1,739 more units sold last year
LOUISVILLE, Ky. (Jan. 25, 2016) — The Greater Louisville Association of Realtors (GLAR) reported annual sales up 12 percent in 2015, with 16,279 homes and condos sold last year, compared to 14,540 in 2014.
The median price for all areas in 2015 was up 5.8 percent over 2014 and the average price was up 6.2 percent. In Jefferson County, the average price in 2015 was $190,764 and the median was $152,500. For all MLS areas, the inventory of available properties was 21 percent lower than at the same time last year.
Sales were up 12.5 percent in December 2015—1,258 units sold—compared to December 2014 when 1,118 units were sold.
“GLAR members are adapting to the new CFPB rules implemented in October and finished the year with strong December sales results,” said GLAR president Greg Taylor.
At the national level, Lawrence Yun, Chief Economist for the National Association of Realtors said that, “Home prices rising too sharply in several markets, mixed signs of an economy losing momentum and waning supply levels have acted as headwinds in recent months despite low mortgage rates and solid job gains. While feedback from Realtors continues to suggest healthy levels of buyer interest, available listings that are move-in ready and in affordable price ranges remain hard to come by for many would-be buyers.”
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.