March 2014 Housing Stats

March home sales were down 5% from a year ago, and ongoing inventory shortages kept prices level in most areas. Prices in Jefferson County were up about 1.5% from a year ago. Tight inventory was reported in most areas, with 18% fewer homes for sale in March compared to the same month one year ago. The average price  in Jefferson County was $164,000, which is about the same as March 2013. The average “days on the market” also was about the same compared to a year ago, with the average home taking approximately 3-4 months to  sell. Lester Sanders, President of the Greater Louisville Association of Realtors®, stated that, “The slight dip in March closings, compared to March 2013, was likely due to poor weather in late January and early February when those contracts were written.” He also added that, “Members of the Greater Louisville Association of Realtors® helped place 9% more properties under contract in March compared to a year ago. This increase in pending sales should result in highly favorable closed figures and kick off a busy spring market.”

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