LBAR announces $39.8 million in Woodford County real estate sales in 2011
January 24th, 2012
Residential real estate sales by members of the Lexington-Bluegrass Association of REALTORS® (LBAR) positively impacted the Woodford County economy as of December 31, 2011 with 232 reported sales totaling $39,807,217. Sales continue to be a driving force in the Woodford 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 in Woodford County increased 2 percent in 2011 vs. 2010, rising from 228 units reported sold to 232 in 2011. The median sales price dropped slightly for the year, falling 8 percent from $168,125 to $155,000.
Sales in December 2011 increased 5 percent over December 2010, rising from 19 to 20 reported sales. The months of inventory in Woodford County decreased 15 percent to 9.5 months. This decrease is a positive indicator, a balances market contains 5-6 months of inventory. The median sales price for the same time period decreased 4 percent from $164,250 to $157,450.
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 1,900 REALTORS® located in Anderson, Bourbon, Clark, Fayette, Franklin, Jessamine, Montgomery, Nicholas, Powell, Scott and Woodford. 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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