The Greater Owensboro REALTOR Association’s May housing report shows that the local housing market remains hot.
The average sold price for May was $209,363 — a 6% increase over the previous month.
Sales volume totaled $38.1 million — more than double May 2020, when the real estate industry began feeling the effects of the initial shutdowns from COVID-19 — marking a 16% increase over April 2021.
The average number of days on the market for a home dropped to 55.
“Homeowners continue to gain equity in their homes as values increase and demand remains strong,” said Jason Bellamy, President of GO REALTORS. ”Those who need or want to sell homes in this environment are in a position to earn a good return on their investment.”
There were 182 homes sold in May, with 194 sales pending. The current inventory of homes remains a challenge, with 129 active listings.
“We continue to see multiple offers on properties and homes going for more than asking price,” said GO REALTORS President-elect, Michelle Wiesman. “It is more important than ever to have a knowledgeable professional to help you navigate this market.”
