LEXINGTON, Ky. (WTVQ) – For the first time since June of 2019, real estate sales in the region experienced a decline year-over-year, with the current pandemic and the ongoing inventory issues creating a ripple in the market.
Total sales in April were down 18 percent over last year, with 968 transactions in 2020 compared to 1,180 in 2019. (To see more detail, click here April 2020 home sale Stats)
Single-family home sales dropped 19 percent, with 906 sales compared to 1,114 last year. Townhouses/condos saw a decline of 6 percent in April, bringing monthly sales to 62 versus 66 in 2019.
New construction sales continued to strengthen in April with 119 sales, a 33 percent increase over last year’s 89 sales and pushing new construction to over 12 percent of the market for the month.
Year-to-date, due to a strong first quarter of the year, total real estate transactions remain up 2 percent compared to 2019. Transactions totaled 3,907 compared to 3,835, an increase of 72 homes sold.
Fayette County has seen a drop of 6 percent in sales for the year while the next five largest counties – Madison, Scott, Jessamine, Franklin and Laurel – in total transactions have all experienced double digit increases year-to-date.