As I drive through the Highlands on an almost daily basis, I normally don’t carry my video camera with me. But on some days, I have it along. Or maybe I decide to throw my iPhone in the front dash and take a short video to help the curious get a better idea of just what makes the Highlands such a special part of Louisville. On this video, I drove through a few streets in and around Cherokee Triangle in the Highlands.
50% of Louisville Highlands homes for sale in zip code 40205 have reduced their asking price, close to a year long high. One year ago, only 48% of homes in 40205 had reduced their asking price, and that number dipped down to about 36%, but has climbed lately back to the 50% mark early in 2010. Homes for sale in 40204 have behaved a little differently, starting around 40% one year ago, before dropping to under 30% earlier this year. However, homes for sale price reductions have climbed again to 43% for homes in 40204.
The Median Market Action Index for Louisville Highlands Real Estate, as measured by Altos Research, has fallen from close to 20 in June down to 16 as of the most recent measurement this week. Any measurement below 30 would indicate a Buyer’s Market, with measurements above 30 indicating a Seller’s Market. As you can see, we are well below 30, and seem to be falling each month.
Here is a quick update for the Louisville Highlands real estate market, with the price of homes for sale in zip codes 40204 and 40205 being illustrated on the graph below. The line in gold is for zip code 40205 and covers the past 12 months. Overall, the median asking price for 40205 has been pretty steady, with the last measurement pretty close to the same value we measured last year, very close to $280,000, give or take a few thousand dollars. Louisville Highlands homes for sale in 40204 have seen a bit more movement in the same time frame, starting at $160,000 last year, up to $240,000 in late summer and now trailing off a bit to a median asking price of $200,000.
Normally I post graphs about the prices of homes for sale in the Highlands with the zip codes of 40204 and 40205 combined. But today I went ahead and split the two zip codes up, and the graph below shows only the median price data for homes for sale Louisville Highlands 40205. As you can see, prices have been falling for the past few weeks and even months, dropping from a high median asking price of $290,000 in late summer down to $269,000 this past week.
Homes for sale in the 40204 zip code, which is a large portion of the Highlands neighborhood in Louisville saw an unexpected spike in the asking price of homes for sale. About a week or two ago, the median asking price of homes for sale in 40204 was right around $162,000, but as of the last measurement taken within the past few days, the median price is now closer to $200,000. This is still well below recent prices of $250,000, but at this point, we will take what we can get.
Louisville Highlands 40204 Homes For Sale Prices
If you have any questions about homes for sale 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.
Louisville Highlands homes for sale asking price has been graphed below, for zip codes 40204 and 40205, for the past twelve months. The gold line is for 40205, and shows that the asking price of homes for sale in that particular part of the Highlands, and it appears to have remained relatively stable over the past year, spending quite a bit of time between $270,000 and $280,000. The asking price of homes for sale in 40204 has seen quite a bit more volatility, and has fluctuated from $160,000 a year ago, up to $240,000 in August, and back down to $200,000.
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.
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 sake of my short weekly posts about homes for sale in the Highlands, I use homes located in the 40204 and 40205 zip codes, which should just about take care of any homes that most people would consider the Highlands. I have graphed the asking price of homes for sale in each zip code, and as you can see, they are behaving a little differently. The median asking price for homes for sale in 40205 seems to have leveled out just a hair over $280,000, and has been there for quite a few weeks and months.
Louisville Highlands Homes For Sale Pricing
However, home prices in 40204 really made a strong push upwards in the summer, and are now falling back down, and they have been dropping since mid August, so almost three months of declining 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.
