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Louisville home sales in March highest since 2007

March 2013 home sales statistics for the Louisville area show the highest March sales volume and average price since 2007, according to the monthly news release from the Greater Louisville Association of Realtors ®.

GLAR reported 1,049 properties were sold by members this March, representing an increase of 15 percent compared to March 2012. The average price increased 4 percent from one year ago to $170,424. This matches the highest average price for March sales, which was recorded in 2007.

“We are seeing shortages of inventory in the most popular neighborhoods,” said GLAR President Paul Ogden. However, the overall inventory of available homes is basically unchanged. “The large number of properties that went into a pending status in February did show up in the March sales figures, and members are looking for that strength to carry forward into the summer selling season.”

Jefferson County had 746 of the 1,049 sales in Greater Louisville. That was up 20 percent from March 2012. Average home sales prices in Jefferson were $173,590, representing a increase of 6.9 percent from the same month a year earlier.