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A cold stretch in the middle of February shook up the real estate market. Showings plunged during the middle of the month when a winter ice storm shut down Central Kentucky. For a two-week period, showings were less than the averages in both 2019 and 2020, and February ended with a 16 percent dip in foot traffic. By the end of the month, however, showings were back above the numbers seen over the previous two years.
Continuing a long-term commitment to healthy communities for central Kentucky homeowners, the Lexington-Bluegrass Association of REALTORS® (LBAR) announced its $2,000 investment in the Richmond Industrial Development Corporation. Over the past 17 years, LBAR has made available close to $600,000 to promote economic development across central Kentucky.
The first month of the new year saw colder temperatures but hotter activity compared to 2020. Total home sales reached 939 in January compared to 828 during January last year, an increase of 13 percent. Transactions in January were the highest monthly total on record, breaking the previous record from 2020. Both single-family homes and townhouse/condo saw a sales increase of 13 percent for the month, matching the overall sales tally for January.
Kristy Gooch was installed as the 2021 president of the Lexington-Bluegrass Association of REALTORS® (LBAR). She has been a member of LBAR for over 20 years, served on the LBAR Board of Directors and was elected as treasurer in 2018. She has participated on numerous committees and task forces including MLS, professional standards and technology. In 2012, Gooch was selected as the Good Neighbor Award recipient for LBAR.
The Lexington-Bluegrass Association of REALTORS® (LBAR) presented its highest awards for 2020 at the recent Kick Off: Installation and Member Recognition Meeting – REALTOR® of the Year, Good Neighbor and Distinguished Service – honoring outstanding REALTORS® within the Association.
Real estate sales shattered previous records in 2020 despite an ongoing pandemic. Transactions topped last year’s totals by 8 percent, hitting 15,309 in 2020 compared to 14,153 in 2019. For the month, December saw a monthly record of 1,284 sales, outpacing the previous year by 22 percent when sales were 1,054. With the exception of the second quarter (April through June), each month in 2020 tallied record high transactions and all exceeded previous year totals aside from April and May when the initial effects of the slowdown hit the economy.
Housing demand, coupled with record low interest rates, have positively impacted home sales in the Central Kentucky region for several years. And 2020 is not an exception. Transactions in November spiked 19 percent for the month over the same time last year, with 1,195 total sales versus 1,002 in 2019. The monthly total is a record for the month and pushed sales for the year up 7 percent.
The Lexington-Bluegrass Association of REALTORS® (LBAR) held a Day of Giving to support local charities during the holiday season. The project, coordinated through the Community Education & Outreach Committee of LBAR, selected 10 organizations and awarded each with a $500 donation to help cover necessary costs during a time of the year when funding is needed the most.