Louisville luxury homes have seen their asking price drop almost $40,000 from highs seen in the summer months.  Luxury homes, defined here as the most expensive 25% of homes on the market, started 2009 with a median price of $357,000 or so, rose to $415,000 in June, and have since fallen to current levels of $375,000.  These are not sales prices, so this graph does not mean that homes are necessarily selling for more or less, but rather this chart is all about asking prices of homes for sale in Louisville.

Louisville Luxury Homes Prices

The median asking price for the most expensive 25% of Louisville Luxury Homes for sale in St Matthews is inching up towards $900,000 and appears to be only a few thousand away from that mark.  The graph below shows the median asking price of the highest priced Louisville luxury homes for sale in 40207 for the past year, and the median asking price has risen from a low of about $700,000 to it’s current level, a rise of almost $200,000!  Of course, that is just the asking price, that doesn’t mean that the sellers are getting that kind of price.  I suppose that’s the bad news for sellers.  High end homes simply aren’t selling like they used to, and there are simply more of them on the market than normal, thereby driving up the median and average asking price of homes that are for sale.  The prices of homes that have sold are actually declining.

Louisville Luxury Homes In St Matthews

I had a chance to sit down today with one of Louisville’s luxury home builders in my office today, after he gave a presentation to one of our clients.  Fred Andres, President of Miter Construction, has been building homes in the Louisville area for quite awhile now, and built and sold two luxury homes last year, in a really down year for expensive homes.  Here is just a short bit of video from our meeting today:

For transparency sake and for full disclosure, I will tell you that Fred is my step-brother, and has been for many years.  But that doesn’t mean that he isn’t one of Louisville’s premier luxury home builders!

If you’d like more information on Louisville Luxury Homes or high end homes in general, please make sure to visit my website and I’ll be happy to answer your questions.

Instead of looking at all of the homes for sale in Prospect, today I separated out the most expensive 25% of homes currently for sale in Prospect, and looked at how all of the luxury homes in Prospect have been behaving, price wise.  I have included two lines on the graph to look at, the gold line which shows the 90 day trend line for luxury homes in Prospect, which is a rolling average of all of the weekly data points over the past 90 days.  The black line graphs the actual data points, every week.  If you remember from graphs past, all of the homes for sale in Prospect have a median sales price of just around $500,000, but the Prospect Luxury Homes currently on the market have a median asking price of around $950,000, making it one of the more expensive areas in the Greater Louisville real estate market place.

Prospect Luxury Homes Prices

If you’d like more information on Luxury Homes For Sale Louisville or high end homes in general, please make sure to visit my website and I’ll be happy to answer your questions.

OK, I know we haven’t closed out 2009 yet, but I recently met with some potential clients, with a very expensive home to sell, and they asked me about my experience selling high end homes.  Since I enjoy playing with statistics, I had some numbers ready for them, and I kinda impressed myself with the results.  So far in 2009, I am responsible for selling over 6.5% of home closed transactions in Louisville worth over $900,000!

So if you need to sell your Louisville luxury home, and would like to see the marketing plan that has accounted for over 6% of all closed luxury home sales so far in 2009, please make sure to contact me at your earliest convenience.