Home Sales on the rise again

The Greater Louisville Association of Realtors has reported that year-to-date sales of homes in Jefferson, Oldham and Bullitt counties were up 6.6 percent, compared to the same time last year.

Sales in September 2016 were up 7.7 percent ahead of September 2015, with 1,600 homes and condos sold.  The median price was up 4.8 percent YTD and the average was 3 percent higher, year to date.

In Jefferson County, the average price in September 2016 was $205,975 and the median was $167,000.  For the three counties, the inventory of available properties was 22.5 percent lower than at the same time last year.  In Jefferson County, the inventory of homes and condos for sale was 23.7 percent lower than September 2015.

Association President Allison Bartholomew said, “The tight inventory of starter homes continued during September, translating into quick sales. At the same time, activity at the higher end was at a more moderate pace.  Our members are looking forward to a healthy fall market with reasonable gains in sales and prices.”

The National Association of Realtors Chief Economist Lawrence Yun said, “Healthy labor markets in most of the country should be creating a sustained demand for home purchases.  However, there’s no question that after peaking in June, sales in a majority of the country have inched backwards because inventory isn’t picking up to tame price growth and replace what’s being quickly sold.”

The National Association of Home Builders Chairman Ed Brady said that “as household incomes rise, builders in many markets across the nation are reporting that they are seeing more serious buyers, a positive sign that the housing market continues to move forward.”

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