The Greater Louisville Association of Realtors® (“GLAR”) reported annual sales up 12% with 16,279 homes and condos sold versus 14,540 last year. Sales were also up 12.5% in December 2015 (1,258 units) compared to December 2014 (1,118 units). The median price for all areas in 2015 was up 5.8% compared to 2014, and the average price was up 6.2%. In Jefferson County, the average price in 2015 was $190,764 and the median was $152,500. For all MLS areas, the inventory of available properties was 21% lower than at the same time last year.
GLAR President Greg Taylor commented that, “GLAR members are adapting to the new CFPB rules implemented in October and finished the year with strong December sales results.” At the national level, Lawrence Yun, Chief Economist for the National Association of Realtors® commented that, “Home prices rising too sharply in several markets, mixed signs of an economy losing momentum and waning supply levels have acted as headwinds in recent months despite low mortgage rates and solid job gains. While feedback from Realtors® continues to suggest healthy levels of buyer interest, available listings that are move-in ready and in affordable price ranges remain hard to come by for many would-be buyers.”