If you’re a homeowner in the Highlands then you’re most likely aware that Highlands homes are hot items and, when priced correctly, should never sit on the market for longer than a week or two. Are you also aware that Germantown homes have the same capability? Within close proximity to the Highlands and the University of Louisville, Germantown has a convenient location at a much more reasonable price than the surrounding areas. Germantown has come a long way in the last ten years, but the biggest difference has been realized in the last two years, and it’s obvious when you see how quickly the homes are selling.
From Experience
In the last month, The Thomas Group at Keller Williams Realty Louisville East listed two Germantown homes for sale: one on Parkway Dr, and the other on Harrison Ave. With proper presentation and a comprehensive pricing strategy, we were able to sell Harrison Ave after being on the market only 3 days, and Parkway Dr after being on the market only 16 days.
Statistically Speaking
The chart below will explain a lot. Notice that even after the market crashed, Germantown never really lost a ton of value. Also notice that in 2013 home values in the 40217 zip code landed above the height of the market prior to the crash. So far this year we have seen Germantown home values explode! All data in this chart came from the Greater Louisville MLS, and reflects single family home sales in the 40217 zip code. Note: Avg DOM = Average Days on Market
| Year | # of Sales | Avg DOM | Avg List | Median Sold | Avg Sold |
| 2004 | 217 | 66 | $101,923 | $96,900 | $98,879 |
| 2005 | 241 | 72 | $106,730 | $107,000 | $104,108 |
| 2006 | 253 | 87 | $108,010 | $107,500 | $105,186 |
| 2007 | 245 | 77 | $113,189 | $112,000 | $110,823 |
| 2008 | 178 | 76 | $111,087 | $113,000 | $108,376 |
| 2009 | 209 | 72 | $109,131 | $109,900 | $105,803 |
| 2010 | 175 | 68 | $110,516 | $117,000 | $106,226 |
| 2011 | 171 | 96 | $111,351 | $113,500 | $105,849 |
| 2012 | 221 | 102 | $112,719 | $115,000 | $108,012 |
| 2013 | 223 | 70 | $116,416 | $117,500 | $112,151 |
| 2014 (Jan-Jul) | 120 | 43 | $129,938 | $130,000 | $126,880 |
So now I ask you a question… Why is your Germantown home still sitting on the market?
If you have questions about selling your Louisville home, and/or buying a new Louisville home I would love to speak with you to see if we can work together – 502.509.9278 – justin@metrolouisvillemls.net
View all Louisville Homes for Sale at http://www.louisvillehomeplace.com
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