Now we’re talking!
Today, we report another month of positive real estate news as Louisville home sales were up 18 percent over last year! Eight hundred, fifty-two homes were sold in July 2012, compared to just 720 in July 2011.
While this was just shy of May and June’s identical 859 homes sold, activity was likely affected by the record heat wave blasting the area, and might have been higher.
For some historical perspective, 678 Louisville homes were sold in July 2010, 926 in July 2009, and 696 in July 2008.
Louisville home values are also improving.
The median home sale price for the month dipped from $147,000 in June to $144,590 in July but with the trend still moving upward, there may be some optimism for those holding to the view of a recovering real estate market.
The current median home value for Jefferson County is 4% higher than at this time last year. With our annual GDP growth rate at 1.5 percent, any improvement higher than that should be seen as a victory.
Still a long way from recovery, and with the upcoming elections likely to throw a wrench or two into the mix, these data points highlight an overall improvement in the Louisville real estate market which is a welcome sound, especially to these ears.