The Greater Owensboro Realtor Association announced a five-year record for July home sales, reporting more than $34 million in sales volume for the month. Representatives with GORA cited historic lows for mortgage rates and inventory as causing higher-than-normal demand for homebuyers.
GORA’s reports show that units sold during the month of July (192) exceeded the number sold in each of the first six months this year, many of which saw record-breaking sales volumes as well.
“Our membership reports being busier than ever, and the stats tell the same story,” said Karen Gross, president of GORA. “July 2020 saw a five-year high of 192 homes sold. With over $34 million in sales volume, July 2020 was almost $10 million ahead of last year.”
The average price homes sold for in July 2020 ($178,776) also surpassed July 2019 ($158,522) by $20,000 a unit, adding to the overall increase in sales volume from year to year.
The number of active listings in July 2020 was 236 less than the number of active listings in July 2019.
“Inventory and mortgage rates continue to be at historical lows. Demand is high and homes entering the market are often under contract in just a few days,” said Jason Bellamy, GORA’s president-elect.
