Greater Louisville's Real Estate Market Gains Offer Hopeful Sign for 2025
Louisville, KY (January 31, 2025) - The Greater Louisville real estate market continues to display resilience and growth, as highlighted in the December 2024 market statistics released by the Greater Louisville Association of REALTORS®. Key indicators show positive trends, providing a promising outlook for buyers and sellers leading into 2025.
Total existing home sales, including single-family homes, condominiums, and townhomes, increased 4.6% from 1,047 in December 2023 to 1,095 in December 2024.
The median home sale price in December was $275,000, up 6.0% from $259,450 in December 2023. The average home sale price was $334,187 up 9.4% from $305,561 in December 2023.
Total housing inventory increased 19.3% to 2,681 at the end of December from 2,247 in December 2023.
In December, months’ supply of homes in the Greater Louisville market increased 15.8% to 2.2, from 1.9 in December 2023. Typically, a balanced real estate market offers between six and nine months of supply. Nationally, there was a 3.3-month supply of housing inventory down from 3.8, according to the National Association of REALTORS® (NAR).
"Home sales in the final months of the year showed solid recovery despite elevated mortgage rates," said NAR Chief Economist Lawrence Yun. "Home sales during the winter are typically softer than the spring and summer, but momentum is rising with sales climbing year-over-year for three straight months. Consumers clearly understand the long-term benefits of homeownership. Job and wage gains, along with increased inventory, are positively impacting the market."
According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.95% as of January 30. That's down from 6.96% one week ago and up from 6.75% one year ago.
The average cumulative days on the market were 45 days in December, a 2.3% increase compared to a year earlier. The average percentage of list price received in December inched up .5% to 98.3%.
December Local Housing Statistical Reports by County:
Entire-MLS
Breckinridge-County
Bullitt-County
Grayson-County
Hardin-County
Henry-County
Jefferson-County
Meade-County
Nelson-County
Oldham-County
Shelby-County
Spencer-County
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