This Kentucky city ranks nationally for real estate market, but the state isn't doing so hot

Marina Johnson, Louisville Courier Journal
·2 min read

A recent study revealed this Kentucky city as a top ten real estate market in the U.S., yet the state as a whole seems to be struggling.

According to a study from Construction Coverage, Louisville ranked No. 8 nationally for large cities with the best real estate market. However, Kentucky ranked as one of the worst 15 states for real estate markets.

What large cities have the best real estate markets?

  • No. 1: San Jose, CA with a score of 82.7.

  • No. 2: Oakland, CA with a score of 73.2.

  • No. 3: San Diego, CA with a score of 68.4.

  • No. 4: Virginia Beach, VA with a score of 66.8.

  • No. 5: Long Beach, CA with a score of 66.4.

  • No. 6: Boston, MA with a score of 64.6.

  • No. 7: Omaha, NE with a score of 63.1.

  • No. 8: Louisville, KY with a score of 61.6.

  • No. 9: Columbus, OH with a score of 61.0.

  • No. 10: Sacramento, CA with a score of 59.0.

What states have the worst real estate market?

  • No. 1: Louisiana with a score of 11.2.

  • No. 2: Idaho with a score of 15.4.

  • No. 3: Texas with a score of 16.2.

  • No. 4: Montana with a score of 22.5.

  • No. 5: Florida with a score of 23.3.

  • No. 6: Mississippi with a score of 23.8.

  • No. 7: Arizona with a score of 24.2.

  • No. 8: South Carolina with a score of 24.6.

  • No. 9: Tennessee with a score of 25.4.

  • No. 10: Alabama with a score of 26.3.

  • No. 11: New Mexico with a score of 30.8.

  • No. 12: Nevada with a score of 31.3.

  • No. 13: Utah with a score of 31.7.

  • No. 14: Kansas with a score of 35.0.

  • No. 15: Kentucky with a score of 37.5.

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How was the study conducted?

The researchers evaluated multiple indicators of various markets to conduct the study. The five factors were the change in median sale price from 2022-2023, the number of homes sold above the asking price in 2023, the median number of days on the market in 2023, the average sale-to-list percentage in 2023 and the number of listings with price drops in 2023.

The data, evaluated from Redfin’s Data Center, was weighed equally by category and averaged out of a score of 100. Small, midsize and large cities were grouped by population size, with large cities having 350,000 or more people.

This article originally appeared on Louisville Courier Journal: Louisville ranks as a top 10 real estate market, but Kentucky falls behind