Residential real estate sales by members of the Lexington-Bluegrass Association of Realtors (LBAR) totaled over $1 billion in July 2013, according to a press release from the organization.
The total was a result of 5,794 reported sales.
LBAR represents more than 1,900 realtors located in Anderson, Bourbon, Clark, Fayette, Franklin, Jessamine, Montgomery, Nicholas, Powell, Scott and Woodford counties.
"The real estate market continues to have many encouraging factors even though mortgage rates have started to increase," said LBAR President Al Blevins. "A good sign is that new listings were up 16 percent for the month of July, the median and average sale prices were also up, and realtors are continuing to have multiple offer situations in the market."
Residential sales increased 24 percent in the year-to-date 2013 vs. year-to-date 2012, rising 4,375 to 5,406 sales reported closed. The median sale price increased 3 percent from $141,000 to $145,000. The average days on the market decreased from 14 percent for same time period, falling from 94 to 81 days.
In August, Southsider Magazine published a graph of real estate transactions for the neighborhoods within its distribution area, click here to see the piece.