Louisville Indian Hills Real Estate | Market Update

As part of a discussion I had recently with a seller in the Prospect area, I was discussing the state of the market, and how higher end homes in general were having a tougher time selling, in general. They didn't believe me, and said that they thought higher end homes in St. Matthews would sell better than similar priced homes in Prospect. So... I got to work, nothing like a challenge to motivate me to play with numbers.

One of the nicer, and more expensive subdivisions in Louisville, and St. Matthews in particular, is Indian Hills. So I decided to check and see how many homes have sold in the first two months of 2010 in Indian Hills. According to the local board, 0 homes have sold, in January or February. There are 26 homes for sale in Indian Hills, but no sales. However, we have had three expireds, three canceleds and one withdrawn, so seven listings have left the market, while 11 new listings have come on, but again, no sales. The average list price of Indian Hills homes for sale is $917,715, which I think proves my point nicely. I don't care which part of town you live in right now, high end homes are not moving as well as they used to.

Case closed. Thank you.