Over the past few years, Prospect has seen bad news as concerned with Real Estate.  Recently, there have been fewer buyers, combined with more sellers continuing to put their homes on the market.  The end result, in too many circumstances, is that Propsect homes aren’t getting the price that most of the sellers had hoped for.  This basically means that if you are selling your home in Prospect, you will be up against more competition than ever.  To help sellers and to combat that scenario, I have started printing up individual signs for each and every seller, unique to their home.

Prospect Ky real estate yard sign

Instead of filling the space, which measures 6 sq ft compared with 3 sq ft for most agents signs, with pictures of the agent, I use the space to promote the home, complete with three interior photos, a brief description of the home, as well as a banner advertising the home address as a single property web address.  If you are thinking of selling anytime soon, and think you might want a sign like this in front of your home, please don’t hesitate to call.

If you have any questions about homes in Prospect, please don’t hesitate to visit the most complete Prospect Ky Real Estate website at www.GregFly.com.  You can also call me anytime at 1-888-GREG-FLY or email me at greg@gregfly.com.  In addition, if you would like receive FREE weekly updates for real estate activity within any Louisville zip code, please visit my Louisville KY Real Estate Statistics webpage at http://www.gregfly.com/market-reports-c16673.html.

In all of 2008, the median sales price in Area 2 of Jefferson County, which covers the Highlands and Germantown, was $150,000, which compared pretty well with 2007′s median sales price of $156,250.  Those two numbers represent the highest year ending numbers the Highlands has ever seen.  So far, in 2009, the median sales price for Area 2 is only $121,000, the lowest value I can find since the year 2000.

If you prefer looking at average sales prices instead of medians, the news isn’t much better.  The average sales price for the Highlands and Germantown in 2007 was $194,812, the highest ever.  2008 was the second highest ever at $191,983.  So far in 2009, the average sales price for Area 2 is $145,141, which is lower than each year all the way back to 2000!

If you have any questions about homes in the Highlands, please don’t hesitate to visit the most complete Louisville Highlands Real Estate website at www.GregFly.com.  You can also call me anytime at 1-888-GREG-FLY or email me at greg@gregfly.com.

Looking at February’s numbers, it becomes apparent that the situation is a bit more nuanced than local media would have you believe, and there is some good news, and some bad news.  Doesn’t that always seem to be the case?

In all of 2008, the median sales price in Louisville Indian Hills was $380,000, which compared pretty favorably with 2007′s median sales price of $392,000.  Those two numbers represent the third and fourth highest year ending numbers Indian Hills has ever seen.  So far, in 2009, the median sales price for Indian Hills is $501,000, even higher than last year!  A lot higher!  Now, a quick disclaimer:  I used MLS data for this post, and I only used properties that were marked as “Indian Hills” by the listing agent.  If they did not list their home as being in Indian Hills, but it really is, then it is not included in these numbers.

If you prefer looking at average sales prices instead of medians, the news looks much different.  The average sales price for Indian Hills in 2007 was $495,619, the third highest value ever.  2008 was the fourth highest ever at $490,121.  So far in 2009, the average sales price for Indian Hills is down even further to $438,667, all the way down to 2003 levels!

So far, I’ve given you good news, and then bad news.  How about neutral to bad news?  The past few years, Indian Hills has averaged about 3-4 sales per month, with 2008 falling to under 2 sales per month.  So far, in 2009, we are averaging under 1.5 sales per month.  Not great, and well behind the pace of 2005, which averaged over 4.25 sales per month.

If you have any questions about homes in Indian Hills, please don’t hesitate to visit the most complete Louisville Indian Hills real estate website at www.GregFly.com.  You can also call me anytime at 1-888-GREG-FLY or email me at greg@gregfly.com.

Here is a quick break down on real estate sales activity in the Highlands area of Louisville, KY for February 2009.

# Units Sold in February:     2008 = 59     2009 = 34    that’s a decrease of about 42%!

Median Sales Price in February:     2008 = $140,000     2009 = $122,000     that’s  a decrease of 13%

Average Sales Price in February:     2008 = $165,404    2009 = $136,571   which works out to a decrease of almost 18%!

If you have any questions about homes in the Highlands, please don’t hesitate to visit the most complete Highlands Real Estate website at www.GregFly.com.  You can also call me anytime at 1-888-GREG-FLY or email me at greg@gregfly.com.

It doesn’t happen often, but every once in awhile, there is new construction that occurs in the Highlands neighborhood of Louisville.  Now is such a time.  Here is a quick picture of a home that Miter Construction is wrapping up at the corner of Valley Vista and Dundee Road.

New construction home in the Highlands area of Louisville

If you have any questions at all about anything related to Louisville Highlands Real Estate, please don’t hesitate to visit the most complete Louisville Kentucky Real Estate website at www.GregFly.com.  You may also reach me at 1-888-GREG-FLY or email me at greg@gregfly.com.

In 1999, the average home in St. Matthews sold for $203,816, and the DJIA closed the year at 11,497.

In 2008, the average home in St. Matthews sold for $274,188 and the DJIA closed the year at 8,776.

Over the same 10 year period, the average home in St. Matthews rose in value by 34%, but the Dow Jones lost 24%

If you had bought an average St. Matthews house in 1999 and sold in 2008 you would have made about $70,000.  And, if instead of buying a house in 1999, you had invested your $200,000 in the stock market, you would have lost about $48,000.

So even if you had to sell last year in the “down market” you would have still made $118,000 more than you would have had you bought into the stock market in 1999!

If you have any questions about St. Matthews homes, please don’t hesitate to visit the most complete St. Matthews Real Estate website at www.GregFly.com.  You can also call me anytime at 1-888-GREG-FLY or email me at greg@gregfly.com.