LouisvilleKY home sales on the rise

greater louisville association of realtors

Louisville Area Home Sales Up 6.6% and Average Price Up 3.0% Year-to-Date vs 2015

Louisville, KY (October 17, 2016) – The Greater Louisville Association of Realtors® (GLAR) reported year-to-date (YTD) sales up 6.6% compared the same time last year. Sales in September 2016 were up 7.7%, vs September 2015, with 1,600 homes and condos sold. The median price was up 4.8% YTD and the average was 3.0% higher YTD.
In Jefferson County, the average price in September 2016 was $205,975 and the median was $167,000. For all MLS areas, the inventory of available properties was 22.5% lower than at the same time last year. In Jefferson County the inventory of homes and condos for sale was 23.7% lower than September 2015.
GLAR President Allison Bartholomew commented that, “The tight inventory of starter homes continued during September, translating into quick sales. At the same time, activity at the higher end was at a more moderate pace. Our members are looking forward to a healthy fall marketwith reasonable gains in sales and prices.”
The National Association of Realtors® (NAR) Chief Economist, Lawrence Yun, commented recently that, “Healthy labor markets in most of the country should be creating a sustained demand for home purchases. However, there’s no question that after peaking in June, sales in a majority of the country have inched backwards because inventory isn’t picking up to tame price growth and replace what’s being quickly sold.”
The National Association of Home Builders (NAHB) Chairman Ed Bradyrecently remarked that, “As household incomes rise, builders in many markets across the nation are reporting that they are seeing more serious buyers, a positive sign that the housing market continues to move forward.” He added that, “The single-family market continues to make gradual gains and we expect this upwardmomentum will build throughout the remainder of the year and into 2017.”
All MLS Areas
Sep-15
Sep-16
% Change
Jan. 1- Sept 30, 2015
Jan. 1-Sept 30, 2016
% Change
Houses Sold
1,485
1,600
7.74%
12,508
13,340
6.65%
Averages Selling Price
$182,995
$199,616
9.08%
$190,822
$196,607
3.03%
Median Selling Price
$151,500
$165,000
8.91%
$155,500
$163,000
4.82%
# of Active Listings Placed into Pending Status During Sept
1383
1471
6.36%
Active Listings at Sept 15
6125
4747
-22.50%
Jefferson County
Sep-15
Sep-16
% Change
Jan. 1- Sept 30 , 2015
Jan. 1-Sept 30, 2016
% Change
Houses Sold
1,021
1,084
6.17%
8679
9100
4.85%
Averages Selling Price
$181,081
$205,975
13.75%
$189,681
$197,545
4.15%
Median Selling Price
$144,900
$167,000
15.25%
$152,000
$160,800
5.79%
# of Active Listings Placed into Pending Status During Sept
945
979
3.60%
Active Listings at Sept 15
3634
2774
-23.67%
Oldham County
Sep-15
Sep-16
% Change
Jan. 1-Sept 30, 2015
Jan. 1-Sept 30, 2016
% Change
Houses Sold
92
87
-5.43%
809
851
5.19%
Averages Selling Price
$289,878
$289,834
-0.02%
$292,399
$297,910
1.88%
Median Selling Price
$264,605
$264,000
-0.23%
$260,000
$267,000
2.69%
# of Active Listings Placed into Pending Status During Sept
79
81
2.53%
Active Listings at Sept 15
414
327
-21.01%
Bullitt County
Sep-15
Sep-16
% Change
Jan. 1- Sept 30, 2015
Jan. 1-Sept 30, 2016
% Change
Houses Sold
101
129
27.72%
847
949
12.04%
Averages Selling Price
$169,458
$167,746
-1.01%
$168,465
$174,425
3.54%
Median Selling Price
$157,250
$159,900
1.69%
$154,700
$160,000
3.43%
# of Active Listings Placed into Pending Status During Sept
100
101
1.00%
Active Listings at Sept 15
354
270
-23.73%
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.
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)893-1900or CEO Lisa Stephenson at (502) 894-9860.

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