The Greater Louisville Association of Realtors® (“GLAR”) reported year-to-date sales up 13% with 9,373 homes and condos sold versus 8,290 at the same time last year. Sales were up 14.2% in July 2015 (1,707 units) compared to July 2014 (1,494 units). Prices in July 2015 were comparable to July 2014, but the year-to-date statistics show a 7% increase in values. In Jefferson County, the average price was $188,703 and the median was $158,500. For all MLS areas, the inventory of available properties was 19% lower than at the same time last year.
GLAR President Paula Colvin commented that, “GLAR members still see a sellers’ market for starter and move up homes. The market for higher priced properties is more in balance.”
At the national level the pending homes sales figure was up 3.2% in June, representing the highest pace of sales since February 2007. Lawrence Yun, Chief Economist for the National Association of Realtors® (“NAR”) commented that, “Buyers have come back in force…This wave of demand is being fueled by a year-plus of steady job growth and an improving economy that’s giving more households the financial wherewithal and incentive to buy.