LBAR announces $723.9 million in 2009 real estate sales for Fayette County
Jan 28th, 10
Residential real estate sales by members of the Lexington-Bluegrass Association of REALTORS® (LBAR) positively impacted the Fayette County economy in 2009 with 3,926 reported sales totaling $723,927,067. 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 rose 13% in Fayette County in December 2009 vs. December 2008. Median sales prices in Fayette County remained stable for the year, falling only 4% in 2009 vs. 2008, and increasing 1% in December 2009 vs. December 2008. Average days on market also fell 3% for 2009 and 20% in December 2009 vs. December 2008. Fayette County also saw a 15% decrease in months of inventory from 10.5 to 8.9. This 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® (LBAR) understands the value and joy of owning a home. LBAR represents more than 2,000 REALTORS® located in Anderson, Bourbon, Boyle, Clark, Fayette, Franklin, Garrard, Harrison, Jessamine, Madison, Mercer, 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.
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