Lexington-Bluegrass Association of Realtors (LBAR) reported 809 real estate sales totaling $142,977,339 in April 2013, according to a press release from the organization.
April real estate statistics for the Bluegrass contain other indicators. Pending inventory increased 20 percent over April 2012, rising from 816 to 977 pending sales reported. Residential sales saw a gain in April, increasing 23 percent over April 2012 from 607 to 745 sales closed. Residential average days on market decreased 18 percent for the same time period, falling from an average of 102 days to 84 days. The median sales price increased 8 percent to $145,500 in April 2013 compared to $135,000 in April 2012.
LBAR President Al Blevins stated,“The real estate market continues to show positive signs in the Bluegrass Area with the continuance of historic low interest rates, and the strengthening of the local economy. ... A nationwide challenge that continues to cause some concern is the declining home listing inventories. However, an encouraging fact that may help is that hesitant home sellers are encouraged to list their homes now that home prices are starting to increase more than originally forecasted for 2013."
The inventory of homes on the market in central Kentucky decreased 5 percent over April 2012 from 6,103 to 5,813. New inventory for the month jumped 7 percent from March, increasing from 5,445 to 5,813.
Residential sales closed also increased during the year-to-date 2013 vs. the year-to-date 2012. Sales increased 22 percent from 2,042 to 2,492 sales reported closed. The median sales price increased 7 percent for the same time period from $131,000 to $139,900. Average days on market decreased 14 percent during the year-to-date from 101 to 87.