Home sales surge in Portland, Shawnee neighborhoods

Portland, Shawnee neighborhoods see huge increase in home sales
Updated: Mar. 9, 2018 at 8:34 PM EST
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LOUISVILLE, KY (WAVE) - Area codes in Shawnee, Portland, Shively, Russell and Beechmont saw a significant increase in home sales between 2016 and 2017.

Members of the Greater Louisville Association of Realtors reported selling 44% more homes in zip code 40212 during 2017. That area code includes Portland, Russell and Shawnee, neighborhoods in an area of the city residents call the West End.

In 2016, members of the Greater Louisville Association of Realtors sold 100 homes in the area; in 2017, they sold 144.

One real estate broker said her 18 years of experience does not make selling homes in the West End easier.

"When I talk with my buyers, one of the first things they say is 'I don't want to live in the West End'," Realtor Lisa J. Houston said.

When Houston hears rejection of a neighborhood, she encourages the buyers to have an open mind.

"My antenna goes up, because I am very passionate about all the communities in Jefferson county," Houston said.

Houston said a concentration of crimes and vacant houses have deterred people in the past, but developments like the West End YMCA are telling a new story.

"Not all areas are bad locations," Houston said. "You can find pockets in any community."

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Rebound, an economic development group, aims to increase attractive neighborhoods in the area known as the West End. The organization purchases and rehabs vacant and abandoned homes.

"We put roughly $75,000 worth of rehab into each home," Executive Director of Rebound Kevin Dunlap said. "The appraisal for our finish product is any were from $105,000 to $115,000."

Rebound uses federal funds to buy run down properties in neighborhoods like Portland and Shawnee.

"You get more bang for your buck by purchasing the housing stock in West Louisville than any other area of the city," Dunlap said.

In 2017, Rebound sold 10 homes - Dunlap said he expects to sell 12 in 2018.

"New developments play a part in people's desires to move closer to where things are happening," Dunlap said.

It is a small start, but a major accomplishment for an area where Houston says many still have apprehensions.

"You are seeing the home sales on an upsurge," Houston said. "People are beginning to think about these neighborhoods for themselves and are not driven by what other people may tell them about a particular community."

The top five zip codes which had an increase in homes sold in 2017 vs. 2016 were  40212, 40215, 40216, 40243 and 40203, respectively.

A full list of the sales of single family residences and condos in 2017 vs. 2016 in each zip code is below. The information is courtesy of the Greater Louisville Association of Realtors, Inc.. Data is sorted by units sold.



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