LOUISVILLE, Ky. — The Greater Louisville Association of Realtors (GLAR) reported sales volume up 2.8% year-to-date versus last year. Sales in November 2020 were up 13.3% compared to November 2019.
The average price was up 9% year-to-date versus 2019. In Jefferson County, the average price was $256,452 and the median was $218,000. For all MLS areas, the inventory of available properties was 44% lower than at the same time last year.
GLAR President Judie Parks commented, “New listings are being absorbed by the market very quickly, even though the Thanksgiving holidays. Sellers of starter and move-up homes, that are correctly priced, are still receiving multiple offers.”
The Chief Economist for the National Association of Realtors, Lawrence Yun, recently said he expects that national 2020 sales will finish up 3-5% with prices up 7-9%. He is forecasting 2021 sales volume up 5-10% and price appreciation of 3-5%, citing the covid vaccine and continued low-interest rates as primary drivers to the housing market.