Local Market

Greater Louisville Association of Realtors®

Residential Sales Statistics

Single Family Residential & Condo

2020 Home Sales Up 2.8% with Average Price Up 9% and 44% Less Inventory

The Greater Louisville Association of Realtors® (‘GLAR”) reported sales volume up 2.8% year-to-date versus last year. Sales in November 2020 were up 13.3% compared to November 2019.

The average price was up 9% year-to-date versus 2019. In Jefferson County, the average price was 256,452
and the median was $218,000. For all MLS areas, the inventory of available properties was 44% lower than
at the same time last year.

GLAR President Judie Parks commented that, “New listings are being absorbed by the market very quickly, even through the Thanksgiving holidays. Sellers of starter and move-up homes, that are correctly priced, are still receiving multiple offers.”

The Chief Economist for the National Association of Realtors®, Lawrence Yun, recently commented that he expects that national 2020 sales will finish up 3-5% with prices up 7-9%. He is forecasting 2021 sales volume up 5-10% and price appreciation of 3-5%, citing the covid vaccine and continued low interest rates as primary drivers to the housing market.