Louisville’s Million Dollar Housing Market Explodes

1679 Spring Dr Louisville, KY

The 2013 Louisville real estate market showed a strong (to quite strong) improvement over 2012.  The average sale price of a home in Jefferson County for 2012 was $157,759 compared to $173,450  in 2013. Also, there were 1,001 more homes sold in Jefferson County during 2013 (8,768 homes) than were sold in 2012 (7,767 homes). There’s no doubt that this is a good thing, especially considering the inventory shortage that we are currently experiencing and have been for the better part of the last year. One thing that we weren’t short on last year was million dollar home sales. That’s right, Louisville Metro, Jefferson County saw an incredible increase in homes sold at or above the million dollar price tag. Here’s the breakdown:

2012:

Homes sold at or above 1 million dollars = 14
Highest home sale = $1,780,000
Total volume of all million dollar sales = $16,693,750
Average sale price of million dollar homes = $1,192,410

2013:

Homes sold at or above 1 million dollars = 39
Highest home sale = $3,600,000 
Total volume of all million dollar sales = $61,250,458
Average sale price of million dollar homes = $1,570,534

1679 Spring Dr Louisville, KY

That’s quite a contrasting picture! Here’s what is currently for sale in the Highlands over a million. It will be interesting to see how 2014 shakes out for million dollar sales. If it’s anything like last year then we’re moving in the right direction!

If you’re thinking of buying or selling a home in Louisville Metro, Jefferson County or Oldham, Shelby, Spencer, and Bullitt counties, I would love to speak with you about your move. 502.509.9278 – justin@metrolouisvillemls.net

Feel free to view Louisville homes for sale at LouisvilleHomePlace.com

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