Louisville Home Prices Drop Despite Tax Credit

recent article in the Louisville Courier-Journal claims that the selling price of Louisville homes dropped again in April according to figures provided by the Greater Louisville Association of Realtors. They report that the median selling price of Louisville homes fell by 2.3 percent in April 2009 and is down by 6 percent for the first four months of the year. Members of the group report that they sold 787 homes in the Louisville metropolitan area in April which represents a 22 percent drop from the same period last year. The number of days that Louisville homes for sale remained on the market before selling increased to an average of 136. But the association reports increasing interest recently and members are hopeful that the federal tax credit of up to $8000 for first-time home buyers will inspire wary buyers to get off the fence and take advantage of the tax credit. But the drop in Louisville home selling prices is not as steep as the drop in prices nationwide. The National Association of Realtors claim that in the first quarter of the year, the median selling price nationwide dropped 13.8 percent over the same time period the previous year to $169,900 for an existing single-family home. The association claims that about half of all home sales across the country were deeply discounted foreclosure or distressed properties which pulled down the median selling price across the country. The median selling price for April 2009 in the Louisville real estate market was $129,000. If you’re looking for Louisville foreclosures, Louisville homes for sale, or any kind of Louisville real estate, visit LouisvilleProperties.com—the area’s premier source for information, services, and up-to-date listings of Louisville homes, condos, multi-family residences and real estate.

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James Powell

Jim Powell has over 20 years of experience buying and selling luxury real estate in Louisville, KY and Managing over hundreds or rental properties across the city.
Jim Powell (License #191501)

Lauren Ghanavatian

Lauren Ghanavatian attended Assumption High School and the University of Louisville. Growing up in Louisville gave her a sense of the unique and diverse communities this city has to offer.

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