2016 LouisvilleKY Area Home Sales Up

greater louisville association of realtors

 

Louisville, KY (January 16, 2017) – The Greater Louisville Association of Realtors® (GLAR) reported 2016 sales up 8% compared to 2015, with 17,653 units sold versus 16,337 in 2015. Sales in December 2016 were up 1.3% compared to December 2015, with 1,312 homes and condos sold versus December 2015 with 1,295 units sold. The median price was up 5.2% in 2016 and the average price was 3.0% higher than in 2015.
GLAR releases monthly statistics mid-month to allow for the most accurate and comprehensive reporting possible. Local REALTORS report their residential sales totals to GLAR, and publishing the statistics mid-month allows for the activity that takes place late in the month to be counted. This ensures that the totals reported show the truest depiction of the local housing market.
In Jefferson County, the average price in December 2016 was $196,687 and the median was $160,000. For all MLS areas, the inventory of available properties was 18.8% lower than at the same time last year. In Jefferson County, the inventory of homes and condos for sale was 21.1% lower than December 2015.
greater louisville association of realtors
GLAR President Allison Bartholomew commented that, “Our members continue to see a strong sellers market for entry-level homes and a relatively balanced market for move-up homes. Depending on the area and price range, the luxury home market is slightly in favor of buyers due to the larger relative inventory to choose from.”
NAR President William E. Brown recently commented on FHA’s decision to reduce the mortgage insurance premium rate from 0.85% to 0.60%. “This is a question of simple math,” Brown said. “Every time we cut the cost of mortgage insurance it means more borrowers meet the debt-to-income ratio required to purchase a home. It follows that dropping mortgage insurance premiums today will mean a whole lot more responsible borrowers are suddenly eligible to purchase a home through FHA. That puts more money in the fund to protect taxpayers, and it puts more families in homes so they can live out the American dream.”
All MLS Areas
Dec-15
Dec-16
% Change
Jan. 1- Dec 31, 2015
Jan. 1-Dec 31, 2016
% Change
Houses Sold
1,295
1,312
1.31%
16,337
17,653
8.06%
Averages Selling Price
$198,694
$193,951
-2.39%
$191,132
$196,901
3.02%
Median Selling Price
$159,900
$162,400
1.56%
$155,500
$163,600
5.21%
# of Active Listings Placed into Pending Status During Dec
906
966
6.62%
Active Listings at Dec 15
5178
4205
-18.79%
Jefferson County
Dec-15
Dec-16
% Change
Jan. 1- Dec 31 , 2015
Jan. 1-Dec 31, 2016
% Change
Houses Sold
888
894
0.68%
11299
12064
6.77%
Averages Selling Price
$200,008
$196,687
-1.66%
$190,783
$198,357
3.97%
Median Selling Price
$158,600
$160,000
0.88%
$152,500
$162,000
6.23%
# of Active Listings Placed into Pending Status During Dec
650
673
3.54%
Active Listings atDec 15
3068
2419
-21.15%
Oldham County
Dec-15
Dec-16
% Change
Jan. 1-Dec 31, 2015
Jan. 1- Dec 31, 2016
% Change
Houses Sold
89
83
-6.74%
1052
1108
5.32%
Averages Selling Price
$284,630
$283,904
-0.26%
$291,385
$295,971
1.57%
Median Selling Price
$229,000
$244,000
6.55%
$255,000
$264,000
3.53%
# of Active Listings Placed into Pending Status During Dec
56
44
-21.43%
Active Listings at Dec 15
330
258
-21.82%
Bullitt County
Dec-15
Dec-16
% Change
Jan. 1- Dec 31, 2015
Jan. 1- Dec 31, 2016
% Change
Houses Sold
85
84
-1.18%
1103
1243
12.69%
Averages Selling Price
$166,538
$176,001
5.68%
$167,696
$175,811
4.84%
Median Selling Price
$154,900
$166,298
7.36%
$154,700
$161,400
4.33%
# of Active Listings Placed into Pending Status During Dec
49
62
26.53%
Active Listings at Dec 15
324
292
-9.88%
The Greater Louisville Association of REALTORS® (GLAR) is the “The Voice for Real Estate” in the Greater Louisville Area.  As the local arm of America’s largest trade association, the National Association of REALTORS®, GLAR represents more than 4,000 members involved in all aspects of the residential and commercial real estate industries. For more information, contact President Allison Bartholomew at (502) 893-1900 or CEO Lisa Stephenson at (502) 894-9860.

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