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.

In Louisville, the Highlands area is comprised of two zip codes, for the most part, 40204 and 40205.  If you take a look at the graph below, you can see how the two different zip codes behave in regards to the asking price of homes for sale in each zip code.  For instance, the median price of the more expensive zip code, 40205, has risen a bit over the past six months, even though the asking price has dropped a bit since a few months ago.  As of last week, it appears that the median asking price in 40205 in just under $280,000.  In 40204, the picture is a bit different, with the price of Louisville Highlands homes for sale dropping back to the same price they were six months ago, about $200,000.

Louisville Highlands Homes For Sale Price

As we all prepare for Thanksgiving in just a few days, I wanted to sneak a peek at what was happening to prices on homes for sale in Louisville, Ky.  The last few times I have written about this subject, it seems that prices have been dropping just a bit, and today doesn’t seem to be much different.  Here is a graph I have put together just to see what our 90 day trend lines is doing, as well as our weekly data points.

Homes For Sale Louisville Prices

As you can see, the 90 day trend line started bending down back in August and hasn’t really made any movements back up since then.  The same is pretty much true for the weekly data points for prices for homes for sale in Louisville, with prices mostly going down since late summer, with just a very little drop this past week.

If you have any questions about homes for sale Louisville, please visit my website at www.GregFly.com.  Also, please feel free to call anytime or send me an email at greg@gregfly.com.

The past few weeks, I have noticed, and discussed an unexpected and sharp rise in the median asking price of homes in the St Matthews neighborhood of Louisville.  For some reason, a bunch of higher end homes came on to the market in the 40207 zip code last month and really pushed the median sales price, or asking price, of homes all the way up to $300,000.  However, it looks like things might have settled down a bit, and the median price might be on its way back down.  We can see the change of direction in the graph lines on the weekly data points, but they don’t reflect yet on the 90 day rolling average trend line yet, which is still being heavily influenced by the recent rash of higher priced homes hitting the market in St Matthews.

Homes For Sale Louisville St Matthews Price

If you have any questions about homes for sale Louisville St Matthews, or Louisville real estate in general, please visit my website at www.GregFly.com.  Also, please feel free to call anytime or send me an email at greg@gregfly.com.

I have been watching the prices of homes for sale in the Highlands area of Louisville, and noticed a bit of a drop in the past week or two.  The drop is much more pronounced in 40204 when compared to 40205, both of which are located in the Highlands.  The homes for sale in 40205 seem to be holding steady pretty close to $275,000, with just a small decline in prices over the past two weeks, but pretty steady overall.  But in 40204, we see a drop from $225,000 just a few weeks ago to a median price of below $175,000 just last week for homes for sale.

Louisville Highlands Real Estate Prices

If you have any questions about homes for sale Louisville Highlands, or Louisville real estate in general, please visit my website at www.GregFly.com.  Also, please feel free to call anytime or send me an email at greg@gregfly.com.

For the past few months, the asking price of homes for sale in Prospect Ky has been amazingly stable, right at $500,000 for the median price.  Instead of looking at that same info, today I wanted to look at the median price for homes for sale in Prospect that are new listings, that is, just the new listings that came on to the market in the preceding week.  Against that measurement, I wanted to see what the median price was for homes that left the market, by either being sold or simply leaving the market without a contract.  Here is what I found:

Homes for sale Prospect Ky Prices

Not surprisingly, the homes that are leaving the market, or being absorbed, were consistently priced lower than the homes just coming on to the market.  If I had included the median price of the homes already on the market, you would have seen an even bigger difference in price.

If you have any questions about homes for sale Prospect Ky, or Louisville real estate in general, please visit my website at www.GregFly.com.  Also, please feel free to call anytime or send me an email at greg@gregfly.com.

Anchorage Ky real estate is often considered one of the premier locations and home to some of Louisville’s nicest properties, and most expensive.  As such, it would not be unreasonable to assume that with a depressed market and slow sales, that Anchorage sales would also slow down a bit.  To test my thinking, I dug up some quick numbers to see what exactly what is going on in Anchorage.  So far in 2009, 85 listings have come on to the market, but there are only 39 currently on the market today.  At first, that makes it seem that the rest have sold, but that is not the case.  Of the 85 listings that have come on the market so far in 2009, we have had only 20 sold properties in Anchorage so far, which is sales percentage well below that of the city at large.

Anchorage Ky Real Estate

If you have any questions about Anchorage Ky homes for sale, or Louisville real estate in general, please visit my website at www.GregFly.com.  Also, please feel free to call anytime or send me an email at greg@gregfly.com.

Ouch, it was a bad week for homes for sale in Louisville, at least in regards to the asking price of homes currently on the market.  Prices of active homes have been dropping fairly steadily since late summer, but last week, the asking median asking prices for homes for sale in Louisville fell about $3,000, in just one week.  During the summer, it appeared that asking prices were going to settle down a bit around $169,000, but since late August or early September, we have seen the median price in Louisville steadily erode down to the last measurement of $155,000.

Homes For Sale Louisville Prices

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Last week I got an email from a gentleman who currently has his home on the market and is looking at a foreclosure square in the face.  He has fallen behind by a few months on his mortgage, and feels that he might be unable to meet his financial obligations going forward.  He found me on the web and asked if I would be interested in talking to him about Louisville short sales and whether or not I would be interested in helping him sell his house.

All of which brings up the question:  If your home is listed with an agent, and you are facing a foreclosure or short sale, when should you consider changing agents?

That’s a hard question to answer, but some cases are pretty clear cut.  If a short sale is a possibility, then making sure you have the right agent at the forefront is of utmost importance.  If you hired poorly, then you may have some questions to ask yourself.  Who is doing the bulk of the work?  If you are dealing with the bank more than your agent, it may be time to switch, if your contract allows it.  Also, if it seems that you know more about Louisville short sales than your agent, it may be time to switch.  Finally, if your agent is pricing your short sale aggressively, and seems content to stick a sign in the yard and simply wait and hope for something magical to happen, it may be time to switch.  Again, check the listing contract you signed to make sure you can fire your agent, but if you can, a switch may be in order.

A few months ago, we saw prices for J’Town condos sliding, with no end in sight.  However, over the past fews weeks, it looks like condo prices may have hit bottom, and in fact, are starting to rebound just a bit.

J'Town Condo Prices

This trend fits in very well with anecdotal evidence I have received from a friend who is a builder and developer of new construction condos in J’Town.  According to him, his project, which is located just off of Six Mile Lane, has really seen an increase in activity lately.  He has seen enough activity, and has sold enough units in his largest project, Magnolia Place Condos, that he is considering starting the second phase soon, which most builders would have considered insane just a year or two ago.

If you would like to see pictures of the property I just discussed above, please visit www.Magnolia-Place-Condos.com.  I host the website for the builder, and write an occasional article about the units, but I am not the listing agent.  If you want to make an appointment to see the units, you should contact the listing agent or broker.