July Sales up 14%

Members of the Greater Louisville Association of REALTORS® continue to be encouraged with July sales (i.e. closings) up 14% compared to July 2011. The year ‐to‐date closing figure was also up 13% compared to January-July of last year. The number of properties placed into a pending status on the Multiple Listing Service (MLS) during July 2012 was up a substantial 29% compared to the same month last year. Most of these homes will show up in the sold/closed statistics for next month. Record low interest rates continued to fuel purchases by owner-occupant buyers and investors during July. Although the average and median prices for July were about the same as July 2011, the year‐to‐date average and median prices are up about 3‐4%. In Jefferson County the 2012 year ‐to‐date average price is $167,000 and the median price is $137,000. The inventory of homes and condos currently for sale is about the same as this time last year, with about 4500 for sale in Jefferson County and 7400 total for sale in the Louisville MLS. Additionally, relatively high rental occupancy rates have spurred apartment construction. Permits for both multi‐family and single‐family construction are up about 50% over the first half of 2012 vs 2011.

 

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