LBAR announces $57.5 million in Scott County real estate sales as of June 30, 2010
July 13th, 2010
Residential real estate sales by members of the Lexington-Bluegrass Association of REALTORS® (LBAR) positively impacted the Scott County economy as of June 30, 2010 with 336 reported sales totaling $57,575,009. Sales continue to be a driving force in the Scott 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 saw an impressive gain in June 2010 when compared to June 2009. Sales reported increased 82 percent, jumping from 49 sales reported in June 2009 to 89 sales reported in June 2010. Residential sales in Scott County also increased 21 percent during the year-to-date 2010 (336 units sold) when compared to the year-to-date 2009 (277 units sold). The median sales price increased 2 percent during the same time period to $145,957.
The months of inventory in Scott County decreased 38 percent to 7.1 months. This decrease is a positive indicator. A balanced 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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