LouisvilleKY’s Year-to-date home sales are up 6% compared to the same time last year

greater louisville association of realtors

In Jefferson County, the average price in July 2016 was $211,729 and the median was $178,000

 
Louisville, KY (August 15, 2016) – The Greater Louisville Association of Realtors® (GLAR) reported year-to-date (YTD) sales up 6% compared the same time last year. Although the volume of sales moderated this past month compared to July 2015 (1,625 vs 1,756 respectively), sales are still up 6% YTD and the median selling price was up 3.2% YTD.
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 July 2016 was $211,729 and the median was $178,000. For all MLS areas, the inventory of available properties was 18.9% lower than at the same time last year. In Jefferson County, the inventory of homes and condos for sale was 21.1% lower than July 2015.
greater louisville association of realtors
GLAR President Greg Taylor commented that, “The inventory issue facing buyers is getting better overall, but the most popular areas still have fewer homes available for buyers to choose from.” He added that, “As expected, showing activity has dropped off somewhat concurrent with school getting back in session.”
A recent report by Lawrence Yun, Chief Economist for the National Association of Realtors® observed that, “Steadily improving local job markets and mortgage rates teetering close to all-time lows brought buyersout in force in many large and middle-tier cities. However, with homebuilding activity still failing to keep up with demand and not enough current homeowners putting their home up for sale, prices continued their strong ascent – and in many markets at a rate well above income growth.” However, Louisville remains a generally affordable market when comparing average income and average home prices.
All MLS Areas
Jul-15
Jul-16
% Change
Jan. 1- July 31, 2015
Jan. 1-July 31, 2016
% Change
Houses Sold
1,756
1,625
-7.46%
9,447
10,012
5.98%
Averages Selling Price
$190,431
$212,598
11.64%
$190,507
$194,585
2.14%
Median Selling Price
$159,950
$179,950
12.50%
$155,000
$160,000
3.23%
# of Active Listings Placed into Pending Status During July
1549
1594
2.91%
Active Listings at July 15
6120
4960
-18.95%
Jefferson County
Jul-15
Jul-16
% Change
Jan. 1- July 31 , 2015
Jan. 1-July 31, 2016
% Change
Houses Sold
1,218
1,131
-7.14%
6582
6865
4.30%
Averages Selling Price
$187,297
$211,729
13.04%
$189,290
$194,399
2.70%
Median Selling Price
$158,000
$178,000
12.66%
$151,975
$159,900
5.21%
# of Active Listings Placed into Pending Status During July
1078
1086
0.74%
Active Listings at July 15
3626
2860
-21.13%
Oldham County
Jul-15
Jul-16
% Change
Jan. 1-July 31, 2015
Jan. 1-July 31, 2016
% Change
Houses Sold
136
110
-19.12%
620
655
5.65%
Averages Selling Price
$284,811
$332,067
16.59%
$292,819
$299,002
2.11%
Median Selling Price
$253,600
$300,000
18.30%
$256,924
$267,500
4.12%
# of Active Listings Placed into Pending Status During July
92
101
9.78%
Active Listings at July 15
407
368
-9.58%
Bullitt County
Jul-15
Jul-16
% Change
Jan. 1- July 31, 2015
Jan. 1-July 31, 2016
% Change
Houses Sold
131
109
-16.79%
639
703
10.02%
Averages Selling Price
$168,981
$184,956
9.45%
$166,041
$173,677
4.60%
Median Selling Price
$150,000
$179,000
19.33%
$150,000
$159,900
6.60%
# of Active Listings Placed into Pending Status During July
109
108
-0.92%
Active Listings at July 15
325

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