Average price up 5.3%
LOUISVILLE, Ky. (Feb. 15, 2017) — The Greater Louisville Association of Realtors (GLAR) reported January 2017 sales were up 1.8 percent compared to January 2016, with 957 units sold this year, compared to 940 last year.
The average price was up 5.3 percent and the median price was 5.8 percent higher than in January 2016.
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.
In Jefferson County, the average price in January 2017 was $195,572 and the median was $160,500. For all MLS areas, the inventory of available properties was 20.3 percent lower than at the same time last year.
In Jefferson County, the inventory of homes and condos for sale was also 20.3 percent lower than January 2016. Inventory in Oldham County was down 24.9 percent and was down 22.2 percent in Bullitt County.
“The lack of inventory of starter and move-up homes continues to be the dominant story in the Louisville market,”GLAR President Allison Bartholomew. “Many first-time buyers end up having to make offers on more than one home. At the same time, the pace of sales in higher price ranges is more normal. Rates have ticked up slightly, but affordability in Louisville is still very good relative to larger cities.”