Louisville Area Home Sales up 6.3% Year-to-Date with 5.5% Increase in Prices

The Greater Louisville Association of Realtors® (GLAR) reported year-to-date sales up 6.3%, with 1,732 homes and condos sold versus 1,629 at the same point last year. Sales were up 0.5% in February 2015 (848 units) compared to February 2014 (844 units), and the average selling price in all Multiple Listing Service (MLS) areas was up 5.5% compared to the same month last year. The median price in Jefferson County was up 3.7% and the average was up 1.6% due to the specific mix of homes sold. For all MLS areas, the inventory of available properties remains 11% lower than the same month last year. In Jefferson County, inventory is recovering slightly, but is still 6.1% lower than February 2014.

GLAR President Paula Colvin commented that, “members saw strong sales in February with multiple offers on properties in several areas of the market, which is something we would typically see in the spring and summer months.” She also added that, “the inventory of homes available for sale has rebounded from 11% lower to 6% lower, and we anticipate more sellers putting their homes on the market in March.”

All MLS Areas Feb.
2014
Feb. 2015 % Change Jan. 1- Feb. 28, 2014 Jan. 1-Feb. 28, 2015 % Change
Houses Sold 844 848 0.47% 1,629 1,732 6.32%
Averages Selling Price $158,929 $172,540 8.56% $160,375 $169,305 5.57%
Median Selling Price $131,950 $144,000 9.13% $130,000 $139,250 7.12%
# of Active Listings Placed into Pending Status During February 1039 1211 16.55%
Active Listings at February 15 6065 5397 -11.01%
Jefferson County Feb.
2014
Feb. 2015 % Change Jan. 1- Feb. 28, 2014 Jan. 1-Feb. 28, 2015 % Change
Houses Sold 578 594 2.77% 1117 1232 10.30%
Averages Selling Price $162,821 $170,361 4.63% $164,032 $166,637 1.59%
Median Selling Price $132,000 $135,000 2.27% $130,000 $134,900 3.77%
# of Active Listings Placed into Pending Status During February 692 845 22.11%
Active Listings at February 15 3518 3301 -6.17%
Oldham County Feb.
2014
Feb. 2015 % Change Jan. 1- Feb. 28, 2014 Jan. 1-Feb. 28, 2015 % Change
Houses Sold 46 51 10.87% 90 97 7.78%
Averages Selling Price $260,324 $249,701 -4.08% $240,216 $260,550 8.46%
Median Selling Price $225,750 $239,900 6.27% $201,000 $240,287 19.55%
# of Active Listings Placed into Pending Status During February 70 65 -7.14%
Active Listings at February 15 382 322 -15.71%
Bullitt County Feb.
2014
Feb. 2015 % Change Jan. 1- Feb. 28, 2014 Jan. 1-Feb. 28, 2015 % Change
Houses Sold 62 50 -19.35% 102 99 -2.94%
Averages Selling Price $138,705 $165,424 19.26% $148,065 $155,717 5.17%
Median Selling Price $128,200 $143,750 12.13% $130,000 $137,900 6.08%
# of Active Listings Placed into Pending Status During February 74 78 5.41%
Active Listings at February 15 420 323 -23.10%

 

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