Louisville, KY Real Estate & Homes for Sale | realtor.com® (2024)

FAQs

How much do realtors make in Louisville Ky? ›

As of Jul 21, 2024, the average annual pay for a Realtor in Louisville is $96,887 a year. Just in case you need a simple salary calculator, that works out to be approximately $46.58 an hour. This is the equivalent of $1,863/week or $8,073/month.

Overall, Louisville's robust economy, diverse attractions, and growing population make it an excellent market for real estate investors interested in both long-term and short-term rental properties.

The highest-paying states for real estate brokers

According to GlassDoor, the top five states with the highest real estate broker salaries are New York, California, Nevada, Iowa, and Arizona. Commissions can vary based on city, market, property type, sales volume, and experience levels.

Louisville Housing Market Trends

In June 2024, Louisville home prices were up 4.2% compared to last year, selling for a median price of $261K. On average, homes in Louisville sell after 21 days on the market compared to 19 days last year. There were 758 homes sold in June this year, down from 845 last year.

Short-term gains, from assets owned for one year or less, are taxed at the ordinary income tax rate. Long-term gains, from assets held for more than a year, are taxed at a lower, preferential rate. In Kentucky, the state imposes a flat tax rate of 5% on capital gains.

Both the buyer and seller pay certain closing costs at the end of the real estate transaction in Kentucky. The seller shells out a higher monetary amount as closing costs as they pay the REALTOR commission. Other fees, like documentation charges, transfer fees, etc., are paid by the buyer.

In Kentucky, home sellers typically pay real estate commissions, which are usually included in the seller closing costs. A buyer pays only for the home and their own closing expenses. ✍️ Important Note: A recent lawsuit challenging the National Association of Realtors (NAR) on commission practices has been settled.

How much can I make as a realtor in Kentucky? ›

Real Estate Agent Salary in Kentucky. $52,100 is the 25th percentile. Salaries below this are outliers. $86,900 is the 75th percentile.

What percent commission do most real estate agents charge? The typical commission under the current model has been somewhere between 5 and 6 percent of a home's purchase price, which is then split evenly between the agent representing the buyer and the agent representing the seller.

To earn your real estate license in Kentucky, you must be at least 18 years old, complete 96 hours of approved education, complete a background check, pass the Kentucky salesperson licensing exam, apply for licensure, and secure employment with a sponsoring broker.

Applicants for the Sales Associate License must also:

Have completed either six (6) credit hours in real estate courses from an accredited college or ninety-six (96) classroom hours in real estate classes from an approved proprietary school; and. Take and pass the Kentucky Sales Associate exam.