It seems like the 2016 Homearama at Norton Commons and River Crest just wrapped up, but local Realtors at Lenihan Sotheby’s International Realty are already looking ahead to the 2017 Homearama at Catalpa Farms and Poplar Woods in Louisville and Goshen, respectively. This summer, people in the market for a new home will have the opportunity to walk through two very different neighborhoods, in two very different parts of town, at two different price points, says broker Jon Mand.
Catalpa Farms is a new conservation subdivision located off Shakes Run on Eastwood-Fisherville Road, south of US-60 and Eastwood. Eventually there will be 566 home sites in the development, so it’s very sizable. The first section features a 22-lot cul-de-sac. Signature Green Properties hopes to have 10 to 15 homes sold for Homearama. “It’s only the beginning of a multi-year project,” Mand explains. Nine months out, they’ve got sewers, curbs, and roads feeding in. The week before Christmas, the neighborhood was “put to record,” as they say, with the county clerk’s office issuing approvals and building permits to start breaking ground.
If you want to be part of this exciting new project, you don’t have to wait. Builders are constructing spec houses. Individuals are picking out builders and buying lots to participate in Homearama as well. “The lot value and the size of the house will drive the final cost, but it’s conceivable that everything we have – even in the Homearama section – should be under $400,000 price point – very affordable,” says Mand.
The expansion of inventory at that price point is exciting for Louisville buyers, Mand explains. Through the end of October this year, the overall market had 1,250 transactions in that $300-400K range. By the time Homearama rolls around, Section One will be complete and two additional sections will be put to record, with lots available for sale to accommodate growing interest following the Homearama show.