LouisvilleKY Area Home Sales and Median Price Up with Continued Low Inventory

greater louisville association of realtors

 

Louisville, KY April 13, 2017)  The Greater Louisville Association of Realtors® (GLAR) reported sales up 4.67% year-to-date (YTD) for 2017. Sales totaled 3,608 for the first quarter versus 3,447 last year. With the continued lower inventory, the average price YTD was up 8.62% and the median price was up 6.55%.
In Jefferson County, the average price in March 2017 was $193,172 and the median was $155,000. For all MLS areas, the inventory of available properties was 19.14% lower than at the same time last year. In Jefferson County, the inventory of homes and condos for sale was also 21.52% lower than March 2016. Inventory in Oldham and Bullitt Counties was down 13.73% and 18.71%, respectively.
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 Allison Bartholomew commented that, “Our members are still working in a very strong sellers’ market for homes up to $400k. Between $400-600k the market becomes slightly more balanced and over $600k we’re in a buyers’ market in most areas due to the influx of new listings.”
The National Association of Realtors’® (NAR) Chief Economist, Lawrence Yun, observed that “buyers came back in force last month as a modest, seasonal uptick in listings was enough to fuel an increase in contract signings throughout the country.” He continued by saying that more buyers entered the market in part due to, “the expectation that delaying their home search may mean paying higher interest rates later this year.”
All MLS Areas
March 2016
March 2017
% Change
Jan 1-Mar. 31, 2016
Jan 1-Mar. 31, 2017
% Change
Houses Sold
1,402
1,564
11.55%
3,447
3,608
4.67%
Averages Selling Price
$177,138
$193,518
9.25%
$178,047
$193,389
8.62%
Median Selling Price
$150,000
$160,000
6.67%
$149,700
$159,500
6.55%
# of Active Listings Placed into Pending Status During March
1731
1709
-1.27%
Active Listings at March 15
4561
3688
-19.14%
Jefferson County
March 2016
March 2017
% Change
Jan 1-Mar. 31, 2016
Jan 1-Mar. 31, 2017
% Change
Houses Sold
945
1,072
13.44%
2366
2498
5.58%
Averages Selling Price
$175,043
$193,172
10.36%
$177,522
$192,794
8.60%
Median Selling Price
$149,000
$155,000
4.03%
$145,500
$157,000
7.90%
# of Active Listings Placed into Pending Status During March
1167
1154
-1.11%
Active Listings at March 15
2626
2061
-21.52%
Oldham County
March 2016
March 2017
% Change
Jan 1 – Mar. 31, 2016
Jan 1-Mar. 31, 2017
% Change
Houses Sold
86
79
-8.14%
209
188
-10.05%
Averages Selling Price
$287,235
$302,399
5.28%
$282,047
$310,644
10.14%
Median Selling Price
$268,935
$275,000
2.26%
$256,590
$278,500
8.54%
# of Active Listings Placed into Pending Status During March
102
89
-12.75%
Active Listings at March 15
284
245
-13.73%
Bullitt County
March 2016
March 2017
% Change
Jan 1 – Mar. 31, 2016
Jan 1-Mar. 31, 2017
% Change
Houses Sold
117
124
5.98%
239
258
7.95%
Averages Selling Price
$167,413
$183,868
9.83%
$166,269
$176,577
6.20%
Median Selling Price
$152,500
$166,700
9.31%
$152,000
$160,500
5.59%
# of Active Listings Placed into Pending Status During March
143
125
-12.59%
Active Listings at March 15
278
226
-18.71%
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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