Residential real estate sales by members of the Lexington-Bluegrass Association of Realtors positively impacted the Clark County economy in third quarter of 2017 with 405 reported sales totaling $64,245,758. Sales continue to be a driving force in Clark County economy.

Residential sales increased 17 percent from 346 sales reported in third quarter of the year 2016 to 405 sales reported in third quarter of the year 2017. The median sales price increased 5 percent from $130,000 in third quarter of the year 2016 to $137,000 in third quarter of the year in 2017. The average days on the market decreased 33 percent from 91 days in third quarter of the year 2016 to 61 days in third quarter of the year 2017.

Residential sales in Clark County had no percentage of change from September 2016 with 42 sales compared to 42 sales in September 2017. Pending sales increased from 37 in September 2016 to 42 pending sales reported in September 2017. The median sales price had increased from $143,000 in September 2016 to $156,500 in September 2017. New listings decreased 11 percent from 56 new listings in September 2016 to 50 new listings in September 2017.

Real estate sales by LBAR members positively impacted the Bluegrass economy as of September 30, 2017 with 10,659 reported sales totaling $2,066,039,245.

“With all the hype about low inventory and pleas for sellers to come on the market, the quantity of homes available remains low with little variation except for the seasonal occurrences,” LBAR President Ty Brown said. “There will be an expected seasonal decline in new listings in coming months. For September, new listings decreased seven percent compared to September 2016 with 1,416 new listings in September 2017. The months of inventory had no change from September 2016 to September 2017 with 3.9 months of inventory.”

The year-to-date 2017 total sales increased 4 percent from 10,270 sales to date in 2016 to 10,659 sales to date in 2017. The year-to-date 2017 residential single family sales increased 3 percent from 9,616 sales to date in 2016 to 9,946 sales to date in 2017. The residential median sales price increased 5 percent from $155,000 to date in 2016 to $162,900 to date in 2017. The residential average days on market decreased 17 percent from 64 days to date in 2016 to 53 days to date in 2017. The year-to-date 2017 townhouses/condos sales increased 9 percent from 654 sales to date in 2016 to 713 sales to date in 2017.

“As temperatures start to cool throughout the country, the total number of home sales will cool as well, as is the seasonal nature of the housing market,” Brown said.