October 2015 sales up 5.1% percent over October 2014
LOUISVILLE, Ky. (Nov. 13, 2015) — Year-to-date sales are up 12.2 percent over this time last year, with 13,896 homes and condos sold, compared to 12,383 at the same time last year, says the Greater Louisville Association of Realtors.
Sales were up 5.1 percent in October 2015 compared to October 2014, with 1,416 units sold this October, compared to 1,347 last year. The media price for all areas in October 2015 was up 6.3 percent, compared to October 2014, and the year-to-date statistics show a 5.8 percent increase in values.
In Jefferson County the average price was $189,428 and the median was $155,000. For all MLS areas, the inventory of available properties was 17.3 percent lower than at the same time last year.
“Continued low inventory in Louisville means accurately prices, move-in read homes are selling quickly,” said GLAR president Greg Taylor.
At the national level, Lawrence Yun, chief economist for the National Association of Realtors, said that despite persistently low mortgage rates and a healthier job market, the first-time homebuyer rate remains suppressed. In the recent survey of Home Buyers & Sellers, debt was cited as the primary reason in the delay in home ownership. However, 64 percent of first time buyers said their primary reason to purchase a home was a “desire to own,” up from 53 percent from last year.