Residential real estate sales by members of the Lexington-Bluegrass Association of REALTORS® (LBAR) positively impacted the Bluegrass economy in May 2013 with 984 reported sales totaling $174,324,831.
LBAR.com once again saw a record number of visitors in May.
In one month 152,622 unique visitors came to the site looking for their new home, they accounted for 401,763 total visits.
Residential sales increased 26 percent during May 2013 vs. May 2012, jumping from 738 sales reported to 929.
The median sales price increased for the same time period, climbing 3 percent from $145,000 to $149,000.
Total activity for the month increased an impressive 26 percent.
Months of inventory dropped 24 percent to 6 months, the lowest since August 2006.
Pending inventory increased a dramatic 28 percent over May 2012 from 855 to 1091 pending sales reported.
The number of houses on the market also moved in a favorable direction, decreasing 5 percent from 6,191 to 5,890.
According the LBAR President Al Blevins, “"The real estate market is continuing to improve each month in most all areas. Sales are up, mortgage interest rates remain low, and local REALTORS are staying busy with calls, showings, open houses and writing offers. Homeownership is still a large part of the American Dream, and it is a great time to buy or sell."
The year-to-date 2013 is also showing strong increases.
Single family residential sales have increased 23 percent over 2012, rising from 2,803 sales reported closed to 3,457.
The median sales price increased 4 percent to $141,700.
Total activity increased 25 percent in 2013 over the year-to-date 2012.
As the region’s leading advocate for homeownership, Lexington-Bluegrass Association of REALTORS® (LBAR) understands the value and joy of owning a home.
LBAR represents more than 1,900 REALTORS® located in Anderson, Bourbon, Clark, Fayette, Franklin, Jessamine, Madison, Montgomery, Nicholas, Powell, Scott and Woodford Counties.
Visit www.lbar.com or call 859-276-3503 for buying and selling resources and real estate listings.