Jefferson County PVA, Tony Lindauer, Releases Annual Report Of Home Sales And Trend Data

Thursday, May 20th, 2010 PVA News

LOUISVILLE, Ky. – Tony Lindauer, Jefferson County PVA, released the annual report, 2010 State of the Real Estate for Jefferson County, today in a news conference at 1500 Bank Street in Louisville’s Portland neighborhood. Portland is one of the areas hardest hit by the foreclosure crisis.

Although Louisville has been somewhat insulated by the mortgage crisis, some areas of Louisville have seen an uptick in foreclosures resulting in vacant structures.

“The state of the Louisville market is good and getting better, but we see some rough patches,” said Lindauer. “The Portland, Shawnee and Shelby Park, Russell and California neighborhoods are facing some tough challenges.”

“When a neighborhood doesn’t look good, its residents don’t feel good,” said Lindauer. “We’re hoping our announcement of this data will create a launch pad for community involvement and a rallying of sorts of its residents and those who can be advocates for these areas.”

The annual reports highlights include:
  • Louisville home sales remain flat but a few percentage points higher than her surrounding peer cities St. Louis, Cincinnati and Indianapolis
  • Foreclosures are concentrated in the Portland, Shawnee and Shelby Park neighborhoods as well as other West End neighborhoods
  • Home starts were flat and remain there except for what seems like a small increase over last year
  • Home starts range in the $350,000 to $500,000 compared to $500,000+ from last year
  • Forbes.com listed Louisville as the second-best housing market based primarily on the stability of the market

The Jefferson County Property Valuation Administrator is an assessing entity of The Commonwealth of Kentucky whose sole purpose is to value residential, commercial automotive and tangible property. Located in Louisville, the PVA, elected every four years, is Tony Lindauer.

For more information, contact the Property Valuation Administrator at 502.574.6380 or visit www.jeffersonpva.ky.gov.

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Office of the Jefferson County PVA
Fiscal Court Building
531 Court Place, Suite 504
Louisville KY, 40202-3311

Phone (502) 574-6380
Fax (502) 574-6108
pva@jeffersonpva.ky.gov