Greater Louisville Association of Realtors®
Residential Sales Statistics
Single Family Residential & Condo
Average Price Up 5.1% and Volume Down 8.8% Year-To-Date
The Greater Louisville Association of Realtors® (GLAR) reported sales down 8.8% year-to-date versus 2018. At the same time, with continued low interest rates, the average price was up 5.1%. In Jefferson County, the average price in February was $218,595 and the median was $175,000. For all MLS areas, the inventory of available properties was 4.1% higher than at the same time last year.
GLAR President Karen Story commented that, “Our members are now seeing the typical early spring pick-up in listings and showings. We continue to see move-in ready, moderately priced homes sell quickly. Homes that are priced slightly above market value will sit for longer periods.”
Lawrence Yun, Chief Economist of the National Association of Realtors® commented that the fundamentals of the 2019 housing market are strong. The Federal Reserve looks to remain “patient” regarding any future interest rate hikes and income growth is catching up to home price growth. One area that he is keeping his eye on is the auto loan default rate, which has ticked up in recent months.