The WeSellLouisville.com Louisville Real Estate Blog

Cherokee Park

Cherokee Park in Louisville

Are you in search of a great park in the heart of Louisville? Then look no further! We have a great one for you!

Cherokee Park is a 409 acre park that can be found in the neighborhood The Highlands neighborhood of Eastern Louisville. Cherokee Park is listed on the national historic register. However, what's really special about Cherokee park is that it is one of the only complete park systems within a major city designed by Fredrick Law Olmsted. The other cities with such parks are Boston, New York and Milwaukee.  The park is quite picturesque with its rolling hills, open meadows and woodlands of the Beargrass Creek Valley.

Cherokee Park

The main feature of Cherokee Park is its 2.4 mile Scenic Loop with definitive lanes for vehicle traffic and recreational users.  The secret to navigating the park while on the Scenic Loops is to keep turning left to stay in the park and right to exit it. All traffic moves one way. Cherokee Park’s trail sections are separated by short road segments but can all be linked together to form the Scenic Loop. Trails in this park are best suited to intermediate level riders as there are some technical sections due to the combination of narrow tread width, roots, rocks and short steep climbs.  These trails are great for training and improving your bike skills, it’s been said if you can...

WOW...March 2015 Louisville Home Sales on fire!

Interest ratesInterest rates remain low and that one single fact has buyers out right now looking for their next home. The new numbers out for Louisville home sales in March 2015 are great if you're a seller but  scary if you're a buyer. The number of homes marked pending is up, the number of homes sold is up but the problem remains the number of listings actively on the market is down, way down!

Anyone thinking of selling his or her home should consider putting it on the market sooner than later this year.  Here are three reasons why:

  1. Interest rates remain low and buyers are afraid they're going up. They're out in droves looking for a perfect home now.
  2. There are 16.1% fewer “Active” homes on the market now than a year ago in (at this time) so listing now means you'll get more looks and sell for more money.
  3. There are 7.6% fewer new listings that came on the market in March 2015 compared to March a year ago.

To look at the overall market conditions let's review the absorption rate  (the absorption rate is simply this, if no homes went on the market after today, how long would it take for the existing homes to be bought). The National Association of realtors says a six-month or more supply of homes is a buyers market. A 5 to 6 month supply of homes is a neutral market meaning its neither a buyer or seller's market. A five-month supply (or less) of homes is equal to a sellers market. The newest numbers for March 2015 show the absorption...

LOUISVILLE Market Trends

Total Properties Listed: 8,702
Month-Over-Month Change: 51.55%
Average Days On Market: 120
Total New Properties Today: 10
Median List Price: $164,900
Month-Over-Month Change: 4.53%