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For Immediate Release

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

 
October Home Sales Up 5.8% with Average Price Up 8.8% with Level Inventory

Louisville, KY (November 19, 2021)
- The Greater Louisville Association of Realtors® (GLAR) reported year-to-date sales volume up 5.8%. October sales were down 3.6% compared to last October when the market saw significant pent-up demand from the impact of Covid-19 in the first half of 2020.

The average price was up 8.8% year-to-date, compared to last year. In Jefferson County, the average price was $278,361 and the median was $230,000. For all MLS areas, the inventory of available properties was just 0.2% higher than at the same time last year.

GLAR President Paula Barmore commented that, “The sellers market continues for move-in ready homes in the median price range. Showing activity typically slows a bit approaching the holidays.” She added that, “We’re hoping for slightly more inventory in the first part of 2022, as sellers become more comfortable with the idea of moving.”

The Chief Economist for the National Association of Realtors (NAR) Lawrence Yun noted that, “Just as the for-sale market is starting to moderate the rental market is heating up.” He cited the improving jobs market and higher prices for starter homes as the two main drivers in the rental market. Yun reiterated that there is a “massive housing shortage” and that “America needs more homes, both for ownership and for rent.” He stressed that, “New construction alone will not fill the need. Rehabbing dilapidated homes and repurposing commercial buildings into residential units is essential.”


Click here for more GLAR real estate statistics.
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 develops 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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