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.
