Greater Louisville area home sales up nearly 20 percent this year

August 21, 2013 1:29 am0 commentsViews: 6

real-estate

 

July sales increase 35 percent over July 2012

LOUISVILLE, Ky. (Aug. 20, 2013) — Members of the Greater Louisville Association of Realtors reported strong summer sales data for July, with the average and median year-to-date prices exceeding the previous highs set in 2007.

July prices were about 3 percent higher than one year ago, according to the Greater Louisville Association of Realtors. The number of homes sold, year-to-date, also is at the highest level since 2007 and is up about 20 percent from this time last year.  (In 2013, more than 8,400 homes were sold; in 2007, 8,900 were sold.)

Buyers in most areas still have a good selection of homes and/or condos to choose from, the association said, with 6,900 properties currently for sale. At this time last year, 6,200 were available.

“Although we are not seeing an inventory shortage overall in Louisville, we are seeing shortages in some of the most popular neighborhoods,” said Board President Paul Ogden.

For qualified buyers, affordability is still high, with 30-year mortgage rates in the low-to-mid 4 percent range and 15-year rates in the mid 3 percent range, he said.

“Our members continue to be busy working with clients who want to lock-in today’s low rates before they move to 5 percent, as many economists predict will happen by the end of the year,” Ogden said.

July 2013

In July, 1,617 homes were sold in the Greater Louisville area, a 35 percent increase from July 2012. From Jan. 1 to July 31, 8,440 homes were sold, up from 7,077 homes sold in the same period last year – an increase of 19.26 percent.

The average selling price in July was $181,611, a 2.2 percent increase from July 2012. For the first seven months of 2013, the average selling price in the Greater Louisville area was $175,186.

Jefferson County

In July, 1,102 homes were sold, a 29.49 percent increase over July 2012. From Jan. 1 to July 31, 5,895 Jefferson County homes were sold, up from 5,000 homes sold in the same period last year – an increase of 17.9 percent.

The average selling price in July was $184,795, a 5 percent increase over the same period last year. For the first seven months of 2013, the average selling price was $176,432.

As of July 31, there were 4,113 active listings in Jefferson County.

Oldham County

In July, 105 homes were sold, a 26.51 percent increase over July 2012. From Jan. 1 to July 31, 551 Oldham County homes were sold, up from 484 homes sold in the same period last year – an increase of 13.84 percent.

The average selling price in July was $274,452, a 6.47 percent drop from the same period last year. For the first seven months of 2013, the average selling price is $271,241.

As of July 31, there were 450 active listings in Oldham County.

Bullitt County

In July, 133 homes were sold, a 104.62 percent increase over July 2012. From Jan. 1 to July 31, 587 Bullitt County homes were sold, up from 472 homes sold in the same period last year – an increase of 24.36 percent.

The average selling price in July was $153,297, a 1.4 percent drop from the same period last year. For the first seven months of 2013, the average selling price is $145,550.

As of July 31, there were 485 active listings in Oldham County.

lanereport.com

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