LOUISVILLE, Ky. — Louisville area year-to-date home sales volume was up 6.3% in August 2021, the Greater Louisville Association of Realtors (GLAR) reported. The pace of growth slowed in August with 1740 homes and condos sold, versus 1933 in August 2020. The year-to-date figure remains higher because of the impact of COVID-19 on sales in 2020.
The average price was up 9.2% year-to-date, compared to this time last year. In Jefferson County, the average price was $267,586 and the median was $230,000. For all MLS areas, the inventory of available properties was 5.7% lower than at the same time last year.
“Months of supply remain at historic lows in the greater Louisville market, reflecting a housing shortage,” said GLAR President Judie Parks. “In August, there were 1.46 months of supply in our area. Lack of inventory is also a factor contributing to the monthly decline in sales.”
Lawrence Yun, chief economist for the National Association of Realtors (NAR) said the market “may be starting to cool slightly, but at the moment there is not enough supply to match the demand from would-be buyers.”
“Inventory is slowly increasing and home shoppers should begin to see more options in the coming months,” he said. “Homes listed for sale are still garnering great interest, but the multiple, frenzied offers-sometimes double-digit bids on one property have dissipated in most regions.”
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