LBAR announces $8.8 million in Madison County real estate sales for the 1st Quarter 2010
April 12th, 2010
Residential real estate sales by members of the Lexington-Bluegrass Association of REALTORS® (LBAR) positively impacted the Madison County economy in the first quarter of 2010 with 63 reported sales totaling $8,822,150. Sales continue to be a driving force in the Madison 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 11% in Madison County during March 2010 (41 units sold) when compared to March 2009 (37 units sold). Average days on market fell 14% for the same time period and 6% during the year-to-date 2010 vs. year-to-date 2009. The months of inventory fell 15% to 13.2. 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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