1,571 more units sold this year
LOUISVILLE, Ky. (Dec. 14, 2015) — Year to date sales are up 11.6 percent, reports the Greater Louisville Association of Realtors. This year 14,983 homes and condos have been sold, compared to 13,422 at this time last year.
Sales were up 0.2 percent in November 2015 over November 2014, with 1,041 units selling this November, compared to 1,039 last November. The median price for November 2015 was up 5.2 percent and year-to-date statistics show a 5.9 percent increase in values.
In Jefferson County the average price of a sale was $192,195 and the median $149,950. For all MLS areas the inventory of available properties was 18.9 percent lower than the same time last year.
“With the new CFPB rules now in effect, the pace of sales is returning to a more normal level, said GLAR president Greg Taylor. “However, the inventory of homes remains relatively low, which is contributing to continued price increase in the 4 to 6 percent range, depending on location and price point.”
At the national level, the median price increase reported in October was similar to Louisville, at 5.8 percent. Louisville’s inventory shortage is more pronounced than the national average, with almost 19 percent fewer homes for sale in Louisville, compared to 5 percent nationally.