Louisville Condo Real Estate Statistics
| Average Condo Price | $337K |
|---|---|
| Lowest Priced Condo | $12.5K |
| Highest Priced Condo | $4M |
| Total Condos for Sale | 131 |
| Avg. Days On Market | 57 |
| Avg. Price/SQFT | $192 |
Property Types (active listings)
Browse all Louisville Condos for Sale
| All Listings | Under $100,000 | $100,000 - $200,000 |
|---|---|---|
| $200,000 - $300,000 | $300,000 - $400,000 | $400,000 - $500,000 |
| $500,000 - $600,000 | $600,000 - $700,000 | $700,000 - $800,000 |
| $900,000 - $1,000,000 | Over $1,000,000 |
Guide To Living in Louisville Condos
When looking for a place to call home, some may consider a more maintenance-free lifestyle. Condominiums are becoming more and more popular around Louisville KY. Some are deciding on downtown lofts, waterfront condos or even a similar style patio home or townhome.
A good question to ask yourself is, what should I consider when buying a condo?
Some condo associations have a monthly maintenance fee covering a variety of amenities. Before choosing a specific condominium, find out more about the Home Owners Association. Review the bylaws and restrictions, and how they fit with your living arrangements. Find out how much the maintenance fee is and if there is a set annual increase.
If you have any questions about a Louisville condo for sale, feel free to contact us today.
Living in a condo in Louisville KY is becoming more and more of a growing trend. Local homebuyers and people relocating here may prefer the maintenance-free lifestyle. Living in a condo often allows owners to have access to a pool, tennis courts, and even live nearby local shops.
Some condo buyers are looking to live closer to Downtown. Having the benefit of being closer to restaurants, shops, farmers markets, and other great attractions.
Pros and Cons of Buying a Condominium
Pros of Living in a Condominium
As you may know, there are a lot of benefits to owning a condo or Downtown Louisville loft. Below we highlight some of the benefits of owning a condominium.
- Easy to Maintain- Condos in Louisville KY are typically easier to maintain. You are not responsible for yard work, roof repair/gutters, and groundskeeping.
- Location- Condos for sale in Louisville KY are usually in a great location.
- Security- Many of the condos in Louisville offer additional security. Ranging from private parking, security cameras, gated entrances, and even keypad controlled access.
- Service & Amenities- Many Lofts and Condos offer fantastic amenities to the residents. Enjoy access to the community pool, tennis courts, workout facilities and more.
- Neighbors- Living in a condo in Louisville is a great way to meet other local neighbors. Many condos have lounge areas that have a small library, meeting rooms, and even free Wi-Fi hotspots.
Cons of Living in a Condominium
Unfortunately, there are some drawbacks when it comes to owning a condo in Louisville. Below are some of the negatives that may come with owning a condominium.
- Monthly Maintenance Fees- Your maintenance fee is usually applied to the basic cost of maintaining the area. From snow removal, grounds keeping, master insurance, upkeep of amenities, and more.
- Privacy- When it comes to living in a condo you will notice that you do not have the same amount of privacy compared to living in a home.
- Harder to Sell- Condos statistically take longer to sell in the Louisville real estate market. The demand is lower and also because of financing barriers that come along with certain condo communities (ex: FHA/VA approved).
- Appreciation- Condominiums in Louisville may not appreciate at the same pace as a home.
Louisville Condos vs Louisville Patio Homes
Understanding the difference between a condominium and a patio home. A condo in most instances is a type of ownership where you pay a monthly maintenance fee and abide by restrictions in place. Condos are similar to apartment buildings if you are looking for an architectural style comparison. The difference is that you, as an owner, own the interior space of the condo and share ownership of the common areas. You do not, own the land that the condo building is on and the amenities.
A patio home is similar to a single-family home or townhome. Where the developer has built a cluster of patio homes in most instances, shared walls. Sometimes a patio home or townhome may also be in the same category as a condo because they may offer the same features.
Popular Condo Neighborhoods
Garretts Realty Group can help you find your new dream condo. To improve your results consider adjusting your Louisville KY real estate search results, try sorting by new listings first, sort by price, or even change the property type. If you need additional information, one of our top Louisville Realtors® can help you find the perfect property.
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