march 2012 release

8/2/2019 March 2012 Release

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All MLS Areas

March

2011

March

2012

%

Change

Jan. 1 - Mar.

31, 2011

Jan. 1 - Mar.

31, 2012

%

Change

Houses Sold 891 907 1.80% 2162 2420 11.93%

Averages Selling Price $152,840 $162,583 6.37% $153,428 $158,413 3.25%

Median Selling Price $130,000 $135,000 3.85% $129,250 $132,000 2.13%

# of Active Listings Placed into Pending Status During March 1224 1310 7.03%

Active Listings at March 31 7021 7557 7.63%

Overall Market Comment:Members of the Greater Louisville Association of Realtors® posted 907 sales during the month of March

2012, a 1.8% increase over March 2011. March’s total sales continued a nine-month trend of outpacing

the same period last year, which posted 891 sales during March 2011. The average selling price paid for

single family and condominium homes in March was $162,583, up $4,692 from February and was its

best monthly performance since September 2011. The March ’12 average selling price outperformed

March ’11 by 6.3%, or nearly $10,000. Average sales prices have retreated from the past 12 months

peak of $179,758 posted in July 2011, but remain above the past 12 months low which was posted in

March 2011 at $152,801. March 2012 beat the post peak (peak=2005-2007) 4-year same month average

(2008-2011) of $152,000 by over a 6% margin.

Inventory, or the number of homes listed for sale, increased to 7,557 units in March, an increase of 271

units over February and 226 units over January 2012. The number of homes for sale continues to exceed

a similar period last year, which posted 7,021 active listings for March 2011. That said, the 7.6% increase

in supply was balanced by a 7% increase in pending sales, when compared to a similar period in 2011.

GLAR’s inventory of active listings fell to an 8.3 month supply, from February’s 9.4 month supply;

inventory levels near a 6 month supply are often associated with an in-balance market.

Overall, the 1st quarter of 2012 posted positive gains in sales volume and average sales prices, when

matched against the 1st quarter of 2011. GLAR members posted a double digit gain in sales volume for

the first 3 months of the year, when compared to the 1st quarter of 2011. March was by far the

strongest month of the 1st quarter, posting a 15% increase over February and an 18% increase over

January. Market segment performance varies, but in sum, GLAR members are encouraged by the

positive streak of early 2012 data.

Greater Louisville Association of REALTORS, Inc.

Residential Sales Statistics

Single Family Residential & Condo



Jefferson County

March

2011

March

2012

%

Change

Jan. 1 - Mar.

31, 2011

Jan. 1 - Mar.

31, 2012

%

Chang

Houses Sold 621 620 -0.16% 1484 1680 13.21

Averages Selling Price $154,038 $162,291 5.36% $154,471 $155,782 0.85

Median Selling Price $127,500 $132,000 3.53% $127,000 $127,500 0.39



Jefferson County Market Comment:

Realtors® posted 620 sales in March in Jefferson County, a near match with March ‘11’s 621 sales.

March sales volume posted the strongest month of the 1st quarter, beating February by 84 units and

January by 95 units. For the month, the county’s average selling price posted a 5% increase over March

’11, to $162,291. The average sales price measured a 7% gain over February 2012, and broke a

downward trend that began in December ’11. The supply of homes on the market in Jefferson County

stands at 4,675 up 216 units from February and nearly 12% over a similar period last year. A growth in

active units placed in pending status for March offset the jump in inventory; pending sales grew by 178

units when matched against February, and outpaced March 2011 by nearly 11.8%. The current inventoryin Jefferson County stands at a 7.5 month supply, down from 8.3 last month. In sum, Realtors® were

enthused by the upward tick in average sales prices, which snapped a 3 month declining trend, and

welcome the strength March showed in the quarterly snapshot.

Oldham County

March

2011

March

2012

%

Change

Jan. 1 - Mar.

31, 2011

Jan. 1 - Mar.

31, 2012

%

Change

Houses Sold 41 67 63.41% 131 154 17.56%


Median Selling Price $234,000 $215,000 -8.12% $212,247 $215,000 1.30%

# of Active Listings Placed into Pending Status During March 82 74 -9.76%


Oldham County Market Comment:

The number of closed sales in Oldham County was up 63% when comparing March 2012 to March 2011

and up over 17% for the first quarter of the year. The average sales price remained steady when

compared to the prior year with the monthly average sales price at $238k and the 1st quarter of the year

at $241K. While monthly comparisons of median selling price showed a decline of 8%, the median price

for the 1st quarter rose slightly with a 1% increase. The number of sales going under contract in March

2012 was lower than March 2011 by 9.8% and the inventory of unsold homes remained higher than last

year by 9%.

Bullitt County

March

2011

March

2012

%

Change

Jan. 1 - Mar.

31, 2011

Jan. 1 - Mar.

31, 2012

%

Change

Houses Sold 79 62 -21.52% 172 182 5.81%


Median Selling Price $115,000 $123,900 7.74% $120,750 $129,975 7.64%





Bullitt County Market Comment:

Realtors® posted 62 closed sales in Bullitt County in March, an increase of 1 sale from February, and 3

units from January. March 2012 volume fell below March 2011, but an increase in the average sales

price to $133,900, from $127,207 was encouraging. Supply, or the number of homes on the market,

increased to 542, from 526 units in February and 522 units in January, reflecting an 8.7 month inventory.

GLAR Contact Information:

Louise Miller Lisa Stephenson

President Executive Vice President

(502) 897-3321 (502) 894-9860

march 2012 release

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