Market Conditions

2023 Housing Market Update for Louisville, Kentucky

The Louisville housing market is experiencing significant growth in 2023, with a strong demand for homes and a limited supply driving prices up. This trend is expected to continue throughout the year, with experts forecasting a continued increase in home values.

According to data from the Louisville Association of Realtors, the median home price in the city has increased by 9.6% year-over-year, from $206,000 in 2022 to $225,700 in 2023. This is a significant jump, and it's largely driven by the tight inventory of homes available for sale. As of February 2023, there were only 2,028 homes for sale in the city, which is down 33% from the same time last year.

The low inventory of homes for sale has created a competitive market for buyers, with many homes receiving multiple offers and selling quickly....