In Louisville, the price gains have been distributed fairly evenly across neighborhoods, according to association data for the first six months of the year, compared to the same period in 2014.
Shelby County (median price $175,000), the Iroquois Park / Auburndale / Fairdale area ($105,900) and the portion of Oldham County south of I-71 ($249,500) saw the biggest price gains in that six-month period:
Still, it might take several more years of rising prices for people who bought before the downturn to feel they can sell for enough to be “made whole,” Parks said. She noted that the Louisville market didn’t turn around until the end of 2011.
Stapleton, the buyer of the Hikes Point house, owned a home years ago in eastern Kentucky and was a little “gun shy” about once again taking on the responsibility – lawn mowing, maintenance – that comes with owning.
But with the apartment market tightening, the rent on her two-bedroom unit near Oxmoor Center had “steadily gone up and up” to about $1,200 a month – whereas she expects her mortgage to be about $780 a month even with a low down-payment of 3.5 percent.
Not all renters can easily make that same transition back to owning.