According to a report in the Courier-Journal Wednesday, January 16th Louisville area home sales are up in 2012. The Greater Louisville Association of Realtors stated that 12,724 homes were sold in the Louisville market last year, a 16% increase over 2011. Last year’s sales were at a median price of $140,000, a figure slightly higher than 2007 when sales were $139,000. Last year’s sales are 4.4% greater than the 2011 median price.
The article states that the increase in home sales and median price can be accredited to low interest rates, an increase in jobs in the Louisville market, and the new formation of households. Louisville’s statistics are slightly better, but on par with national statistics provided by the National Association of Realtors, which shows home sales improving by more than 14%. The local statistic includes the sales of new construction; however, the national figure does not.
This is very positive news for the Louisville area housing marketing and economy. To read the complete story in today’s Courier-Journal, click here.