A recent client of mine was interested, and eventually bought, in the southeast Louisville neighborhood of Dutch Creek. With just over 240 homes, it accounts for only a small percentage of all the detached housing in the city, and inventory in general has been tight. From 2009 - 2012, 9, 10, 7, and 9 homes have sold per year, respectively (source: IRES). If you're a prospective buyer looking in this area, this 3-4% availability can be frustrating. These statistics don't count For Sale By Owner properties, so if you or your agent are focused enough to drive the area regularly, you can increase your chances. (BTW, if your agent is too busy to do that for you, it may be time to reconsider your working relationship.)
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| The Dutch Creek Neighborhood |
Built in the early 80s, the homes are at various levels of updating and offer mostly bilevel and trilevel floorplans with a few 2-stories and ranches sprinkled in. With several parks, the Warembourg open space and Coal Creek Trail just steps away, this area is a hot entry level neighborhood for Louisville. If you're downsizing, you might be looking for some of these 2 bed/2 bath or 3 bed/1 bath layouts that also keep you close to the downtown area.
This year, only 7 properties have been marketed through the MLS, and none of those have had to be withdrawn or expired. Sales prices ranged from $298,500 for 1256sqft to $360,000 for 2016sqft. The average days to offer was 10, and, on average, the homes that have closed already did so for 100% of the asking price due to the amount of buyer competition. The market has cooled a little bit, but with only one Dutch Creek home currently available and already under contract, any seller thinking about listing his home should still find himself in a good market position. If you'd like a free market analysis on your home to see if now is the time to sell, don't hesitate to contact me.
I would love to help you with your real estate journey.
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