LEXINGTON, Ky. (June 11 2014) — Residential real estate sales by members of the Lexington-Bluegrass Association of Realtors (LBAR) resulted in 997 reported sales in May totaling $179,868,113. Of those sales, 926 were existing homes and 71 were new construction.
Sales dropped 2 percent from this time period last year, with 929 sales closed in May 2013, compared to 906 this year. Residential average days on market increased for the same this year. The median sales price decreased 3 percent, from $149,000 in May 2013 to $145,000 this year.
Additionally, townhouses/condos saw a 65 percent gain in sales from 55 sales in May 2013 to 91 sales this year. The median sales price had no percentage of change from $127,750 in May 2013 to $128,000 in May 2014, with the average days on the market rising to 164 days this year.
The number of pending homes increased, from 1,091 in May 2013 to 1,156 this year, said Linda Wiley, president of LBAR.
“Additionally, buyers had 1,752 new listings to choose from with a total of 5,427 properties,” she said.
The year-to-date 2014 residential single-family sales decreased 4 percent from 3,457 sales to date in 2013 to 3,306 sales to date in 2014. The year-to-date 2014 townhouses/condos sales increased 19 percent from 250 sales to date in 2013 to 298 sales to date in 2014.
LBAR represents more than 2,000 realtors located in Anderson, Bourbon, Clark, Fayette, Franklin, Jessamine, Montgomery, Nicholas, Powell, Scott and Woodford Counties. Visit www.lbar.com for more information.