Tuesday, December 1, 2009
by Bob Sokoler
Spurred on by the $8000 first time home buyers tax credit, Louisville home sales jumped by a whopping 40 Percent in November when compared to a November 2008! Many of the sales were in the $100,000 to $200,000 price range, the target of first time buyers. Sellers of those homes moved up as homes in the $200,000 to $300,000 price point also did well.
Not All The News Is Good
Homes going under contract slowed during the month of November as the original 1st time home buyers tax credit deadline neared. Early in November the tax credit was extended to the end of April 2010 (to be under contract) and the end of June 2010 (to be closed). The extension took the pressure off buyers and the search for homes by first time buyers slowed. Officially the number of homes going under contract was up 11% in November over November of the year before.
Looking Forward To December
Because of tighter mortgage requirements and slower appraisals of homes, sales in December should be better than expected. Those two factors delayed closings that were supposed to have occurred in November. The slowdown will help boost December 2009 numbers and give a false sense of recovery. Unless we see more buyers come into the market during December and January, Home sale figures for the beginning of 2010 could fall far short of hopes and expectations.
Other Tax Credits
The local and National media have done little to promote the brand new $6500 tax credit for home owners who have owned their home for 5 years or more and buy their next home. Additionally we’re seen little publicity surrounding the $5000 new construction tax credit in Kentucky.
For more information head to www.weselllouisville.com.
November 2009
|
Number of Houses Under Contract
This month: 805
Last month: 1232
This month last year: 0
|
Number of Houses Sold & Closed
This month: 1110
Last month: 1210
This month last year: 0
|
|
Average Selling Price
This month: $158,208
Last month: $162,899
This month last year: $0
|
Average Days on Market
This month: 83
Last month: 84
This month last year: 0
|
Median Sales Price
132,275
|
November 2008
|
Number of Houses Under Contract
This month: 724
Last month: 777
This month last year: 0
|
Number of Houses Sold & Closed
This month: 662
Last month: 957
This month last year: 0
|
|
Average Selling Price
This month: $155,970
Last month: $152,206
This month last year: $0
|
Average Days on Market
This month: 82
Last month: 76
This month last year: 0
|
Median Sales Price
124,000
|
|
AREA
|
SALES
|
TOTAL $
|
AVG PRICE
|
MEDIAN
|
% OF LIST
|
AVG DOM
|
HOMES FOR SALE
|
|
00 (Central Downtown District/Old Louisville)
|
6
|
$1,716,000
|
$286,000
|
$107,500
|
95.91%
|
184
|
124
|
|
01 (Dtown/Old Louisville/Shively/West Lou)
|
61
|
$3,639,821
|
$59,669
|
$43,501
|
93.21%
|
71
|
844
|
|
02 (Butchertwn/Highlands/Germantwn)
|
79
|
$14,115,955
|
$178,683
|
$140,000
|
94.90%
|
54
|
491
|
|
03 (Clifton/Crescent Hill/St Matthews)
|
52
|
$10,301,650
|
$198,109
|
$177,475
|
94.91%
|
80
|
448
|
|
04 (Pleasure Ridge/Valley Station/Shively)
|
86
|
$9,142,523
|
$106,308
|
$102,338
|
97.35%
|
66
|
409
|
|
05 (Auburndale/Fairdale/Iroquois Prk/Shively)
|
82
|
$9,808,939
|
$119,621
|
$109,950
|
97.39%
|
97
|
530
|
|
06 (Buechel/Highview/Okolona/FernCreek)
|
126
|
$15,600,121
|
$123,810
|
$123,513
|
97.84%
|
76
|
901
|
|
07 (FernCreek/Hikes Point/Jeffersontown)
|
129
|
$21,212,072
|
$164,435
|
$145,000
|
98.82%
|
72
|
688
|
|
08 (DglasHls/Hurstbrn/Mdltwn/Anchrg/StMatt)
|
76
|
$18,235,274
|
$239,938
|
$219,950
|
94.78%
|
88
|
717
|
|
09 (Anchrg/Glenview/Lyndn/Prospect)
|
99
|
$24,191,988
|
$244,364
|
$185,000
|
93.77%
|
91
|
713
|
|
10 (Nelson Co)
|
28
|
$3,939,400
|
$140,693
|
$114,900
|
90.65%
|
133
|
295
|
|
11 (Bullitt Co)
|
67
|
$9,473,379
|
$141,394
|
$128,400
|
96.04%
|
84
|
599
|
|
12 (Other Counties)
|
23
|
$2,159,562
|
$93,894
|
$103,000
|
94.99%
|
49
|
221
|
|
13 (Indiana)
|
7
|
$918,510
|
$131,216
|
$119,000
|
95.89%
|
84
|
53
|
|
14 (Other States)
|
0
|
$0
|
$0
|
$0
|
0.00%
|
0
|
0
|
|
15 (Carroll Co)
|
6
|
$485,500
|
$80,917
|
$84,000
|
86.93%
|
113
|
68
|
|
16 (Hardin Co)
|
35
|
$4,514,167
|
$128,976
|
$117,117
|
97.57%
|
68
|
278
|
|
17 (Hart/LaRue Counties)
|
5
|
$519,500
|
$103,900
|
$110,000
|
94.87%
|
48
|
42
|
|
18 (Washington/Marion Counties)
|
0
|
$0
|
$0
|
$0
|
0.00%
|
0
|
16
|
|
19 (Spencer Co)
|
11
|
$1,801,442
|
$163,767
|
$150,000
|
97.44%
|
92
|
163
|
|
20 (Oldham Co N-I71)
|
35
|
$9,925,987
|
$283,600
|
$228,000
|
95.02%
|
127
|
365
|
|
21 (Oldham Co S-I71)
|
24
|
$4,868,120
|
$202,838
|
$192,000
|
96.81%
|
106
|
298
|
|
29 (Henry Co)
|
8
|
$489,400
|
$61,175
|
$36,250
|
95.89%
|
90
|
148
|
|
30 (Shelby Co)
|
41
|
$5,878,924
|
$143,388
|
$135,000
|
95.86%
|
96
|
447
|
|
31 (Meade Co)
|
20
|
$2,361,147
|
$118,057
|
$129,700
|
99.08%
|
83
|
127
|
|
34 (Trimble Co)
|
4
|
$312,000
|
$78,000
|
$61,000
|
94.98%
|
241
|
56
|
|
Total
|
1110
|
$175,611,381
|
$158,208
|
$132,138
|
96%
|
83
|
9041
|
