Home » Louisville home sales volume down 10% in April, prices level, 16% fewer homes on the market

Louisville home sales volume down 10% in April, prices level, 16% fewer homes on the market

LOUISVILE, Ky. (May 20, 2014) — The Greater Louisville Association of Realtors reports Louisville home sales in April were down 10 percent from a year ago, but ongoing inventory shortages kept prices level in most areas.

Prices in Jefferson County were up about 1 percent from a year ago. Tight inventory was reported in most areas, with 15 percent fewer homes for sale in April compared to the same month one year ago. The average home sales price in Jefferson County was $164,289, which is about the same as April 2013.

for-sale-signMembers of the Greater Louisville Association of Realtors helped place 5 percent more properties under contract in April compared to a year ago.

“Cash sales represent 22 percent of all sales in Louisville so far this year, which is probably due in part to the continuing trend of baby boomers selling their larger homes and downsizing,” said Lester Sanders, president of the GLAR.

“Additionally, lending standards are still relatively strict, and in the event of a multiple-offer situation cash offers win out most of the time. It remains a fantastic time to sell as buyers continue to enter the market in search of their new home.”

Finally, in congressional testimony last week, Fed Chair Janet Yellen indicated that she does not expect the housing rebound to reverse direction. However, she did note that new household formation is lagging due in part to high levels of student loan debt.

 

 

All MLS Areas

April 2013

April 2014

% Change

Jan. 1 – April 30, 2013

Jan. 1 – April 30, 2014

% Change

Houses Sold

1297

1,165

-10.18%

4,051

3,819

-5.73%

Averages Selling Price

$162,949

$165,214

1.39%

$163,282

$164,282

0.61%

Median Selling Price

$135,000

$135,950

0.70%

$134,000

$134,950

0.71%

# of Active Listings Placed into Pending Status During April

1446

1522

5.26%

Active Listings at April 15

7376

6219

-15.69%

 

Jefferson County

April 2013

April 2014

% Change

Jan. 1 – April 30, 2013

Jan. 1 – April 30, 2014

% Change

Houses Sold

917

790

-13.85%

2841

2606

-8.27%

Averages Selling Price

$164,459

$164,289

-0.10%

$163,779

$165,207

0.87%

Median Selling Price

$135,000

$135,975

0.72%

$132,000

$134,500

1.89%

# of Active Listings Placed into Pending Status During April

1024

1036

1.17%

Active Listings at April 15

4427

3606

-18.55%

 

Oldham County

April 2013

April 2014

% Change

Jan. 1 – April 30, 2013

Jan. 1 – April 30, 2014

% Change

Houses Sold

73

76

4.11%

243

221

-9.05%

Averages Selling Price

$269,068

$262,225

-2.54%

$246,398

$247,540

0.46%

Median Selling Price

$222,000

$248,837

12.09%

$219,650

$225,000

2.44%

# of Active Listings Placed into Pending Status During April

103

101

-1.94%

Active Listings at April 15

452

414

-8.41%

 

Bullitt County

April 2013

April 2014

% Change

Jan. 1 – April 30, 2013

Jan. 1 – April 30, 2014

% Change

Houses Sold

74

73

-1.35%

277

252

-9.03%

Averages Selling Price

$142,313

$151,402

6.39%

$143,399

$150,992

5.30%

Median Selling Price

$125,000

$137,000

9.60%

$129,900

$137,000

5.47%

# of Active Listings Placed into Pending Status During April

94

106

12.77%

Active Listings at April 15

502

442

-11.95%