The Unofficial Homepage of St. Matthews: January 2013

Louisville Condo / Townhome Update

Downtown Louisville Condos Waterfront Park Place Preston Pointe

 

In the past few days, I've updated a client of mine regarding the Louisville Condo / Townhome market since January 1, 2012.  This particular luxury condo in St Matthews is a substantial property, so my research includes condos and townhomes located in Louisville / Jefferson County with prices of at least $300,000.

In Louisville, there are various areas where this price level of condos / townhomes sell.  Here is a breakdown of the areas:

Area 0 - Downtown / Central Business District - Downtown Louisville continues to undergo much change.  Since 2004 or so, condo buildings have sprung up, old unused buildings have been renovated to house condos, and the dream that Downtown Louisville will be the pulse of the city remains in view because of these improvements.  The condo market in Downtown Louisville is the most active of all areas for condos in Jefferson County.  The East Market Street NuLu neighborhood remains a popular attraction for those seeking urban living.

Area 2 - The Highlands / Douglass Loop - The Highlands as always is one of the most popular addresses in Louisville.  Located minutes from downtown and known for great restaurants, hip boutiques, and old world charm and architecture, The Highlands condo market is tighter than the other areas in the sense that there are fewer units for sale and fewer that sell in general.  

Area 3 - St Matthews / Crescent Hill / Mockingbird Valley - Further east, is Frankfort Avenue.  A mini-Bardstown Road in its own right, Frankfort Avenue has similar appeal to the Highlands with regard to shopping and dining.  It just has fewer options, but it is equally charming and convenient, and since the neighborhoods of Clifton and Crescent Hill are smaller than the Highlands, there are plenty of options.  St Matthews is further east, and has pockets of condos / townhomes from very affordable to very expensive.  St Matthews is also a hotspot for shopping and dining with plenty of local shoppes and restaurants as well as large mall shopping.  Excellent dining choices also abound.  Mockingbird Valley is between St Matthews northern boundary Brownsboro Road & River Road, and is home to some of Louisville's most expensive real estate, including recently developed Mockingbird Terrace.

Area 8 - East Louisville / Hurstbourne / Shelbyville Rd. - Much of the condo / townhome development in East Louisville in this price range has occurred or is occurring east of the Gene Snyder near Lake Forest and other Landis Lakes.  With additional development including some retail and the easy drive to Middletown shopping and dining, condos / townhomes in East Louisville are selling well.

Area 9 - Northeast Louisville / Prospect - Travel north on U.S. Highway 42 for a picturesque commute among the woods and nestled close to Harrods Creek and the Ohio River.  At the corner of Highway 42 and Highway 22 is a large recent development of luxury condos called Seminary Woods.  Additionally, there are a few other developments in the area that contribute to Northeast Louisville's numbers.

In Jefferson County, these are the areas where condos priced at minimum $300,000 are found.  Here are some interesting facts concerning this market segment since January 1, 2012:

Current Active Inventory as of January 22, 2013:

Area 0 - Downtown / Central Business District - 21 Active listings - Median List Price:  $399,747 - High List Price:  $1,099,000 - Average Square Footage:  1,820 - Average Days on Market:  915

Area 2 - The Highlands / Douglass Loop - 10 Active listings - Median List Price:  $399,000 - High List Price:  $799,000 - Average Square Footage:  2,259 - Average Days on Market:  643

Area 3 - St Matthews / Crescent Hill / Mockingbird Valley - 18 Active listings - Median List Price:  $495,000 - High List Price:  $750,000 - Average Square Footage:  2,613 - Average Days on Market:  291

Area 8 - East Louisville / Hurstbourne / Shelbyville Rd. - 13 Active listings - Median List Price:  $389,000 - High List Price:  $499,000 - Average Square Footage:  2,213 - Average Days on Market:  262

Area 9 - Northeast Louisville / Prospect - 26 Active listings - Median List Price:  $579,475 - High List Price:  $6,159,000 - Average Square Footage:  3,288 - Average Days on Market:  351

Current Pending Inventory (Condos / Townhomes with accepted contracts that have not yet become closed sales):

Area 0 - Downtown / Central Business District - 3 Pending SalesMedian List Price:  $339,975 - High List Price:  $424,805 - Average Square Footage:  1,611 - Average Days on Market:  271

Area 2 - The Highlands / Douglass Loop - 0 Pending Sales

Area 3 - St Matthews / Crescent Hill / Mockingbird Valley - 3 Pending Sales - Median List Price:  $344,900 - High List Price:  $680,000 - Average Square Footage:  2,946 - Average Days on Market:  291

Area 8 - East Louisville / Hurtbourne / Shelbyville Rd. - 3 Pending Sales - Median List Price:  $350,000 - High List Price:  $385,000 - Average Square Footage:  2,717 - Average Days on Market:  108

Area 9 - Northeast Louisville / Prospect - 3 Pending Sales - Median List Price:  $329,990 - High List Price:  $900,000 - Average Square Footage:  2,476 - Average Days on Market:  368

Closed Sales since January 1, 2012:

Area 0 - Downtown - Central Business District - 13 Closed Sales - Median Sale Price:  $424,575 - High Sale Price:  $973,750 - Average Square Footage:  1,690 - Average Days on Market:  422

Area 2 - The Highlands / Douglass Loop - 16 Closed Sales - Median Sale Price:  $303,000 - High Sale Price:  $815,000 - Average Square Footage:  2,056 - Average Days on Market:  290

Area 3 - St Matthews / Crescent Hill / Mockingbird Valley - 16 Closed Sales - Median Sale Price:  $$346,000 - High Sale Price:  $650,000 - Average Square Footage:  2,344 - Average Days on Market:  243

Area 8 - East Louisville / Hurstbourne / Shelbyville Rd. - 28 Closed Sales - Median Sale Price:  $344,750 - High Sale Price:  $535,000 - Average Square Footage:  2,401 - Average Days on Market:  194

Area 9 - Northeast Louisville / Prospect - 16 Closed Sales - Median Sale Price:  $332,000 - High Sale Price:  $445,000 - Average Square Footage:  2,476 - Average Days on Market:  368

Some quick takeaways from this Louisville Condo / Townhome report:

There were a total of 89 closes sales of Louisville Condos / Townhomes since 1/1/2012.  This is a small but competitive market, and it requires strategic marketing and a very polished bit of knowledge to navigate.  

Louisville Condo sellers interested in a more in-depth market analysis designed to help determine if now is a good time for a move should contact The Thomas Group of Keller Williams Realty Louisville East for a no-obligation consultation.

 



 

502-509-9278

chris@metrolouisvillemls.net

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Comment balloon 0 commentsChris Thomas • January 29 2013 02:51PM
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