Greater Louisville Association of REALTORS, Inc.

Residential Sales Statistics Single Family Residential & Condo

All MLS Areas Houses Sold Averages Selling Price Median Selling Price # of Active Listings Placed into Pending Status During March Active Listings at March 31

March 2011 891 $152,840 $130,000 1224 7021

March 2012 907 $162,583 $135,000 1310 7557

% Change 1.80% 6.37% 3.85% 7.03% 7.63%

Jan. 1 - Mar. 31, 2011 2162 $153,428 $129,250

Jan. 1 - Mar. 31, 2012 2420 $158,413 $132,000

% Change 11.93% 3.25% 2.13%

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. Marchs 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. GLARs inventory of active listings fell to an 8.3 month supply, from Februarys 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.

Jefferson County Houses Sold Averages Selling Price Median Selling Price # of Active Listings Placed into Pending Status During March Active Listings at March 31

March 2011 621 $154,038 $127,500 851 4175

March 2012 620 $162,291 $132,000 952 4675

% Change -0.16% 5.36% 3.53% 11.87% 11.98%

Jan. 1 - Mar. 31, 2011 1484 $154,471 $127,000

Jan. 1 - Mar. 31, 2012 1680 $155,782 $127,500

% Change 13.21% 0.85% 0.39%

Jefferson County Market Comment: Realtors posted 620 sales in March in Jefferson County, a near match with March 11s 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 countys 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 inventory in 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 Houses Sold Averages Selling Price Median Selling Price # of Active Listings Placed into Pending Status During March Active Listings at March 31

March 2011 41 $238,765 $234,000 82 430

March 2012 67 $238,816 $215,000 74 469

% Change 63.41% 0.02% -8.12% -9.76% 9.07%

Jan. 1 - Mar. 31, 2011 131 $240,929 $212,247

Jan. 1 - Mar. 31, 2012 154 $241,208 $215,000

% Change 17.56% 0.12% 1.30%

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%.
March 2011 79 $127,207 $115,000 75 500 March 2012 62 $133,900 $123,900 82 542 % Change -21.52% 5.26% 7.74% 9.33% 8.40% Jan. 1 - Mar. 31, 2011 172 $132,148 $120,750 Jan. 1 - Mar. 31, 2012 182 $133,402 $129,975 % Change 5.81% 0.95% 7.64%

Bullitt County Houses Sold Averages Selling Price Median Selling Price # of Active Listings Placed into Pending Status During March Active Listings at March 31

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 President (502) 897-3321

Lisa Stephenson Executive Vice President (502) 894-9860