LBAR announces $487 million in Fayette 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 Fayette County economy as of September 30, 2011 with 2,617 reported sales totaling $486,854,699. 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 sales in September 2011 vs. September 2010 increased 19% to 269 sales reported. There were 226 sales reported in September 2010. The median sales price also increased in September, rising 6% from $155,125 to $165,000. The median sales price increased 6 percent in September 2011, rising from $155,125 to $165,000. Average days on market in Fayette County decreased 6 percent from 68 to 64 days.
Months of inventory decreased 22 percent to 9.4 months. This decrease is a positive indicator; a balanced market contains 5-6 months of inventory.
Residential single family sales decreased 9% during the year-to-date 2011 with 2,617 sales reported vs. 2,889 in the year-to-date 2010. The median sales price increased 1% to $153,000.
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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