Available Homes for Sale in Louisville KY

When someone says “available homes for sale” what they’re talking about is active listings. The fancy term for that is housing inventory. They all mean the same thing. And to put it bluntly, the available homes for sale in Louisville KY is dangerously limited.

Photo of a home in Clifton Louisville Kentucky by Tre Pryor
This cute home in Clifton represents the kind of property that’s becoming increasingly difficult to find. | Photo by Tre Pryor

It’s almost always to put things in picture form to better communicate the degree to where Louisville’s housing inventory is currently. Even better, let’s break it up into price tiers. After all, if you’re hunting in the $200,000 to $300,000 price range, you don’t really care what’s happening with half a million dollar homes.

Let’s get started!

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Local NBC Affiliate Interviews Tre Pryor for Housing Story

WAVE3 Logo

Third times the charm? I’m not sure, I’ll let you be the judge.

A past client asked me to be on camera and share some Louisville real estate knowledge. This piece by Wave3 anchor David Mattingly is looking at our housing shortage.

Affordable houses in Louisville hard to find

As is typically the case, most of the interview doesn’t make it on air but I was happy to help. At the same time… I hate seeing myself on screen. How does my wife put up with me?

2018 Best Kentucky Counties for Real Estate

Once a year I run the numbers to see which are the best Kentucky counties for real estate. I do this by looking at the average sale prices over time for counties that are in and around Louisville, Kentucky. Sorry, rest of the state!

So it’s that time of year again. The numbers have been crunched. The charts prepared. Let’s dig in!

Louisville Kentucky Counties

I know, I know… this article title is a bit misleading. Ok, maybe it’s a lot misleading. That’s on me. I’ve been tracking this data since the early 2000’s and it would be almost impossible for me to gather data on the other 115 counties. That’s right, Kentucky has 120 counties. Crazy huh? Only Texas, Georgia and Virginia have more.

Anyway, back to the counties in and around Louisville. Jefferson County is basically Louisville. (For specific real estate data about the different MLS areas within Jefferson, please visit these Louisville Housing Reports.) Then Oldham is to the northeast, Shelby is due east, Spencer is southeast and finally, Bullitt is straight south. Now that we have the preliminaries out of the way, here are the stats!

Home Prices by County in Louisville, KY
With this graph, it’s easy to see how home prices in these Kentucky counties have performed from 2003 through 2018.

For most of these, have been trending higher from 2011 or so. During this past year, 4 of the 5 moved sharply higher. Here are the raw numbers.

2017 2018 Change
Jefferson $199,947 $211,057 5.56%
Oldham $316,941 $350,971 10.74%
Bullitt $182,383 $194,517 6.65%
Shelby $243,463 $223,585 -8.16%
Spencer $223,654 $247,170 10.51%

Even though Oldham Counties has some of the expensive real estate in Kentucky, their numbers are moving higher. Largely due to more new construction which will always push values.

Only Shelby County saw the average sale price decrease in the past 12 months. There could be some good value to be had by savvy home buyers.

Also note, the values I compared in this were the average sale price for each county during the month of May. Then I compared it to the previous year’s May. Nothing can be noted by homes that don’t sell other than traditional, annual appreciation… which is an article for another time.

Now let’s look at how the sales volumes break down by county.

Kentucky County Sales Totals

Louisville County Home Sales pie chart
Far more Jefferson County homes exchange hands than all of its neighboring counties combined.

Not much surprise here. When it comes to the best Kentucky counties for real estate, you’ll find far more options in the cities than you will in the country. When you consider that only 21 homes were sold in Spencer County this may, it just proves this point. While more than 1,100 exchanged hands during the same time frame.

To answer our original question, you’ll find the best selection of homes in Jefferson County. You’ll find the nicest homes in Oldham County. And you’ll most likely find the best bargains in Bullitt. Not always but typically that’s the case.

If you’d like more specific help, I’m one of the top 3 rated Realtors in Lousiville Kentucky. I’ve love to help you reach your goals just drop me a line.

Do I Need a Realtor When I’m Building a House?

Real estate can be a tricky thing. There aren’t any classes about it in most schools but it’s something most Americans are interested in. In fact, 84% of Americans see home ownership as a good investment even though the percentage of ownership has been declining since 2005. So how is building a house different than buying an existing home?

Photo of a couple looking over house plans - Building a house
Dreaming about building your dream house?

When something is as big as “buying a house” you don’t want to mess it up. There are a good number of snags that could really haunt you for years to come.

What about building a house? Isn’t that more straight-forward? After all, the builder is going to make it brand new. What could go wrong?

Well, what if I said, “It costs you nothing to have a Realtor.” Yes, that’s true. Whether you’re buying an existing home or building a house, buyers never pay commissions. Those are paid by the seller or the builder.  It’s just the way it is.

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Relocating to Kentucky: What You Need to Know

Moving is a big deal. Moving to a new state is an even bigger deal! Relocating to Kentucky doesn’t have to be a major problem. With some great advice and proper planning, your move to Kentucky could be the best thing that ever happened to you!

Photo of the Louisville walking bridge by Tre Pryor - Relocating to Kentucky

First, I’ve recently updated my Top 10 Tips for Relocating to Louisville. If you’re moving to Louisville, Kentucky, great! I’m always happy to help. Looking at another city in Kentucky? Just let me know, I might know a great agent who’s an expert in that city.

This article isn’t about specific tips about relocating, like the one linked above. It’s about the bigger picture. It’s about why relocating to Kentucky is a wonderful thing. Once you’ve read it, I believe you’ll feel the same thing.

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Top 5 Spring Home Improvement Projects

Photo of a beautiful deck Photo by Tre Pryor
Spring is the perfect time to improve your deck! Once Summer arrives, you’ll be glad you did.

Spring is a great time of the year. If you’re a homeowner, you already know that there will be some jobs waiting for you once the harsh Winter weather is past.

These “jobs” are very important. Some are simply maintenance that you’ve always known your home needs. Some up updates or home improvement projects that fit nicely in the Spring season. Either way, you’ll be glad you took the time and money to tackle than to protect or even enhance the value of your most valuable investment—your home.

As we leave colder temps in the rear-view mirror, here are the top five spring home improvement projects that will help you and your home.

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Most Expensive Homes in Louisville Kentucky

It’s that time again! Each year I track the most expensive homes in Louisville Kentucky. These are homes that are sold, not houses that have stayed with their current owners. If that were the case, it’d be the same homes each time and that’s no fun.

Last year we saw properties from the $1.32 million house on Belknap Beach Road all the way up to the 170 acres tract of land that sold for $2,150,000. I’m wondering if we should include land in our survey. What do you think? No? Ok, sounds good.

Going forward, no land, only the cream of the crop, most expensive houses… wait, what about condos? I mean, if one of these penthouse apartments in Waterfront Park Place or The George sold for more than a million, we’d want to see that, right? Yes? Great! I love that we’re all on the same page.

Let’s go!

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Picking March Madness Brackets: Choker’s Index 2018

Photo of Iowa St basketball players
Iowa State will not be in this year’s NCAA tournament (dead last in the Big 12) but if they were, you’d be wise to not pick them in your brackets.

It started out as a simple experiment. Which NCAA men’s basketball teams historically choked the most. It has now become a yearly obsession. Picking March Madness brackets is now an annual ritual—one that comes with fierce emotions. These emotions strongly pull most fans to move their team forward in the tournament while X’ing off the teams they hate.

Don’t let emotions rule you. You’re better than that! Use data instead.

With that in mind, I present the 2018 Edition of the Choker’s Index. What is the Choker’s Index you say? Well, I’m glad you asked.

The Choker’s Index began in 2013. Each year after I added a bit more.  Last year I published this piece right here on TrePryor.com, even though college basketball is a far cry from Louisville real estate. I say, “Adios!” to convention.

This year, I’ve updated all the data that stretches back to the beginning of the expanded NCAA field in 1985. Here are the criteria:

  • I’m only looking at schools who’ve made the tournament at least 15 years. Here are the 11 teams I added this year: Georgia Tech, Iowa, Iowa State, LSU, Marquette, N. Carolina State, Stanford, Utah, Virginia, W. Virginia and Wake Forest.
  • The Index is weighted. Opening rounds games count the most, and as the tournament progresses, the factor is reduced slightly each round.
  • When you are a higher seed and lose that’s the only thing that matters. Losing to a better team doesn’t affect the team’s Choker’s Index.
  • The bigger the defeat, the more it costs you! If you’re the #1 seed and you fall to the #2 in the fourth round, that only costs you a half point. No biggie. But when the #15 knocks out the #2 in the opening round, that’s 13 points!

Biggest Upsets in NCAA Tournament History

Speaking of which, here are the biggest upsets (choke jobs) in the history of the NCAA Tournament! I’ve linked up video highlights on those game scores. Enjoy!

Year Choker Underdog Game
1991 Syracuse Richmond 69-73
1993 Arizona Santa Clara 61-64
1997 South Carolina Coppin State 78-65
2001 Iowa State Hampton 57-58
2012 Missouri Norfolk State 84-96
2012 Duke Lehigh 70-75
2013 Georgetown Florida Gulf Coast 68-78
2016 Michigan State Middle Tennessee State 81-90

 

Choker’s in the 2017 NCAA Tournament

So before we get to the updated index, let’s see who laid down last year. Who wet the bed? Which teams simply laid an egg?

As it turns out, 2017 wasn’t a big year for upsets with just 7. Seeds held strong, even though all the experts thought the tournament was wide open. Go figure.

But here’s who did choke last year:

  1. Arizona (2) lost to Xavier (11) in the third round: -6
  2. Villanova (1) lost to Wisconsin (8) in the second round: -5.9
  3. Maryland (6) lost to Xavier (11) in the first round: -5
  4. Duke (2) lost to S. Carolina (7) in the second round: -4.2
  5. Louisville (2) lost to Michigan (7) in the second round: -4.2
  6. Florida (4) lost to Wisconsin (8) in the third round: -2
  7. Kansas (1) lost to Oregon (3) in the fourth round: -1

Putting all those together only results in a Choker Index of 28.3 for the year. Lame! It’s just a little better than the lowest year on record—a -19.2 index points in 2007.

We want more upsets. How about this year we see another year like 2001 where the index sky-rocketed up to 78.12! Let’s go underdogs.

The 2018 Choker’s Index

Ok, enough of the preliminaries, let’s get the chart so you can know who not to select when you pick March Madness brackets this year. This year I kept the negative sign so that we can better see that it’s a problem a large number next to your favorite team’s name. The Choker’s Index is the average

2018 Choker's Index
Here’s the updated Choker’s Index for 2018 so you can pick your March Madness brackets with confidence.

So we see some newcomers rise to the top of the list. Last year’s report went Missouri, Notre Dame and then UCLA. Now we’ve got Iowa State, Missouri, and West Virginia. It’s crazy because West Virginia doesn’t choke often, just 20% of the time but when they do… look out!

The inverse is Iowa State who only choked 3 games out of their 18 tournament appearances but 2 of those were massive choke jobs.

The average Choker’s Index for all the of teams in this report is -4.07, which is where the red line lives.

It’s really up to you whether to devalue teams that choke more often or those that perform the biggest chokes.

Fun Facts

  • Average Number of Upsets Per Year: 8.82
  • Biggest Upset Year: 2006 (17 Upsets)
  • Average Choker Index Total Per Year: 34.22
  • Largest Choker Index Total: 2001 (78.12 Choker Index Points)

So there you have it. Go forth and win your bracket contest!

5 Tips to Finding the Best Realtor for First Time Home Buyer

Are you a first-time home buyer and you don’t know what to do first? Relax, you’re not alone. You’ve come to the right place. Here are five tips that will help in Best Realtor for First Time Home Buyer.

Photo of Finding the Best Realtor for First Time Home Buyer
The best Realtors for first time home buyers have these five qualities.

Every person is different. Just like every house is different. Agents are the same way. There are some great ones, some terrible ones and a whole bunch of average ones in the middle.

Buying a home can be a tricky situation so don’t try to go it alone. Far better to find an awesome agent who’ll be your on your side throughout the entire process. Don’t worry, with the right Realtor, buying your first time can actually be a great experience.

Let’s dig right in!

#1 The Best Realtors Are Great Teachers

This is especially important for first-time home buyers. First time out, everything is new! At this point, you don’t even know what it is that you don’t know.

Some agents have some excellent experience but when the time comes to communicate that real estate knowledge to their clients, they fall down. It takes a great teacher to share their expert understanding with their buyer clients in a way that they understand and can use.

In the end, the client is the one making the decisions so you need to understand how all the variables work. Top agents teach their clients everything they need to know.

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Almost 30% Gains in Louisville Home Values in Past Decade

A friend of mine shared this story about how California home prices are hitting their highest point recently. As I was reading, I thought, “Yeah, so have we here in Louisville.” Immediately, my next thought was, “I wonder how Louisville Home Values match up?”

Photo of homes in Indian Springs, Louisville Home Values
Louisville home values have changed a great deal in the past decade but maybe not the way you might have imagined. | Photo: Tre Pryor

Well… that’s the easy part.

First, I grabbed the chart from the California story.

California home prices chart
As you can see, this chart goes back to 2007, a few years before the housing crisis.

Louisville Home Values: 2007-2017

Then, I went to collect all the same data for Louisville, Kentucky. Going a step further, I wanted to see both Average Home Sale Prices, as well as, Median Home Prices. Why not, right?

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