Louisville real estate | Homes sales hallelujah? - Louisville Courier-Journal (blog)

Though deadlines were extended, all the tax credit deals were pretty much closed by June 2010. There were 26 percent more houses and condos on the market on July 31 than a year earlier. For the year, July ranked 2nd to June which recorded 1,137 closed units. The July sales figures also broke a trend of declining monthly sales, when matched against 2010 numbers. Realtors® may be quietly putting the Home Buyer Tax Credit sales figures into the history books, as they move to a post HBTC market. The average selling price for July 2011 was $179,758, up 2. Inventory, or the number of homes for sale, declined slightly to 9,295, from 9,313 in June. Overall, GLAR members are encouraged by the strength of the July market figures and are looking forward to a continuation of the seasonable increases associated with the July/August market period. The average selling price in the county improved to $173,186 for July 2011, when compared to $171,154 for June 2011. Year-to-date sales, in the county, stand at 4,326 units, down 15% from a similar period last year. The average and median prices in July 2011 vs 2010 are up 29% and 36% respectively, reflecting the sale of some higher priced homes that had not sold in the Spring market. The YTD average and median figures were up a more modest 8% and 4% respectively and are less volatile than a single month data point. The number of sales going under contract was up 10% and the inventory of unsold homes remained higher than last year by 16%. Continued low mortgage rates will be the key factor in the resumption of a balanced market in Oldham County, as it will be with the broader Louisville market. The average selling price in the county for July was $151,692, down from June's $154,908, but up 11% from July 2010. Year-to-date sales, in the county, stand at 422 units, down 15% from a similar period in 2010. Supply, or the number of homes on the market, has fallen to 616 units, down 11 units from June, but up nearly 18% from a similar period in 2010. Get your local newspaper delivered daily or weekends to your door. Click here for subscription information and special deals. Otts joined the C-J business desk in August 2009 after three years covering eastern Jefferson County for the paper's Neighborhoods section. Realtors