LOUISVILLE, Ky. — The Greater Louisville Association of Realtors (GLAR) reported year-to-date sales volume up 8.9% in July 2021. The pace of growth slowed in July with 1808 homes and condos sold, versus 2028 in June 2020. The year-to-date figure remains higher due to the impact of Covid-19 on sales in 2020.
The average price was up 10.9% year-to-date, compared to this time last year. In Jefferson County, the average price was $283,709 and the median was $239,900. For all MLS areas, the inventory of available properties was 19% lower than at the same time last year.
GLAR President Judie Parks commented that “We are seeing a gradual normalization of sales in some areas, but it’s still a seller’s market.” She added that showing activity typically slows somewhat during the back-to-school weeks, and that “we hope that sellers continue to bring their homes to the market.”
Lawrence Yun, the Chief Economist for the National Association of Realtors (NAR) noted that “Home price gains and the accompanying housing wealth accumulation have been spectacular over the past year, but are unlikely to be repeated in 2022. There are signs of more supply reaching the market and some tapering of demand. The national housing market looks to move from ‘super-hot to ‘warm’ with markedly slower price gains.”
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