Members of the Greater Louisville Association of Realtors recorded 1.1 percent more home sales in August 2014 (1,461 units) than in July 2014 (1,445 units), but that is 7 percent fewer than August 2013 (1,572 units).
The year-to-date average price in Jefferson and surrounding counties was up 3.0 percent to $180,548 compared to $175,233 last year. The year-to-date median price was $146,000 versus $144,900 one year ago. The inventory of homes is still relatively tight with 10.7 percent fewer active listings for sale than this time last year.
“Members experienced a steady pace of closed sales in August, but we did see a slight decline (4-5 percent) in the number of contracts signed compared to this time last year,” said GLAR President Lester Sanders. “As consumer confidence continues to grow the number of buyers and sellers will increase in the market.”
The National Association of Realtors Department of Quantitative Research reported that although credit is still tight, consumer confidence is at the highest level in seven years. NAR reported that 59% of loans made this year have been to borrowers with FICO credit scores 740 or higher, compared to only 40 percent at that high level in the pre-boom years of 2001-04. Additionally, only 2 percent of loans this year have been made to borrowers with scores less than 620. Even with that tight credit environment, consumer confidence is relatively strong due to the stabilizing housing market, low interest rates and positive stock market returns.
| All MLS Areas | Aug 2013 | Aug 2014 | % Change | Jan. 1 – Aug. 31, 2013 | Jan. 1 – Aug. 31, 2014 | % Change | |||
| Houses Sold | 1,572 | 1,461 | -7.06% | 10,063 | 9,737 | -3.24% | |||
| Averages Selling Price | $176,191 | $195,168 | 10.77% | $175,233 | $180,548 | 3.03% | |||
| Median Selling Price | $145,000 | $159,995 | 10.34% | $144,900 | $146,000 | 0.76% | |||
| # of Active Listings Placed into Pending Status During Aug. | 1432 | 1363 | -4.82% | ||||||
| Active Listings at Aug 15 | 7961 | 7108 | -10.71% | ||||||
| Jefferson County | Aug 2013 | Aug 2014 | % Change | Jan. 1 – Aug. 31, 2013 | Jan. 1 – Aug. 31, 2014 | % Change | |||
| Houses Sold | 1,125 | 1,003 | -10.84% | 7,047 | 6,654 | -5.58% | |||
| Averages Selling Price | $180,301 | $190,496 | 5.65% | $177,303 | $181,726 | 2.49% | |||
| Median Selling Price | $146,000 | $155,000 | 6.16% | $145,000 | $145,000 | 0.00% | |||
| # of Active Listings Placed into Pending Status During Aug. | 1,016 | 919 | -9.55% | ||||||
| Active Listings at Aug 15 | 4,797 | 4,287 | -10.63% | ||||||
| Oldham County | Aug 2013 | Aug 2014 | % Change | Jan. 1 – Aug. 31, 2013 | Jan. 1 – Aug. 31, 2014 | % Change | |||
| Houses Sold | 87 | 114 | 31.03% | 646 | 664 | 2.79% | |||
| Averages Selling Price | $264,101 | $310,766 | 17.67% | $266,213 | $278,927 | 4.78% | |||
| Median Selling Price | $239,000 | $265,000 | 10.88% | $234,000 | $247,000 | 5.56% | |||
| # of Active Listings Placed into Pending Status During Aug. | 96 | 96 | 0.00% | ||||||
| Active Listings at Aug 15 | 499 | 454 | -9.02% | ||||||
| Bullitt County | Aug 2013 | Aug 2014 | % Change | Jan. 1 – Aug. 31, 2013 | Jan. 1 – Aug. 31, 2014 | % Change | |||
| Houses Sold | 125 | 112 | -10.40% | 719 | 668 | -7.09% | |||
| Averages Selling Price | $140,384 | $177,965 | 26.77% | $144,289 | $159,874 | 10.80% | |||
| Median Selling Price | $123,000 | $155,200 | 26.18% | $134,900 | $139,000 | 3.04% | |||
| # of Active Listings Placed into Pending Status During Aug. | 106 | 94 | -11.32% | ||||||
| Active Listings at Aug 15 | 532 | 412 | -22.56% | ||||||
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