Average Price Up 4.8% and Volume Down 7.1% Year-To-Date
The Greater Louisville Association of Realtors® (“GLAR”) reported sales down 7.1% year-to-date versus 2018.At the same time, the average price was up 4.8%. In Jefferson County, the average price in March was$221,378 and the median was $177,000. For all MLS areas, the inventory of available properties was 4.8% higher than at the same time last year.
GLAR President Karen Story commented that, “Our members continue to see average priced homes sellquickly, making it good for sellers. New listings of homes in the mid and upper price ranges have alsoimproved buyer selection slightly in recent months. We anticipate the inventory to grow slightly heading into May.”
Lawrence Yun, Chief Economist of the National Association of Realtors said, “As a whole, the (sales)numbers indicate that a cyclical low in sales is in the past but activity is not matching the frenzied pace oflast spring.” In regard to interest rates, Yun added that “The expectation is no change in the current monetarypolicy, which will help mortgage rates stay at attractive levels.”
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