few years down the road. Of course, no one knows for certain what the future holds and whether today’s prices reflect a truly overvalued market or are simply establishing a new baseline for real estate prices in Louisville.
Two lucky agents and their clients won the bidding war for my Crescent Hill listing. Which means I had the unenviable task of calling the other 11 agents to thank them for their hard work and let them know their clients did not get the house.
While commiserating on the phone with one of these deflated agents, I blurted out that this was the ‘craziest damn market I’d seen in the 27 years since I’d gotten my real estate license’. The reply from this savvy inquisitive agent, Jenny Ditty Kang, was something along the lines of: “But what if the home prices in Louisville are just catching up to other markets?” Which was a great point and something those of us who are in the weeds of showing properties and writing and responding to multiple offers every week rarely have the perspective or time to consider.
So, I’ve attempted to put Jenny’s supposition to the test by looking at median home sales price data for Louisville for April 2021, one year prior in April 2020 and 5 years prior in April 2016. I then calculated the one and five-year percentage changes. I did the same for the median home sales price nationwide and for sort of similar cities Nashville, Indianapolis and Cincinnati. The results are in the table below.
<img src="https://assets.site-static.com/userfiles/299/image/table-june.png" width="700" height="262" alt="table" />
With a one-year sale price increase of 11.8% and a five-year increase of 44.2% it’s quite apparent that the Louisville real estate market has been on a very good, sustained run of appreciation. Louisville’s median home price is also on par with Cincinnati and higher than Indianapolis but considerably less than the national median sale price of $341,600 or Nashville’s stratospheric $385,000 (up 72.6% in the last five years!)
As long as the broader economy stays healthy and mortgage rates remain low, I expect the Louisville housing market to stay robust. That said, I also think the current rate of double-digit appreciation is unsustainable and that, within a year or two, the rates of appreciation will likely return to the 5-7% annually that has been typical of this market.
<img src="https://assets.site-static.com/userfiles/299/image/KSP-June2021_p4new.jpg" width="700" height="405" alt="400k-500k" />
2021-06-17T14:00:00-07:002021-07-20T11:13:38-07:00Chelsea Collardtag:kyselectproperties.com,2012-09-20:18467May 2021 | Louisville Real Estate
<img src="https://assets.site-static.com/userfiles/299/image/KSP-May2021_p2.jpg" width="700" height="299" alt="Apr 21 stats " />
<img src="https://assets.site-static.com/userfiles/299/image/KSP-May2021_p3.jpg" width="700" height="90" alt="May" />
Throughout the country – including multiple cases reported recently in the Louisville market – fraudulent wire transfer scams are on the rise that victimize real estate buyers, sellers, agents, lenders, title companies and closing attorneys.
According to the FBI, the most prevalent of these scams, the Business E-mail Compromise (BEC)/E-mail Account Compromise (EAC), caused a 136% increase in global exposed dollar loss between 2016-2018 (affecting approximately 19,335 U.S. financial recipients and totaling more than $1.6 billion in losses).
These BEC/EAC scams have been reported in all 50 states and in 150 countries and involve a criminal(s) compromising legitimate business e-mail accounts through social engineering (e.g., scams like phishing which prey on email users to click on malicious IRS, banking or Facebook links) or computer intrusion techniques to conduct unauthorized transfers of funds.
Here’s how the scam typically plays out. Victims often report a “spoofed” email being sent or received on behalf of one of the real estate transaction participants (buyer, seller, agent, lender, title company or closing attorney). This spoofed email has instructions directing the recipient to change the payment type and/or payment location to a fraudulent account (typically a domestic account which quickly disperses these funds through cash or check withdrawals). The funds may also be transferred to a secondary fake domestic or international account. In both cases the criminal(s) often deplete the accounts quickly making recovery difficult.
These scammers have gotten very sophisticated and use the publicly available information of real estate companies, banks and title companies/closing attorneys to duplicate email communications and links that look almost exactly like the real thing. For example, as a real estate buyer you may receive an email from “Main Street Title Company” that looks legitimate requesting wiring instructions from your bank to complete a closing. When you click the link, however, you’ll see that the email address is generic and tied to a provider like Gmail or Yahoo!. Local real estate attorneys Borders & Borders said one scam email address they’ve come across recently is <a href="mailto:titleclosingagent101@gmail.com">titleclosingagent101@gmail.com</a>.
If you are a real estate agent, buyer or seller here are some practical guidelines to help avoid wire fraud scams:
BUYERS<br />
Ideally, Buyers should not wire money to closing attorneys or title companies. Bringing a cashier’s check (payable to the closing agent) to the closing is safer.
If you must wire money to the closing agent, ALWAYS independently verify the phone number of the closing agent (with an internet search) and then call the closing agent to verify the instructions you received are correct.
NEVER call the number provided on the wire instructions. Fraudsters have gotten really good at making emails look legitimate. But a simple call to the closing agent should keep you safe.
SELLERS<br />
Ideally, you shouldn’t ask the closing agent to wire your proceeds. If you must have them wired, provide WRITTEN DIRECTIONS to the closing agent AT THE CLOSING (not in advance) with your account number and routing number.
If you are asking the closing agent to wire your proceeds to another title company or entity, INDEPENDENTLY verify the wire instructions that were given to you. You can do that by independently verifying the phone number of the organization you are having the funds wired to, calling them, and verbally confirming that the wire instructions are accurate.
Do NOT use a phone number provided on the wire instructions.
<img src="https://assets.site-static.com/userfiles/299/image/KSP-May2021_p4.jpg" width="700" height="405" alt="435k-485k" />
2021-05-18T11:00:00-07:002021-06-17T13:47:34-07:00Chelsea Collardtag:kyselectproperties.com,2012-09-20:18349April 2021 | Louisville Real Estate
<img src="https://assets.site-static.com/userfiles/299/image/KSP-April2021_p2.jpg" width="700" height="296" alt="Mar 21 stats " />
<img src="https://assets.site-static.com/userfiles/299/image/KSP-April2021_p4.jpg" width="700" height="84" alt="April" />
SOLID HOME PRICES<br />Low inventory and high demand are getting sellers top-dollar for their home. <br />
FASTER PROCESS<br />Homes are selling quickly, spending an average of 31 days or less on the market.<br />
PENT-UP DEMAND<br />The pandemic delayed the 2020 seasonal buying, and now those who have waited are ready to sell.<br />
LOW INTEREST RATES<br />Financing your next home is affordable and attainable with mortgage rates at historic lows.
<img src="https://assets.site-static.com/userfiles/299/image/KSP-April2021_p3.jpg" width="700" height="403" alt="435k-485k" />
2021-04-19T09:00:00-07:002021-05-20T08:11:15-07:00Chelsea Collardtag:kyselectproperties.com,2012-09-20:18227Kentucky Select Managing Broker Discusses Eleanor Foreman Scholarship on Great Day Live! (WHAS11.com)Kentucky Select Managing Broker Jay Gulick discusses the Eleanor Foreman Scholarship on Great Day Live! The interview includes history about Mrs. Foreman, what the scholarship covers and how to apply. <a href="https://www.whas11.com/video/features/great-day-live/gdl-ky-select-properties-eleanor-foreman-scholarship/417-4f0cabc5-9694-45b7-9f96-5f0a0762c05b" target="_blank">Watch video</a>.2021-03-25T06:58:00-07:002021-04-14T08:48:10-07:00Jay Gulicktag:kyselectproperties.com,2012-09-20:18179March 2021 | Louisville Real Estate
<img src="https://assets.site-static.com/userfiles/299/image/KSP-March2021-7.jpg" width="700" height="295" alt="Feb 21 stats " />
<img src="https://assets.site-static.com/userfiles/299/image/KSP-March2021-3.jpg" width="700" height="92" alt="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. <img src="https://assets.site-static.com/userfiles/299/image/Eleanor-Foreman.jpg" width="200" height="250" alt="Eleanor" style="float: right; padding-left: 20px; padding-top: 10px;" />
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 chance to grow, develop and improve themselves and their communities. Mom’s motto was always ‘Development of the person, development of the community, development of relationships.’ Mom was very active in the community and her enthusiasm was contagious. I can think of no greater honor to her memory than this scholarship.”
Applications accepted now through April 16th. You can learn more about Eleanor’s extraordinary life, as well as find details of the scholarship and an online application at: <a href="http://www.kyselectproperties.com/scholarship" title="Scholarship Information">www.kyselectproperties.com/scholarship</a>
<img src="https://assets.site-static.com/userfiles/299/image/KSP-March2021-6.jpg" width="700" height="402" alt="200k-300k" />
2021-03-16T04:00:00-07:002021-04-20T03:11:07-07:00Chelsea Collardtag:kyselectproperties.com,2012-09-20:18047February 2021 | Louisville Real Estate
<img src="https://assets.site-static.com/userfiles/299/image/KSP-February2021_p2.jpg" width="700" height="298" alt="Jan 21 stats " />
<img src="https://assets.site-static.com/userfiles/299/image/KSP-February2021_p3-2.jpg" width="700" height="96" alt="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 virtually; and from condo owners who are seeking to escape multifamily buildings for single-family houses to mitigate exposure to the virus.
But as I’ve already stated, the demand is not the problem, it’s the supply.
This is a bit of a “perfect storm” seller’s market that we’re experiencing:
Historically low inventory
Historically high demand (particularly in lower price ranges favored by first-time buyers)
Historically low mortgage rates (which is giving buyers more purchasing power and fueling bidding wars)
What this means is that it’s a very challenging and often frustrating time to be a home buyer and a buyer’s real estate agent. When a house actually goes on the market, it’s not unusual for there to be a tornado of showing activity and multiple offers the first day (frequently over the asking price, sometimes for cash – i.e., no mortgage loan – and increasingly waiving normal contingencies and buyer protections like home inspections).
In just the past couple of weeks here is a snapshot of sale scenarios involving Kentucky Select agents:
Home listed in the low $300,000’s - 54 showings and 22 offers | sells well over list price
Home listed in the high $300,000’s - 52 showings and 7 offers | sells well over list price
Home listed in the high $500,000’s - multiple showings and offers | under contract for $100,000 more than list price
Home listed at $175,000 - 35 showings and 14 offers | sells over list price
There is considerable speculation that warmer weather and widespread COVID immunity will hasten the number of houses coming onto the market. The million-dollar question is whether there will be enough supply to meet the record demand by new buyers and free up less expensive inventory for equity-rich sellers who want to downsize to a smaller property (where they will find themselves competing with first-time buyers) or simply cash out and start renting.
Stay tuned, it’s going to be a very interesting year!
by: JAY GULICK Managing Broker + Partner
<img src="https://assets.site-static.com/userfiles/299/image/KSP-February2021_p4.jpg" width="700" height="405" alt="1m-1.25m" />2021-02-15T07:00:00-07:002021-03-18T07:23:36-07:00Chelsea Collardtag:kyselectproperties.com,2012-09-20:17908January 2021 | Louisville Real Estate<img src="https://assets.site-static.com/userfiles/299/image/KSP-January2021_p2v2.jpg" width="700" height="296" alt="Home Sales Trends December 2020 vs 2019" /><img src="https://assets.site-static.com/userfiles/299/image/KSP-January2021-p3-1.jpg" width="700" /> <br /><a href="https://www.fastcompany.com/90564796/zoom-towns-are-exploding-in-the-west" title="Zoom Towns" target="_blank">READ ABOUT ZOOM TOWNS HERE</a><br /> <img src="https://assets.site-static.com/userfiles/299/image/KSP-January2021-p3-3.jpg" width="700" /><img src="https://assets.site-static.com/userfiles/299/image/KSP-January2021_p4v2.jpg" width="700" height="404" alt="What You Get in Louisville for $300,000-$350,000" />2021-01-15T08:00:00-07:002021-02-10T11:04:19-07:00Chelsea Collardtag:kyselectproperties.com,2012-09-20:17787December 2020 Louisville Market OverviewPrepare for the Upcoming Spring Market
<img src="https://assets.site-static.com/userfiles/299/image/KSP-December2020-p2.jpg" width="700" /><img src="https://assets.site-static.com/userfiles/299/image/KSP-December2020-p3-2.jpg" width="700" /><img src="https://assets.site-static.com/userfiles/299/image/KSP-December2020-p4.jpg" width="700" /><img src="https://assets.site-static.com/userfiles/299/image/KSP-December2020-p5.jpg" width="700" />2020-12-14T04:00:00-07:002021-01-06T09:36:23-07:00Chelsea Collardtag:kyselectproperties.com,2012-09-20:17680November 2020 Louisville Market OverviewWhat A Biden/Harris Administration Means For Real Estate + Housing
<img src="https://assets.site-static.com/userfiles/299/image/KSP-November2020_p2.jpg" width="700" /><img src="https://assets.site-static.com/userfiles/299/image/KSP-November2020_p3-2.jpg" width="700" /><img src="https://assets.site-static.com/userfiles/299/image/KSP-November2020_p4.jpg" width="700" />2020-11-16T05:00:00-07:002020-11-18T05:15:56-07:00Chelsea Collardtag:kyselectproperties.com,2012-09-20:17563Kentucky Select Receives Award For 'Best Overall Company Marketing' at 2020 Luxury Real Estate Conference (LuxuryRealEstate.com, October 2020)(Seattle, WA) Who’s Who in Luxury Real Estate recently premiered their <a href="https://www.youtube.com/watch?v=qbWkRmVYKlw&t=5s" target="_blank">2020 LRE® Virtual Awards Celebration</a> on Wednesday, October 15th. The annual LRE® Awards, now in its 13th year, are a prestigious designation of merit and commitment and have long recognized exclusive LRE® members for their success and dedication to the real estate industry. Louisville-based Kentucky Select Properties was recognized as having the "Best Overal Company Marketing" in the entire LRE global network. <a href="https://www2.luxuryrealestate.com/news/press_releases/11169-who-s-who-in-luxury-real-estate-honors-members-with-the-2020-lre-virtual-awards-celebration" target="_blank">Read more</a>.2020-10-21T13:08:00-07:002020-11-09T08:29:46-07:00Jay Gulicktag:kyselectproperties.com,2012-09-20:17559October 2020 Louisville Market OverviewFall-Winter Home Maintenance Checklist
<img src="https://assets.site-static.com/userfiles/299/image/KSP-October2020_p2.jpg" width="700" /><img src="https://assets.site-static.com/userfiles/299/image/KSP-October2020_p3.jpg" width="700" /><img src="https://assets.site-static.com/userfiles/299/image/KSP-October2020_p4.jpg" width="700" />2020-10-16T11:21:00-07:002020-10-19T14:27:24-07:00Chelsea Collardtag:kyselectproperties.com,2012-09-20:17459September 2020 Louisville Market OverviewBest + Worst Home Improvements
<img src="https://assets.site-static.com/userfiles/299/image/KSP-September2020_p2.jpg" width="700" /><img src="https://assets.site-static.com/userfiles/299/image/KSP-September2020_p3.jpg" width="700" /><img src="https://assets.site-static.com/userfiles/299/image/KSP-September2020_p4.jpg" width="700" />2020-09-18T05:30:00-07:002020-12-16T04:21:45-07:00Chelsea Collardtag:kyselectproperties.com,2012-09-20:17383The Best Assisted Living Communities in Louisville (Assisted Living Research Institute)In order to find the top assisted living communities in the Louisville area, our team of researchers sorted through 149 communities using our unique methodology. Our team:
Spent over 30 hours researching assisted living communities in Louisville
Interviewed 15 facility staff members
Read more than 160 reviews left by residents and their family members
After filtering out facilities that didn’t meet our high standards, we were left with 20 assisted living communities that earned our seal of approval. Through this process, we discovered that the <a href="https://www.genworth.com/aging-and-you/finances/cost-of-care.html" target="_blank">average cost of assisted living</a> in the city of Louisville is $4,073, which is considerably higher than the state average of $3,497 and about the same as the national average of $4,051.
For additional information please visit: <a href="https://www.assistedliving.org/kentucky/louisville/" target="_blank">https://www.assistedliving.org/kentucky/louisville/</a>2020-08-27T10:31:00-07:002021-02-19T09:46:23-07:00Jay Gulicktag:kyselectproperties.com,2012-09-20:17379Want to buy a house? Here's what the Louisville market looks like amid coronavirus (Courier-Journal, August 2020)If you're looking to buy a house in the Louisville area, you might have to place bids on more than a dozen different properties before you land one. Louisville has approximately 1,900 homes for sale — one-third of its normal inventory for this time of year. <a href="https://www.courier-journal.com/story/news/local/2020/08/26/louisville-real-estate-low-inventory-drives-prices-amid-covid-19/5604732002/" target="_blank">Read</a> what Kentucky Select agent Logan Ormerod and other local professionals have to say.2020-08-26T11:00:00-07:002020-09-09T07:45:42-07:00Jay Gulicktag:kyselectproperties.com,2012-09-20:17364Kentucky Select Named 'Most Generous Small Company in Louisville' (Business First, August 2020)Louisville Business First is recognizing companies for their philanthropic efforts not only in the community but across the world. They’re investing in the areas of arts and culture, education, the environment and health and human services. These companies were recognized at a virtual event Wednesday, Aug. 19. Kentucky Select Properties was named the most generous business in the small company category. <a href="https://www.bizjournals.com/louisville/news/2020/08/19/partners-in-philanthropy-small-company-category.html" target="_blank">Read more</a>.2020-08-20T11:16:00-07:002020-09-09T07:41:17-07:00Jay Gulicktag:kyselectproperties.com,2012-09-20:17345August 2020 Louisville Market OverviewKeeping Real Estate in Perspective
<img src="https://assets.site-static.com/userfiles/299/image/KSP-August2020_p2.jpg" width="700" /><a href="https://www.kyselectproperties.com/blog/role-of-shelter/" title="View full post" target="_blank"><img src="https://assets.site-static.com/userfiles/299/image/KSP-August2020_p3.jpg" width="700" /></a><img src="https://assets.site-static.com/userfiles/299/image/KSP-August2020_p4.jpg" width="700" />2020-08-17T07:42:00-07:002020-08-18T08:33:51-07:00Chelsea Collardtag:kyselectproperties.com,2012-09-20:17339Louisville Football Coach Scores Big Design Points With Custom Norton Commons Home (Courier-Journal, August 2020)University of Louisville co-defensive coordinator Cort Dennison didn’t buy tickets for the 2017 <a href="https://nortonchildrens.com/foundation/events/home-bmw-raffle/" target="_blank" rel="noopener" data-t-l="|inline|intext|n/a" class="gnt_ar_b_a">Norton Children’s Hospital Home & BMW Raffle</a>, which offers a grand prize of a brand-new house in Norton Commons. Luckily for him, a Prospect woman entered and won — and turned around and sold the turnkey dream home to Dennison. <a href="https://www.courier-journal.com/story/life/home-garden/home-of-the-week/2020/08/13/louisville-football-coach-calls-norton-commons-stunner-home/3317724001/" target="_blank">Read more</a>.2020-08-14T06:43:00-07:002020-08-18T12:04:31-07:00Jay Gulicktag:kyselectproperties.com,2012-09-20:17321The Simple Yet Profound Role of Shelter – Keeping Real Estate in PerspectiveThis is an expanded version of a piece that appears in the recent issue of Louisville Magazine.
The Simple Yet Profound Role of Shelter – Keeping Real Estate in Perspective
- By Jay Gulick, Managing Broker + Partner
One thing is certain if you have a reputation for working in the real estate business: no matter where you go, people ask you to weigh in on the state of the market. The grocery, the gym, cocktail parties, weddings, it doesn’t matter where you are, you invariably get hit with a how, as in how is the real estate market? This is particularly true in times of uncertainty or instability such as the months following the 2008 recession or now during the ever-evolving COVID-19 pandemic.
I’ve always considered it an honor to be asked about the market. One, because it’s nice when people value your opinion about anything. Two, because a person’s home is typically their most valuable financial asset. And three, because even though home ownership represents the largest number on a person or family’s personal balance sheet, it means so much more, especially during times of crisis like we are experiencing now.
Let’s start with what a blessing it is to own a home of your own. In its 2018 Annual Point-In-Time Count, the federal Department of Housing and Urban Development (HUD) reported that 552,830 people in the United States were experiencing homelessness in a single night (33% of whom were families with children). In 2019 the Coalition for the Homeless census identified 6,986 homeless people in Louisville. Because it’s difficult to find and track the homeless population, I suspect the reported numbers are on the low side. The last several months of social distancing and self-quarantining have been difficult even for those of us who have a home in which to take shelter. Imagine trying to follow the example set by Kentucky Governor Andy Beshear to stay “Healthy at Home” if you don’t have a place to call your own.
"As we pause and reexamine all the facets of life that we may have taken for granted in our pre-COVID-19 world, let us focus again on the most fundamental nature of the roof and four walls that surround us."
Which leads to a larger point about the current and future state of the residential real estate market in Louisville and throughout the country as we navigate the effects of COVID-19. With a mercurial stock market and unparalleled levels of unemployment, there is understandably concern too about the health of the housing market. At Kentucky Select Properties our real estate agents were initially seeing less listing and buying activity than they normally would during the beginning of the spring selling season. Unexpected job losses killed a few transactions. Some sellers were more reluctant to let people into their homes. And some buyers, unsure about future job security, were postponing their home searches. Because of social distancing, open houses ground to a halt.
As of early-August, though, the market has picked up considerably and there is quite a bit of activity in this new, sometimes surreal, COVID-19 real estate landscape. Sellers are opening all interior doors and often disinfecting surfaces in between showings. Buyers and their agents are wearing masks and gloves and applying hand sanitizer obsessively. Real estate companies and agents are taking advantage of technology to FaceTime showing appointments, Zoom contract negotiations, utilize virtual property walk-throughs, and sign documents electronically via smartphone or laptop.
The real estate industry may bend for a time, but it will not break. Homes are and always will be inextricably linked to the rhythms and milestones of life – both happy and sad. The birth of a child that necessitates another bedroom or a bigger yard. The death of spouse that renders the maintenance of a property untenable for the one left behind. Real estate agents have proven resilient and reliable over the years because we serve as reassuring and knowledgeable advisors during what are often the most emotional financial transactions of people’s lives. I don’t see that changing.
So, now when people ask me now about the state of the housing market, I have two answers. The first is what people usually expect. We’ve been largely experiencing a seller’s market for the better part of a decade and this was true even before COVID-19. I suspect that higher priced homes will stay on the market a bit longer, and that we may transition to more of a buyer’s market for homes priced at $500,000 and above in the next 6-12 months. Through July of this year the number of homes priced at $500,000+ that have sold is DOWN 1.4% compared to 2019 (286 vs. 290). Interestingly, the sale of homes priced a little cheaper, between $400,000 - $499,999, is UP 24% vs. 2019 (352 vs. 284).
Assuming first-time and younger buyers can maintain employment and that mortgage rates stay within a percentage point of where they are (currently at all-time lows), the sub $250,000 market is going to stay a strong seller’s market and there will continue to be an acute shortage of available inventory.
Overall, the total number of homes sold through July in Louisville in 2020 vs. 2019 is DOWN 4% (6,629 vs. 6,901).
The second thing I will tell my clients, colleagues, friends and neighbors is this may be a good time to reassess how you think about real estate. For those of us fortunate enough to own a place of our own, I would suggest adjusting your perspective. Yes, your home is likely your most important financial investment. And, like the assets in the stock market, the value of your home may take a temporary haircut before this pandemic runs its course. I would argue, however, that the wonderful and practical utility of owning a home has been overshadowed by many people focused solely on its economic promise. For much of the last decade we have been conditioned by HGTV, AirBNB, home flippers and private equity firms buying up hundreds of thousands of single-family homes across the country, to ruthlessly commodify the act of homeownership.
But beyond what your home means to your head (where cerebral concepts like home appreciation and equity dwell), think about what it means to your heart. Your home is the vessel that holds many of your life’s most treasured memories. It is where you tuck your children in for bed. Where you Netflix (and, if you’re lucky, also chill). Where you celebrate birthdays, holidays and sporting events with the people you love.
As we pause and reexamine all the facets of life that we may have taken for granted in our pre-COVID-19 world, let us focus again on the most fundamental nature of the roof and four walls that surround us. And, as we begin to appreciate anew the acts of gathering with friends, going out to restaurants, worshipping under one roof and cheering on our favorite teams, let us be mindful of and grateful for the simple yet profound role of shelter.
2020-08-12T07:00:00-07:002020-08-18T11:58:38-07:00Jay Gulicktag:kyselectproperties.com,2012-09-20:1732910 Questions to Ask About Homeowner's InsuranceWhen shopping for a home insurance policy, it pays to ask questions to make sure the policy you’re going to get is one that’s right for your needs. The “right” home insurance policy doesn’t even necessarily mean it has to be the most affordable one available. Your coverage has to match your needs, and that could cost more.
In any case, here are 10 questions you need to ask agents and <a href="https://www.bennettandporter.com/insurance/" target="_blank">insurance experts</a> you might know before buying homeowners insurance.
1. What is home insurance?
In all likelihood, you already know that home insurance is a type of property insurance that provides financial protection in the event your home and its contents are damaged or lost during a disaster.
Then again, you might want to have a better and deeper understanding of everything that comes with having home insurance. If that is the case, then pose this question to agents, and they will be more than glad to expound on the subject.
2. What perils does a homeowners insurance policy typically cover?
A basic homeowners insurance policy only covers loss and damages caused by the following:
Fire
Smoke
Windstorms
Lightning
Hail
Explosion
Vandalism
Theft
3. Will my home insurance policy cover flooding and earthquakes?
Like all insurance policies, a standard homeowners insurance policy has its limits. While it covers several perils, it draws the line at damage or loss caused by flooding and earthquakes.
If your home is located in a flood-prone area, you might want to consider getting a separate flood or earthquake insurance coverage.
Home insurance also does not cover intentional damage or loss, as well as those caused by neglect, power failure, war, and nuclear explosion.
4. What about water damage?
A standard home insurance policy may cover water damage, but it depends on several factors. Sudden and accidental water damage caused by a ruptured water heater or a burst upstairs pipe is covered. Water damage caused by water backing into your home through an outside sewer or drain is not. The same goes for water damage due to flooding after a heavy storm.
5. Can I opt for more coverage?
If you think that the basic home insurance policy does not match your needs, then you can always opt to purchase a higher level of coverage or buy add-ons. Of course, it means higher premium payments, so be ready for that part, too.
6. Will my policy compensate me for actual cash value or replacement cost?
As long as the damage or loss is due to any of the covered perils, your home insurance will compensate you. Whether or not you’re compensated for actual cash value or replacement cost will depend on your policy’s terms, though.
In case of damage, you’re only required to pay for the deductible out-of-pocket if you have a replacement cost policy. An actual cash value policy, however, means you’ll have to pay for more than just the deductible.
7. What is liability coverage?
One of the most notable things about home insurance policies is that they also provide liability coverage. Your homeowners insurance policy will protect you in case someone suffers an accidental injury on your property and sues you. It also covers any damage a member of your family causes to a neighbor, like a baseball through the glass window of the house next door.
8. How much liability coverage should I get?
Typical liability coverage in a standard home insurance policy is usually pegged at US$100,000. However, considering the legal and medical costs that a personal injury claim or suit may bring, you might want to get more coverage.
9. How about personal property coverage?
An inventory of your belongings should give you a good idea of how much personal property coverage you need. You can also base your personal property coverage on your dwelling protection, as most providers offer personal property insurance equal to 50% - 70% of the latter.
10. What is an ALE?
ALE stands for additional living expense, which will come in handy if the severe damage to your home forces you to stay somewhere else. The hotel bills, meals, and other expenses of you and your family will be paid for by the ALE provision of your home insurance.
These are just some of the questions you must ask agents before making a final decision on the homeowners insurance policy to purchase. As much as possible, talk to more than one agent about your home insurance concerns, so you can make comparisons and get the coverage you need at the best possible value.
2020-08-11T12:24:00-07:002020-08-18T11:53:13-07:00Jay Gulicktag:kyselectproperties.com,2012-09-20:17251Coming Together To Fight Food Insecurity in West Louisville (WAVE-3, July 2020)Kentucky Select is working closely with Change Today, Change Tomorrow to collect and distribute items for its "Feed The West" initiative. Kentucky Select Managing Broker and Partner, Jay Gulick, talks with with WAVE-3 about why the company got involved. <a href="https://www.wave3.com/video/2020/07/21/community-coming-together-feed-west/">Watch video</a>.2020-07-24T13:10:00-07:002020-08-11T05:57:15-07:00Jay Gulicktag:kyselectproperties.com,2012-09-20:17184Collection Items for Feed The West<img src="https://assets.site-static.com/userfiles/299/image/Food_Drive.jpg" width="600" alt="Feed The West Food Collection" />2020-07-15T07:29:00-07:002020-08-16T19:03:05-07:00Jay Gulick