LBAR announces $99.6 million in 2009 real estate sales for Madison County
Jan 28th, 10
Residential real estate sales by members of the Lexington-Bluegrass Association of REALTORS® (LBAR) positively impacted the Madison County economy in 2009 with 605 reported sales totaling $99,576,437. 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 in Madison County increased 4% for the year 2009 vs. 2008, increasing from 579 sales closed to 605. The median home sales price in Madison County increased 4% in December 2009 vs. December 2008. Average days on market declined 15% for the same time period. Madison County also saw a 16% decrease in months of inventory, falling from 11.3 to 9.5. 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® 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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