LOUISVILLE, Ky. (WDRB) --  The Louisville-area home market posted solid gains in sales and prices in 2015, according to year-end figures released Monday by the Greater Louisville Association of Realtors.

The association said its member agents sold 12 percent more houses and condos in 2015 than in 2014, while median sales price of $155,500 was up nearly 6 percent in 2015 from the year before.

The statistics reflect residential sales mainly in Jefferson, Bullitt and Oldham counties, and exclude sales not brokered by real estate agents.

Perhaps the key factor driving the market in 2015 was a significant decrease in the number of homes listed for sale, meaning fewer choices for buyers.

This summer, the number of homes on the Louisville market dropped to a 10-year low relative to the pace of sales, as WDRB reported in September.

The trend continued in December, the association reported Monday, as the number of properties on the market was down 21 percent from a year earlier.

Some reasons for the trend include a sharp downturn in new home construction since the 2007-2009 economic recession, a shift from owning to renting and owner-occupants staying in their homes longer.

In 2015, Jefferson County posted the biggest gain in sales at 13 percent. The median sale in Jefferson County was $152,500. In Bullitt County, where the median price was $153,900, sales were up 12 percent. In Oldham County (median price $255,000), sales were up 8 percent.

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