Lexington, KY - Residential single-family real estate sales in Fayette County increased 15 percent during the first quarter of 2012 over 2011 according to the Lexington-Bluegrass Association of REALTORS (LBAR). In all for the quarter, LBAR reports 673 units sold versus 587 in 2011, with a median sales price of $150,000, down a percent from last year.
The month of March saw a 17 percent increase over the same month from last year as sales increased from 259 in 2011 to 302 this March. Pending sales were up 26 percent for the month, LBAR stated in a release.
LBAR also reports a 23 percent decrease in inventory at the end of March, indicating a healthier housing market for the area. Fayette County had a 7.6-month inventory of homes on the market, a five to six month inventory is considered balanced for a market, according to the release.