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For Immediate Release

Contact:
Paula Barmore, (502) 905-7724
Lynda Fernandez, (502) 894-9860

 
January 2022 Home Sales Down 9.3% with Average Price Up 6.9% and 17.5% Less Inventory

Louisville, KY (February 21, 2022)
- The Greater Louisville Association of Realtors® (GLAR) reported January 2022 sales volume down 9.3% versus January 2021.  1084 homes and condos sold last month, versus 1196 one year ago.

The average price was up 6.9% for the Multiple Listing Service as a whole. In Jefferson County, the average price was $255,804 and the median was $215,000. For all MLS areas, the inventory of available properties was 17.5% lower than at the same time last year.
GLAR President Paula Barmore commented that, "The recent tick up in mortgage rates may have had some effect on the dip in sales volume, but the primary driver is the low inventory of homes for sale." She added, "We should see some buyers get serious about securing a home in early spring before rates go up further."

Lawrence Yun, the Chief Economist for the National Association of Realtors® (NAR) noted, "Increases in mortgage rates will hamper affordability in 2022, especially for first time buyers. Investors and move-up buyers will be less affected." Yun anticipates a 2% decrease in homes & condos sold in 2022, with prices up 4%.

Click here for more real estate market statistics from GLAR.
The Greater Louisville Association of REALTORS® (GLAR) is the “The Voice for Real Estate” in the Greater Louisville Area. As the local arm of America’s largest trade association, the National Association of REALTORS®, GLAR represents more than 5000 members involved in all aspects of the residential and commercial real estate industries. GLAR organizes advocacy efforts on legislative issues that impact the real estate profession and homeownership, offers professional development, and plans community outreach projects throughout the year so its members can give back to the community where they live and work. For more information, visit LouisvilleRealtors.com or call 502-894-9860.

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Greater Louisville Association of REALTORS |12300 Sycamore Station Place, Louisville, KY 40299

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