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Real Estate Louisville Ky - Louisville, KY real estate market overview

kentucky price median sales

While many housing markets across the country have had gone through horrible downturns, other markets have actually faired quite well over the past few years.  One market that has faired well over the past few years is the Louisville, Kentucky real estate market.  During the housing boom, while prices in the Sunbelt states, such as Arizona, Nevada, and California, experienced drastic housing price increases, the median sales in the Louisville, Kentucky real estate market was quite steady and was around $140,000.
 
Since the median sales price in the Louisville, Kentucky real estate market never ballooned like it did in some areas of the country, the Louisville, Kentucky real estate market did not experience the drastic real estate bust.  Since early 2007, when many housing markets turned for the worse, the median sales price in the Louisville, Kentucky real estate market maintained around the $140,000 price point.
 
One reason why the median sales price in the Louisville, Kentucky real estate market has not declined is because the rate of foreclosure in Louisville is not that high.  In February 2010, one in every 890 homes in the Louisville, Kentucky real estate market received a notice of default.  While this is a historically high rate of default for the Louisville, Kentucky real estate market, it is much lower than many other areas of the country. 
 
While the rate of foreclosure in the Louisville, Kentucky real estate market is low, the foreclosed homes listed on the open market do pose some threat to the median sales price in Louisville.  The median listed asking price for a foreclosed home in the Louisville, Kentucky real estate market is $90,000, which is far less than the city-wide median sales price. 

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