Residential real estate sales by members of the Lexington-Bluegrass Association of Realtors (LBAR) decreased by three percent in 2017, slipping from a total of 5,501 sales in 2016 to 5,328 sales in 2017. During the same time, the median sales price increased six percent, from $175,000 in 2016 to $186,000 in 2017.
The average days on the market for homes listed through LBAR decreased by 15 percent, from 40 days in 2016 to 34 days in 2017.
The total economic impact of all residential real estate sales completed by LBAR members in 2017 was $1,231,435,452, according to statistics released in January by the association.
LBAR also reported that month-over-month residential sales in Fayette County decreased 14 percent from December 2016, with 410 sales compared to 351 sales in December 2017. Pending sales decreased from 274 in December 2016 to 251 pending sales reported in December 2017, and the median sales price increased from $180,000 in December 2016 to $189,000 in December 2017. New listings decreased 12 percent, from 259 new listings in December 2016 to 228 new listings in December 2017.