LBAR announces $3.3 million in Nicholas 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 Nicholas County economy as of September 30, 2011 with 37 reported sales totaling $3,278,850. Sales continue to be a driving force in the Nicholas 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 dramatically during September 2011 with 7 reported sales compared to zero sales reported in September 2010. The median sales price in September 2011 was $82,900. The average days on market for the same time period was 59 days. Months of inventory plummeted 89% in September from 59 to 6.7 months. This decrease is a very positive indicator. A balanced market contains 5-6 months of inventory.
Sales also increased during the year-to-date 2011. The 37 reported sales resulted in a 42% increase over the 26 reported sales in the year-to-date 2010. The median sales price for the same time period increased 8% from $72,000 to $77,500.
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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