Home ¬Ľ Louisville area home sales down 4.5% in February

Louisville area home sales down 4.5% in February

Sales totaled 1,054

LOUISVILLE, Ky. (March 15, 2017) ‚ÄĒ The Greater Louisville Association of Realtors (GLAR) reported sales down 4.5¬†percent in February compared to February 2016. Sales totaled 1,054 this February versus 1,104 last year. Year-to-date (YTD) sales were down just 0.8 percent, coming off of a strong January. With the lower inventory, the average price YTD was up 8.1¬†percent and the median price was up 8.5¬†percent.

Screen Shot 2017-03-15 at 1.26.33 PM In Jefferson County, the average price in February 2017 was $191,281 and the median was $155,000. For all MLS areas, the inventory of available properties was 21 percent lower than at the same time last year. In Jefferson County, the inventory of homes and condos for sale was also 23.4 percent lower than February 2016. Inventory in Oldham County was down 16 percent and in Bullitt County 20 pecent.

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.

“Multiple offer situations for starter and mid-level homes continue to be the norm,” said GLAR President Allison Bartholomew. “Many first-time buyers, continue to make offers on more than one home before finding a seller to accept their offer.¬† As was the case last month, homes in higher price ranges are selling at a more normal pace.