LBAR announces $18.5 million in Jessamine County real estate sales for the 1st Quarter of 2010
April 12th, 2010
Residential real estate sales by members of the Lexington-Bluegrass Association of REALTORS® (LBAR) positively impacted the Jessamine County economy in the first quarter of 2010 with 111 reported sales totaling $18,484,177. Sales continue to be a driving force in the Jessamine 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.
Jessamine County residential sales increased both during the year-to-date 2010 and March 2010 when compared to 2009. Sales increased 39% for the 1st quarter 2010 (111 units sold) when compared to the 1st quarter 2009 (80 units sold). Sales increased 73% in March 2010 (45 units sold) when compared to March 2009 (26 units sold).
Median sales prices for the first quarter 2010 vs. 2009 increased 1% and remained stable for March 2010 vs. March 2009. Average days on market fell 32.8% in the first quarter 2010 vs. 2009 in Jessamine County. Months of inventory decreased significantly, falling 47% to 10.4 months. This decrease is a positive indicator; a balance market contains 5-6 months of inventory.
As the region’s leading advocate for homeownership, Lexington-Bluegrass Association of REALTORS® understands the value and joy of owning a home. LBAR represents more than 2,300 REALTORS® located in Anderson, Bourbon, Boyle, Clark, Fayette, Franklin, Garrard, Harrison, Jessamine, Madison, Mercer, Montgomery, 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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