October sales up 1.6%
LOUISVILLE, Ky. (Nov. 14, 2016) — Year-to-date sales of homes and condos are up 6.6 percent, according to the Greater Louisville Association of Realtors. Sales in October were up 1.6 percent from October 2015, with 1,481 homes and condos sold. The median price was up 5.1 percent and the average price was up 3.2 percent.
In Jefferson County, the average price in October was $198,933 and the median was $166,000. For all MLS areas, the inventory of available properties was 23.2 percent lower than at the same time last year. In Jefferson County, the inventory of homes and condos for sale was 24.2 percent lower than October 2015.
“The lack of inventory continued in October, especially in price ranges below $300k. Near record low mortgage rates helped to sustain positive sales gains,” said GLAR President Allison Bartholomew. “Additionally, the expanding inventory of new apartment units in Louisville has absorbed some of the new household formation and kept annual price appreciation in the 3-5 percent range.”