LBAR announces $15.6 million in Montgomery County real estate sales as of September 30, 2011
October 31st, 2011
Residential real estate sales by members of the Lexington-Bluegrass Association of REALTORS® (LBAR) positively impacted the Montgomery County economy as of September 30, 2011 with 171 reported sales totaling $15,635,207. Sales continue to be a driving force in the Montgomery County economy when considering the multiplier effect on the area of buyers and sellers who purchase appliances, carpet, flooring, landscaping, etc in response to their transaction needs.
Single family residential sales increased a dramatic 77 percent in September 2011 with 23 reported sales; there were 13 reported sales in September 2010. Months of inventory fell 50% in September 2011 from 22.5 months to 11.2. This decrease is a positive indicator. A balanced market contains 5-6 months of inventory.
During the year-to-date 2011 residential sales increased 4 percent, rising from 164 during the year-to-date 2010 to 171 in 2011.
As the region’s leading advocate for homeownership, Lexington-Bluegrass Association of REALTORS® (LBAR) understands the value and joy of owning a home. LBAR represents more than 2,000 REALTORS® located in Anderson, Bourbon, Clark, Fayette, Franklin, Jessamine, Montgomery, Nicholas, Powell, Scott and Woodford Counties. Visit www.lbar.com or call 859-276-3503 for buying and selling resources and real estate listings. For additional information please contact Elaine Hangis, LBAR executive vice president (859-276-3503 or via e-mail, Elaine@lbar.com).
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