LBAR announces $383 million in Fayette real estate sales as of June 30, Sales increase
July 13th, 2010
Residential real estate sales by members of the Lexington-Bluegrass Association of REALTORS® (LBAR) positively impacted the Fayette County economy as of June 30, 2010 with 2,079 reported sales totaling $383,329,156. Sales continue to be a driving force in the Fayette 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.
Residential single family sales increased 23% during year-to-date 2010 (2,079 units sold) vs. year-to-date 2009 (1,695 units sold). The average days on market dropped 9% to 71 days, and the median sales price remained unchanged for the same time period at $150,000.
During June 2010 vs. June 2009, residential median sales prices remained stable, holding steady at 154,750. Fayette County also saw the months of inventory remain under the six month mark at 5.9. This is a positive indicator; a balance market should contain 5-6 months of inventory. The percentage of list price attained in Fayette County increased 3% to 97.49 in June 2010.
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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