Building Costs Per Square Foot in the City of Louisville (KY), USA

Residential Construction Market Analysis in the City of Louisville (KY), USA

Newly Built House in Louisville 7 Manslick Commons Drive KY40219 – 3 Bedrooms and 3 Baths with 2 Attached Garages on Gross Floor Area 1,676 sqft – Built in 2022 – Price $299,900

Newly Built House in Louisville 7 Manslick Commons Drive KY40219 – 3 Bedrooms and 3 Baths with 2 Attached Garages on Gross Floor Area 1,676 sqft – Built in 2022 – Price $299,900

Building costs are 2% above the national average in the City of Louisville in Kentucky. There are times when it seems that the dream of having your own home is the most difficult to achieve. Fortunately, the southern states of the United States tend to have lower prices, so there is a greater chance of buying a good property there at a good price.

In this article, we will be dedicated to discussing the real estate market of Louisville, Kentucky. This city has seen impressive growth in the last 20 years, so you will have the advantages of a big city with the convenience of a small town.

Louisville (KY) Construction Outlook

Louisville may not be the capital of Kentucky (that title goes to Frankfort), however, it is its most populous city and one of the favorites for all the people who are looking to move to that state. Even people who live in other parts of Kentucky choose to move to Louisville because of its job opportunities, the good condition of its schools, and the choice of available hospitals.

This city in the southern United States has a fairly varied construction outlook. You can find modern houses, others with an older style, and it also has buildings similar to the skyscrapers that you would find in another big city.

As for the buildings, most were built between the 80s and 90s, so they retain that aesthetic. In any case, they made some new ones in the last decade that are glazed, so they are quite modern and with the style of the current architecture.

Townhouses are popular in Louisville and are often made of brick and mortar. Prefabricated house constructions are often avoided, especially after the 2021 tornado that destroyed a large part of them. In any case, you can come across some wooden houses or other more precarious ones in the poorest areas of the city.

Louisville (KY) Housing Market Analysis and Forecast

While property values ​​in Louisville are up from last year, that doesn’t mean it’s a good real estate market for investors. If what you want is to buy a house or apartment to live in, then yes, Louisville is a good option, but not so much for people who want to enter the market.

Property values ​​overall increased by 5% over October 2021, which is a good number considering the region Louisville is in. However, the number of property sales is at an all-time low. This month was the one with the lowest number of property sales in the last 30 years, which is worrying for people who invest in the real estate market.

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