Louisville Real Estate Market Statistics [2021 Trends]
Posted by Nathan Garrett on Wednesday, June 9th, 2021 at 3:50pm.
A quick look at the local Louisville housing market and the current average home prices in Louisville KY. Numbers and statistics for Louisville real estate are gathered from our local Louisville MLS for the month of May 2021.
Louisville KY Real Estate Market - May
| Number of Homes Sold: | 1205 |
| Median Sale Price: | $224,000 |
| Days on Market: | 16 |
| New Construction Last Month: | 70 |
Is the current market still affected by COVID-19?
Surprisingly, as you will see in the graph below we have had the second-best May for sales over the last ten years. Another interesting statistic is DOM (Days on Market). Down a staggering 137.5% from this time last year. Prices are clearly up and homes are in strong demand and selling fast. However, the median sale price might be possibly leveling out.
Line chart for Louisville real estate sales over the last 10-years
Showings are still going strong! We have seen a steady increase in showing request on active listings. As seen in the graph below, showings are now up 177.8% compared to this time last year. If this trend continues, the statistics for the month of April will continue to be strong.
Image Source: ShowimgTime Showing Index
Louisville Housing Market Report 2021
Looking at the statistics further from the Greater Louisville MLS, compared to May 2020, the data shows that homes continue to sell at a fast pace. There is still a lot of uncertainty about how the real estate market will be affected long term. However, with the median sale price up 6.25% compared to last year and the average days on market is down 137.50%. Things couldn't look any better for Sellers in this Louisville real estate market.
May 2021 Louisville Housing Statistics
- Median Sale Price: $224,000 (Up +6.25% from May 2020)
- List To Sale Price Ratio: 100.09% (Up +1.94% from May 2020)
- Days on the Market: 16 Days (Down -137.50% from May 2020)
- Total Sold Listings: 1,205 (Up +25.98% May 2020)
Homes on average right now are selling within 16 days on market. Over the years we have seen a great increase in home prices around the Louisville area. Right now may still a great time for homeowners that are thinking about selling because of the continued lack of listings but it looks like that could be shifting soon. The only question is when and how soon?
These numbers are from the Local MLS: Area of 00-Central Downtown District/Old Louisville, 01-Dtwn Old Louisville/Shively/West Lou, 02-Buchertwn/Hghlnds/Germantwn, 03-Clifton/Crescent Hill/St Matthews, 04-Pleasure Rdg/Valley Station/Shively, 05-Auburndale/Fairdale/IroquoisPrk/Shively, 06-Buchel/Hghvw/okolona/FernCreek, 07-FernCreek/Hikes Point/Jeffersontown, 08-DglasHls/Hurstbrn/Mdltwn/Anchrg/StMatt, 09-Anchrg/Glnvw/Lyndn/Prospct
Nathan Garrett is a local real estate agent in Louisville KY. Creator of the GarrettsRealty.com website. He specializes in Real Estate in Louisville and Oldham County. Questions about buying or selling? Send him an email: ngarrett@garrettsrealty.com