LBAR announces $66.2 million in Jessamine 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 Jessamine County economy as of September 30, 2011 with 377 reported sales totaling $66,198,292. Sales continue to be a driving force in the Jessamine 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 increased 56 percent in September 2011 vs. September 2010 rising from 27 sales reports to 42. The median sales price remained stable during the same time period, decreasing just 4 percent to $122,275. Months of inventory decreased 38 percent to 11.4 months. This decrease is a positive indicator; a balanced market contains 5-6 months of inventory. Pending sales increased 53% from 36 to 55 pending sales reported.
Single family residential sales increased 2 percent during the year-to-date 2011 rising from 370 reported sales in 2010 to 377 in 2011.The median sales price decreased 7 percent to $125,000 during the year-to-date 2011 in Jessamine County.
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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