Lexington, KY - The Lexington-Bluegrass Association of Realtors (LBAR) has reported third-quarter real-estate sales of $712,866,015 in Fayette County and $1,352,333,372 in central Kentucky.
Residential sales in Fayette County fell 5 percent in September as compared to last year, from 394 sales in September 2013 to 374 sales in September 2014. The median sales price in Fayette County rose 2 percent in September, from $157,450 in September 2013 to $160,900 in September 2014.
For the year-to-date, residential sales in Fayette County were down 7 percent, from 3,799 sales reported in 2013 to 3,522 in 2014, and median sales price rose 1 percent, from $160,000 in 2013 to $162,000 in 2014. The average days on the market increased by 11 percent, from 62 days for year-to-date 2013 to 69 days for year-to-date 2014.
In central Kentucky, total sales activity rose 1 percent in the third quarter of 2014, according to LBAR, increasing from 7,691 reported sales in 2013 to 7,781 sales in 2014. Residential sales remained relatively constant, with 7,143 sales closed in 2013 and 7,129 sales closed in 2014. During the same time, the residential median sales price in central Kentucky dropped 2 percent, from $145,000 in 2013 to $142,500 in 2014. Average days on market for central Kentucky residential properties has risen 5 percent, from 78 days in September 2013 to 82 days in September 2014.
LBAR noted a significant increase in townhouses/condos sales in the region. For the third quarter of 2014, sales of townhomes and condos rose 19 percent as compared to the same time period in 2013, from 548 sales reported closed in 2013 to 652 sales reported closed in 2014. At the same time, the median sales price for townhomes and condos rose 2 percent, from $125,750 in 2013 to $128,000 in 2014.
Pending inventory in central Kentucky rose in September, from 756 pending sales in September 2013 to 891 pending sales in September 2014. Active inventory decreased slightly as compared to last year, from 5,901 active homes in September 2013 to 5,857 in September 2014.