Another 6.7% increase reported in Median Price
LOUISVILLE, Ky. (April 16, 2015) — The Greater Louisville Association of Realtors® (GLAR) reported year-to-date sales up 8.3%, with 2,891 homes and condos sold versus 2,669 at the same point last year. Sales were up 9.6% in March 2015 (1,140 units) compared to March 2014 (1,040 units), and the median selling price in all Multiple Listing Service (MLS) areas was up 8.7% compared to the same month last year.
The median price (year-to-date) in Jefferson County was up 4.9% ($139,500) and the average (year-to-date) was up 6.0% ($175,213). For all MLS areas, the inventory of available properties remains 15.5% lower than the same month last year.
GLAR releases monthly statistics mid-month to allow for the most accurate and comprehensive reporting possible. Local REALTORS report their residential sales totals to GLAR, and publishing the statistics mid-month allows for the activity that takes place late in the month to be counted. This ensures that the totals reported show the truest depiction of the local housing market.
GLAR President Paula Colvin commented that, “homes that are staged and priced correctly are selling quickly.” She also added that, “the inventory of homes for sale is still relatively low and we hope to see more sellers decide to list their homes in this spring. Early April data shows a continuation of the strong sales trend and a modest rebound in the number of new listings.”
On the national level, Lawrence Yun, Chief Economist for the National Association of Realtors®, commented that, “Jobs and wages are steadily improving. The mortgage credit box is opening up a bit. When you look at these trends along with the prospects for new home construction and continuing low interest rates, first-time buyers could be poised for a comeback in 2015.”