It’s still just spring, but the local market is HOT
Our record number of sales so far in 2016 means we’ve had the pleasure of assisting over 1000 local home buyers and sellers with their real estate successes this year! The Lexington/Central Kentucky market continues to be very strong, and average sale prices have increased slightly in many price ranges since last year.
With home inventory at a 10+ year low, and continuing strong demand from buyers, well-priced homes in good condition are selling relatively quickly — especially in the “sweet spot” of the market: $100,000-$400,000. This is the most affordable range for the majority of buyers out there – and the range where over 70% of all sales occur. Higher-priced homes are selling at a slightly slower rate — but overall, sales are occurring in ALL price ranges.
It’s interesting to note that there are over 1000 fewer homes on the market currently than at this time last year. That’s a 25%+ reduction in just the past 12 months – and has shifted our local market from a “buyer’s market” (which it’s been for several years now) to much more of a “seller’s market”.
Whether you’re buying or selling, the GREAT news for everyone is that interest rates are at historic lows, there’s strong demand, there are still outstanding homes available in all price ranges – and because we live in one of the best areas of the country, real estate will continue to be a solid investment for the future!
Our monthly Market Report shows information for all of Lexington and Central KY, including:
- • Overall market trends
- • Number of homes on the market in EACH price range
- • Number of homes selling in those ranges
- • Average Sales Price
- • The Top 20 Real Estate Firms
- • And breakdowns by counties in our coverage area!
It’s the exclusive Rector Hayden Market Report!
Click the image below or browse the report through Issuu.com
