Greater Louisville and Southern Indiana Real Estate Market Update – September 2024

[Rob Bergeron]

The Louisville and Southern Indiana real estate markets have seen notable shifts this year. Despite a slight decrease in total sales (-1.2% compared to 2023), average home prices have risen by 8.5%, with median home prices around $275,000 as of August 2024. This price growth is largely driven by continued low inventory levels, which have kept competition high among buyers, even as average days on market have increased to 36 days​(Nest Realty)​(Garretts Realty).

In Southern Indiana, activity is up with new listings growing by 8.2%, though sales have seen slight declines. With election uncertainty and changing economic conditions, there is potential for further shifts in the market as we move into 2025​(Nest Realty)​(Garretts Realty).

For those considering investing, it's worth noting that Louisville's rental market remains strong, particularly for multifamily properties, where rent prices have increased 5.1% year-over-year, outperforming national averages​(Nest Realty).

Lot's of cool things happening in the area! We are very fortunate to have such a healthy real estate market!