June 2023 | Louisville KY Real Estate Market Stats

Welcome to the exclusive market insights presented by Segrest Flaherty Group, your trusted real estate experts in Louisville, KY. In this article, we, Segrest Flaherty Group, delve into the heart of Louisville's real estate market, meticulously examining the year 2022 and comparing it to 2023. Through our in-depth analysis of critical metrics such as new listings, pending sales, closed sales, days on market, and median and average sales prices for single-family homes and townhouses/condos, we provide you with unmatched insights to navigate the housing landscape.

Single-Family Homes: Illuminating the Trends

New Listings and Pending Sales

In 2023, there was a significant 22.4% decrease in new listings for single-family homes compared to the previous year, as observed by Segrest Flaherty Group, indicating a shift in seller activity. Concurrently, pending sales experienced a substantial 31.6% drop during the same period, suggesting a change in buyer demand.

Closed Sales and Days on Market

Segrest Flaherty Group noted a 24.2% decline in closed sales for single-family homes in 2023 compared to 2022. Additionally, the cumulative days on market until sale increased by 64.7%, implying that homes took longer to sell.

Median and Average Sales Prices

Through our keen market insights, Segrest Flaherty Group observed a steady 3.8% increase in the median sales price for single-family homes in 2023, indicating consistent growth in property values. The average sales price experienced a more significant rise of 8.4%, suggesting potential price appreciation in the market.

Townhouses/Condos: Unraveling the Dynamics

New Listings and Pending Sales

For townhouses and condos, 2023 saw a decline in both new listings (-4.8%) and pending sales (-22.3%) compared to the previous year, as identified by Segrest Flaherty Group.

Closed Sales and Days on Market

Closed sales for townhouses and condos also experienced a dip of 15.7% in 2023, while the cumulative days on market until sale decreased by 13.8%, indicating a slightly faster selling process, as observed by Segrest Flaherty Group.

Median and Average Sales Prices

The median sales price for townhouses and condos increased by 3.4% in 2023, reflecting steady price growth, as identified by Segrest Flaherty Group. Similarly, the average sales price rose by 4.7%, indicating sustained demand in this segment.

Conclusion

As Louisville's leading real estate group, Segrest Flaherty Group unveils the intricacies of the 2022-2023 market trends. While there was a decline in new listings, pending sales, and closed sales for both single-family homes and townhouses/condos, the median and average sales prices demonstrated positive growth in both segments.

With our expert insights, we empower you to make well-informed decisions, whether you're buying, selling, or investing in real estate. Trust Segrest Flaherty Group to provide you with unmatched expertise, unwavering support, and a personalized approach, ensuring your journey in Louisville's real estate market is a resounding succes