Overall real estate sales activity in Lexington and the surrounding Bluegrass region remained steady in 2014, with a very slight decrease in residential sales, according to the Lexington-Bluegrass Association of Realtors (LBAR).
LBAR members reported 10,741 real estate sales closed in 2014, totaling $1,836,291,390. The organization reported 10,691 sales closed in 2013. Residential sales fell roughly one percent for the year, with 9,926 residential sales reported closed in 2014 as compared to 9,997 in 2013. The median residential sales price remained relatively unchanged at $140,000 in 2014, as compared to $139,900 in 2013.
“The market outlook for 2015 is bright as the residential housing market remained stable in 2014,” said 2015 LBAR President Larry Freels in a media release. “Realtors are encouraged by the growth in sales during 2014 and the extremely low interest rate environment.”
Townhouse and condo sales in the region rose 17 percent in 2014, increasing from 694 sales in 2013 to 815 sales in 2014. The median sales price edged up slightly from $127,500 in 2013 to $128,000 in 2014.
December was a particularly active month in the Bluegrass for real estate sales, with total sales (794) increasing 16 percent as compared to sales closed in December 2013 (683). Residential sales for the month also increased by 16 percent, from 637 in December 2013 to 737 in December 2014.
Pending inventory rose from 478 pending sales in December 2013 to 610 pending sales reported in December 2014. The active inventory count also increased, from 4,925 active houses on the market in December 2013 to 5,413 in December 2014.