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Last April, home sales tumbled as the onset of the pandemic struck the real estate market. Property showings slipped away as quarantine orders were put in place and real estate activities were in limbo. Fast forward to 2021, and April saw home sales jump to a new monthly high of 1,216, an increase of 26 percent from 2020 when they were 968.
As part of Fair Housing Month, the Lexington-Bluegrass Association of Realtors® (LBAR) recently provided a $1,000 grant to the North Limestone Community Development Corporation. The grant will be used to help support the Julietta Market, a 23,000 square foot year-round multi-vendor public market that opened in late 2020 in the heart of the historic Southeast Greyhound Building on the corner of N. Limestone and Loudon Avenue. In addition, LBAR setup a temporary booth at the Julietta Market to provide home buying and selling resources and information on the advantages to owning a home. Members of LBAR were also available to discuss the current real estate market.
One year ago, when the COVID pandemic hit, real estate saw a market slowdown in Central and Southeastern Kentucky. This year, the market has hit its stride going into the typical spring season.
“Last year, in the middle of March, property showings had a steep drop off in activity due to the quarantine orders,” said Kristy Gooch, president of the Lexington-Bluegrass Association of REALTORS® (LBAR). “This year, we saw just the opposite. Showings spiked in the second week and continued through the end of the month. Buyers are certainly active in the market.”
The Lexington-Bluegrass Association of Realtors® (LBAR) is recognizing Fair Housing Month this April by providing home buying and selling resources to visitors of Julietta Market. The public market is located inside Greyline Station, Lexington’s former bus garage at the corner of Limestone and Loudon. Realtor® associations around the country are commemorating the 53rd anniversary of the passage of the Fair Housing Act in effort to further nationwide progress toward ending housing discrimination in the United States.
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.