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September showed continued growth for local housing market

October 11, 2020 | 12:08 am

Updated October 10, 2020 | 4:20 pm

Graphic by Owensboro Times

September proved to be yet another strong month for the Greater Owensboro REALTOR Association. Officials said the average price of homes sold continues to rise, average days on the market remains low and total sales volume soars for the local housing market.

Sales volume surged to $36.5 million, up 52% from this time last year ($24.1 million). This is also a 16% increase from last month ($31.4 million).  

“We are definitely seeing a rebound from the pandemic and REALTORS are there to assist buyers and sellers,” said Karen Gross, President of GO REALTORS. “Low interest rates continue to allow homebuyers to buy more house. We are also seeing a shortage of inventory with the days on market being consistently low.” 

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A total of 161 homes were sold in September, while 182 were pending. For the last three months, homes are staying on the market for an average of 71 days. 

“Two of the biggest factors for this trend are limited inventory levels in certain price ranges and homebuyers looking to purchase while the mortgage interest rates remain low,” said Jason Bellamy, President-Elect of GO REALTORS.

Another high point for the month of September is the average selling price of $227,026. That is a 44% increase from 2019 ($157,686) and a 32% increase from this August ($171,771). 

October 11, 2020 | 12:08 am

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