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Louisville Land Prices

Posted 04-15-2010 at 06:11 PM by bbkennedy
Updated 06-06-2010 at 02:44 PM by bbkennedy

One of the advantages of living in our city is land, land, land. It's not a big deal if you are moving from a similar size city or smaller one but people who are down sizing metro areas often get a glint in their eyes when the think about realizing long held dreams of buying a home with 'land'.

Land can add considerable cost to a property especially in Jefferson County. This pushes the vast majority of buyers outside Jefferson County and into the outlying areas where it's possible to pick up an acre of ground in a deed restricted subdivision starting at around $20,000.

Consider Heritage Hills in Spencer County. It requires a minimum of 1,700 Sq.Ft. and is near Taylorsville Lake and Tanglewood Golf Course. One acre lots are typically $21,000.

In the Orchards at Plum Creek in Shelby County prices double to $42,000 for a typical 1 acre lot where the minimum size house is 2,000 Sq.Ft.

1 to 2 Acre Lot by County-
  • Bullitt $30k to $65k
  • Jefferson $32k to $350k
  • Oldham $43k to $190k
  • Shelby $20k to $180k
  • Spencer $18k to 50k

Costs within Jefferson County vary considerable depending on which side of town it's on. The south end and southwest are relatively affordable but if you want to live in the east side of town the cheapest seats start at $80,000 and the median price is $208,000 for a +/-1 acre site.

So, that's the skinny on vacant ground. If you don't want to build just remember that those houses you are looking at have built-in 'land' costs and the better the location the higher the underlying cost. That's why a modest 1960's 1.5 story around the park can cost a $100,000 more than a similar house in a less desirable location. For an extreme example think about picking up that modest house and dropping it on the beach in Malibu, CA and you've just created a million dollar property.... you get the point.

For more resources and information about real estate in Louisville & Mt. Washington KY, including MLS & open houses searches, visit www.kennedyvalue.com
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