LouisvilleKY Area Home Sales Start 2017 Up

greater louisville association of realtors

Louisville, KY (February 15, 2017) – The Greater Louisville Association of Realtors® (GLAR) reported January 2017 sales up 1.8% compared to January 2016, with 957 units sold versus 940 last year.  The average price was up 5.3% and the median price was 5.8% higher than in January 2016.  

 
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 January 2017 was $195,572 and the median was $160,500. For all MLS areas, the inventory of available properties was 20.3% lower than at the same time last year. In Jefferson County, the inventory of homes and condos for sale was also 20.3% lower than January 2016. Inventory in Oldham and Bullitt Counties was down 24.9% and 22.2%, respectively.  
greater louisville association of realtors
 
GLAR President Allison Bartholomew commented that, “The lack of inventory of starter and move-up homes continues to be the dominant story in the Louisville market. Many first-time buyers end up having to make offers on more than one home. At the same time, the pace of sales in higher price ranges is more normal. Rates have ticked up slightly, but affordability in Louisville is still very good relative to larger cities.”
 
NAR President William E. Brown recently commented that, “The prospect of higher mortgage rates and more home shoppers in coming months should be enough of an incentive for those serious about buying to start their search now.” He continued by saying, “There are fewer listings on the market, but also a little less competition than what’s expected this spring. Buyers may find just the home they’re looking for at a good price and without the possibility of having to outbid others.”
 
 
All MLSArea
 
Jan.2016
 
Jan.2017
 
%Change
HousesSold
940
957
1.81%
AveragesSelling Price
$187,381
$197,303
5.30%
MedianSellingPrice
$153,000
$162,000
5.88%
#ofActiveListingsPlacedinto PendingStatus DuringJan.
1277
1375
7.67%
ActiveListingsatJan.15
4743
3777
20.37%
 
 
JeffersonCounty
 
Jan.2016
 
Jan.2017
 
%Change
HousesSold
635
660
3.94%
AveragesSelling Price
$189,249
$195,572
3.34%
MedianSellingPrice
$152,250
$160,500
5.42%
#ofActiveListingsPlacedinto PendingStatus DuringJan.
893
946
5.94%
ActiveListingsatJan.15
2725
2170
20.37%
 
Oldham County
 
Jan.2016
 
Jan.2017
 
%Change
HousesSold
64
53
17.19%
AveragesSelling Price
$277,326
$309,399
11.57%
MedianSellingPrice
$245,515
$257,000
4.68%
#ofActiveListingsPlacedinto PendingStatus DuringJan.
69
58
15.94%
ActiveListingsatJan.15
293
220
24.91%
 
 
BullittCounty
 
Jan.2016
 
Jan.2017
 
%Change
HousesSold
55
75
36.36%
AveragesSelling Price
$170,452
$179,647
5.39%
MedianSellingPrice
$157,400
$169,900
7.94%
#ofActiveListingsPlacedinto PendingStatus DuringJan.
107
98
8.41%
ActiveListingsatJan.15
328
255
22.26%
 
 
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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