LBAR announces $7.8 million in Bourbon 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 Bourbon County economy as of June 30, 2010 with 66 reported sales totaling $7,805,590. Sales continue to be a driving force in the Bourbon 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 single family properties increased 40 percent for the year-to-date 2010. Units reported sold increased from 47 in the first six months of 2009 to 66 in the first half of 2010. Average days on market fell 13 for the same time period, decreasing from 101 in the year-to-date 2009 to 88 days in the year-to-date 2010.
Sales in June 2010 also increased when compared to June 2009. Residential sales increased 40 percent, rising from 10 in June 2009 to 14 reported sales in June 2010. Months of inventory in Bourbon County fell 22% during June to 8.4 months. This decrease is a positive indicator. A balanced market should contain 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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