LouisvilleKY home sales looking good

greater louisville association of realtors

Louisville Home Sales Up 12.9% and Median Price Up 3.4% Year-to-Date vs 2015

 
Louisville, KY (May 16, 2016) – The Greater Louisville Association of Realtors® (GLAR) reported April 2016 sales up 4.9% with 1,437 homes and condos sold versus 1,370 last April. Year-to-date, compared with January-April 2015, home sales were up 12.9%. The median price for all areas in January-April 2016 was up 3.4% compared last year, and the average price was consistent with last year. In Jefferson County, the average price in April 2016 was $186,887 and the median was $151,500. For all MLS areas, the inventory of available properties was 21.8% lower than at the same time last year. In Jefferson County, the decreased inventory of homes and condos for sale was even more pronounced at 25.6% lower than April 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.
GLAR President Greg Taylor commented that, “The strong sellers’ market is continuing in Louisville with inventory down over 25% in Jefferson county compared to this time last year. Sellers whose homes are in move-in condition typically receive multiple offers. The median price year-to-date has advanced 3-4% with both low inventory and low mortgage rates.”
The national existing homes sales report for April 2016 is not yet available, but Lawrence Yun, Chief Economist for the National Association of Realtors® commented that March’s pending sales increase signaled a solid beginning to the spring buying season. “Despite supply deficiencies in plenty of areas, contract activity was fairly strong in a majority of markets in March,” he said. “This spring’s surprisingly low mortgage rates are easing some of the affordability pressures potential buyers are experiencing.”
 
 


All MLS Areas
Apr-15
Apr-16
% Change
Jan. 1- April 30, 2015
Jan. 1-April 30, 2016
% Change
Houses Sold
1,370
1,437
4.89%
4,308
4,865
12.93%
Averages Selling Price
$192,112
$186,984
-2.67%
$181,440
$180,801
-0.35%
Median Selling Price
$149,250
$156,000
4.52%
$145,050
$150,000
3.41%
# of Active Listings Placed into Pending Status During April
1709
1923
12.52%
Active Listings at April 15
5688
4449
-21.78%
Jefferson County
Apr-15
Apr-16
% Change
Jan. 1-April 30, 2015
Jan. 1-April 30, 2016
% Change
Houses Sold
951
970
2.00%
3009
3326
10.54%
Averages Selling Price
$186,496
$186,887
0.21%
$179,292
$180,260
0.54%
Median Selling Price
$144,000
$151,500
5.21%
$140,000
$147,950
5.68%
# of Active Listings Placed into Pending Status During April
1169
1303
11.46%
Active Listings at April 15
3455
2571
-25.59%
Oldham County
Apr-15
Apr-16
% Change
Jan. 1-April 30, 2015
Jan. 1-April 30, 2016
% Change
Houses Sold
87
89
2.30%
245
297
21.22%
Averages Selling Price
$332,410
$273,016
-17.87%
$291,994
$279,385
-4.32%
Median Selling Price
$282,500
$248,980
-11.87%
$255,500
$255,000
-0.20%
# of Active Listings Placed into Pending Status During April
129
128
-0.78%
Active Listings at April 15
360
302
-16.11%
Bullitt County
Apr-15
Apr-16
% Change
Jan. 1-April 30, 2015
Jan. 1-April 30, 2016
% Change
Houses Sold
95
114
20.00%
283
350
23.67%
Averages Selling Price
$159,084
$172,094
8.18%
$158,637
$168,663
6.32%
Median Selling Price
$148,000
$157,500
6.42%
$141,000
$155,000
9.93%
# of Active Listings Placed into Pending Status During April
123
138
12.20%
Active Listings at April 15
347
257
-25.94%
 
 
 
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 3,900 members involved in all aspects of the residential and commercial real estate industries. For more information, contact President Greg Taylor at (502) 599-1700 or CEO Lisa Stephenson at (502) 894-9860.

 

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