Louisville Kentucky Mls Real Estate Market Report For November 2012

This report covers what happened from the month of November 2012 from 11-01-12 as to 11-30-12 in the Louisville Kentucky Real Estate market

. All of the data below is from the Greater Louisville Association of REALTORS Multiple Listing Service.

It was a very active month of November 2012 as Louisville Real Estate market continued to gain strength with 1039 Louisville Homes for Sale being reported as sold last month. The average price of the homes reported sold last month in the Louisville MLS was $171,136 and the median price of the homes reported sold this week in Louisville was $137,500. In comparison from 2011, 108 more homes were sold this November compared to last year with a higher overall average and median sale price.

The average days on market were 83 for all homes sold in Louisville during November 2012, down from 94 in November 2011. The least expensive of the Louisville homes reported sold last month in Jefferson County was an 1186 SF 3 bedroom 1 bath home on Cedar Street Downtown. It sold for $2,000 after being on the market for 20 days. Area 6, which covers Buechel, Highview, Okolona, and Fern Creek reported the most sales in November 2012, with 116 and an average sales price of $121,659. Area 6 was followed closely by area 7, covering Fern Creek, Hikes Point, and Jeffersontown. The 113 homes sold in area 7 last month had an average sale price of $154,845.

The most expensive home reported sold in November in the Louisville MLS was a 10150 SF 6 bedroom 7 bath home on more than 30 acres in Simpsonville. It sold for $1,900,000 after being on the market for 760 days. Conventional and FHA financing continued to be the most popular way to purchase a home, with 71% of November 2012s home purchases involving one of these methods.

What does it all mean for Louisville Real Estate?

The Louisville Real Estate market has certainly stabilized over the past year after the fallout from the financial crisis of the previous few years. It is important to note the increased sales volume and average sale price from November 2011 to last month. With interest rates on loans now being lower than ever, it seems like the market is in good shape moving forward into the spring market.

by: Seo Majesty

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