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LBAR announces $8.3 million in Montgomery County real estate sales in first quarter 2017

Residential real estate sales by members of the Lexington-Bluegrass Association of REALTORS® (LBAR) positively impacted the Montgomery County economy in first quarter 2017 with 60 reported sales totaling $8,321,837. Sales continue to be a driving force in Montgomery County economy.

Residential sales increased 28 percent from 47 sales reported in first quarter 2016 to 60 sales reported in first quarter 2017. The median sales price increased four percent from $115,000 in first quarter 2016 to $120,000 in first quarter in 2017. The average days on the market decreased 20 percent from 105 days in first quarter 2016 to 84 days in first quarter 2017.

Residential sales in Montgomery County increased 24 percent from March 2016 with 21 sales compared to 26 sales in March 2017. Pending sales decreased from 43 in March 2016 to 37 pending sales reported in March 2017. The median sales price had increased from $89,000 in March 2016 to $169,950 in March 2017. New listings decreased 15 percent from 55 new listings in March 2016 to 47 new listings in March 2017.

As the region’s leading advocate for homeownership, Lexington-Bluegrass Association of REALTORS® (LBAR) understands the value and joy of owning a home. LBAR represents more than 2,900 REALTORS® located in Anderson, Bath, Bell, Bourbon, Clark, Clay, Elliott, Fayette, Franklin, Harrison, Jackson, Jessamine, Knox, Laurel, Menifee, Montgomery, Nicholas, Powell, Rowan, Scott, Whitley, and Woodford Counties. Visit www.lbar.comor call 859-276-3503 for buying and selling resources and real estate listings. For additional information please contact Elaine Hangis, LBAR Chief Executive Officer (859-276-3503 or via e-mail, elaine@lbar.com).

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