And the band marches on!
Now that we’ve completed our third edition for this our Springhurst home sales report, it’s clear I should have been doing things this way all along. Getting hyper-local is great and all, but when a month only has a couple of homes sell in a given neighborhood, how interesting can that be? Even if you live here, like I do!
So let’s jump right in and see how the second quarter of 2016 performed for real estate in Springhurst, Louisville KY.
Springhurst Home Sales
In this report, there were 14 homes sold during April through June in 2016. That’s one more than the same quarter in 2015. Not exactly rapid growth, but grown just the same.
It appears our real estate market this year will be very similar to what we experienced last year, at least in terms of sales volume.
Springhurst Home Values
Now prices? That’s another story.
While prices moved higher for 2Q in 2015, they actually dropped in Springhurst this year. The average sale prices of homes sold during 2Q in 2016 was $330,591. That’s a drop of 8.2%!
Now, we can’t apply these home sale prices as representative of the Springhurst neighborhood as a whole, give the sample size is so small. I would expect annual home appreciation for our neighborhood to be 4.5% to 5% once the year is complete. This better mimics our city as a whole.
Here in the raw data for 2Q:
Number of Homes Sold: 14
Average Sale Price: $330,591
If you have any questions about real estate in Springhurst, there’s no greater expert in the city than myself and I’m always happy to help!