Sales up 11.5% in 2016
LOUISVILLE, Ky. (June 16, 2016) — Greater Louisville area May 2016 home and condo sales were up 4.1 percent over May 2015, with 1,573 homes and condos sold, compared to 1,510 last year, according to the Greater Louisville Association of Realtors (GLAR).
Through May 2015 sales are up 11.5 percent. The median price for all areas through May was up 3.3 percent, and the average price was up 0.7 percent.
In Jefferson County, the average price in May was $208,469 and the median was $169,000. For all MLS areas, the inventory of available properties was 23.6 percent lower than at the same time last year. In Jefferson County, the decreased inventory of homes and condos for sale was even more pronounced at 27.6 percent lower than May 2015.
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.
“The limited inventory of homes for sale is not just limited to Jefferson County. Bullitt and Oldham County inventory is also down 21 percent and 25 percent respectively,” said GLAR president Greg Tayloy. “Continued low mortgage rates are keeping affordability intact; however, our members are seeing rising prices in neighborhoods that attract first-time buyers due to the low inventory.”