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July 14, 2017
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Louisville area home sales up 2.4% year-to-date, median price up 7.5% on low inventory

LOUISVILLE (July 14, 2017) – The Greater Louisville Association of Realtors reported home sales up 2.42 percent year-to-date for 2017. Sales totaled 8,625 for the first half of the year versus 8,421 last year. With the continued lower inventory, the average price YTD was up 8.05 percent and the median price was up 7.53 percent.

In Jefferson County, the average price in June 2017 was $230,666 and the median was $182,750. For all MLS areas, the inventory of available properties was 14.97 percent lower than at the same time last year. Sales in June 2017 dipped 4.23 percent compared to June 2016 due to the reduced inventory, but sales year to date are still up 2.4 percent compared to last year. In Jefferson County, the inventory of homes and condos for sale was 9.47 percent lower than June 2016. Inventory in Oldham and Bullitt Counties was down 0.62 percent and 28.85 percent, 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 seeing a dichotomy in the market, where homes under $300k are selling very quickly and homes on the higher end are selling at a slower pace. Inventory in Jefferson County is improving slightly in July, giving buyers more homes to choose from compared to this spring.”

National Association of Realtors Chief Economist Lawrence Yun observed that national sales activity expanded “as more buyers overcame increasingly challenging market conditions prevalent in many areas.” Across the country, NAR reported median prices up 5.8 percent and inventory down 8.4 percent versus this time last year.

 

All MLS Areas June 2016 June 2017 % Change Jan 1 – June 30, 2016 Jan 1-June 30, 2017 % Change
Houses Sold       1,866 1,787 -4.23% 8,421 8,625 2.42%
Averages Selling Price     $207,857 $226,312 8.88% $190,935 $206,298 8.05%
Median Selling Price     $170,000 $184,000 8.24% $158,000 $169,900 7.53%
# of Active Listings Placed into Pending Status During June 1696 1675 -1.24%
Active Listings at June 15     4930 4192 -14.97%
     
Jefferson County June 2016 June 2017 % Change Jan 1 – June 30, 2016 Jan 1-June 30, 2017 % Change
Houses Sold       1,274 1,222 -4.08% 5751 5920 2.94%
Averages Selling Price     $206,086 $230,666 11.93% $191,139 $206,606 8.09%
Median Selling Price     $166,500 $182,750 9.76% $155,000 $166,000 7.10%
# of Active Listings Placed into Pending Status During June 1167 1121 -3.94%
Active Listings at June 15     2777 2514 -9.47%
     
     
Oldham County June 2016 June 2017 % Change Jan 1 – June 30, 2016 Jan 1-June 30, 2017 % Change
Houses Sold       139 120 -13.67% 546 488 -10.62%
Averages Selling Price     $327,647 $336,452 2.69% $292,126 $319,158 9.25%
Median Selling Price     $310,000 $291,500 -5.97% $262,750 $288,000 9.61%
# of Active Listings Placed into Pending Status During June 88 99 12.50%
Active Listings at June 15     322 320 -0.62%
     
   
Bullitt County June 2016 June 2017 % Change Jan 1 – June 30, 2016 Jan 1-June 30, 2017 % Change
Houses Sold       132 116 -12.12% 597 613 2.68%
Averages Selling Price     $181,396 $183,735 1.29% $172,007 $182,339 6.01%
Median Selling Price     $169,250 $174,750 3.25% $158,000 $170,500 7.91%
# of Active Listings Placed into Pending Status During June 125 132 5.60%
Active Listings at June 15     305 217 -28.85%

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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