Dec 2015 Quick Market Update Lexington Kentucky Real Estate

Dec 2015 Quick Market Update Lexington Kentucky Real Estate

I was expecting mediocre numbers  this month as December is traditionally a quiet month for Lexington Kentucky Real Estate.  However, I was really surprised when I saw the results.




  • Residential Real Estate Sales in Lexington were up 11.1% v last year

  • Average sale price increase $9,539 or 5.4%

  • Average days on market is down from 92 to 75

  • The number of homes under contract increased by 99 or 16.2%

  • Inventory is at a large deficit down almost 1,000! listings or 18.4%!!!!

  • The number of new listings hitting the market is also down.  1.5% less than last year.


So What Does All Of This Mean?


 

Sellers – Now is the time to sell!  Demand is greatly outpacing supply and prices are increasing as a result.  I am working with several sellers at the moment who are ready to buy but we can’t find anything for them to buy.  If you want to find out what your home is worth click HERE


Buyers – Even though the seller’s have the upper hand at the moment it is still a good time to buy.  The Federal Reserve has outlined a plan to raise interest rates over the next year.  The mortgage market still hasn’t reacted and mortgage rates are still at historically low rates.  So if you can find a home that you like it is still wise to take advantage of low interest rates.  Find out how you can buy a house and check out our mini home buyers seminar.  Just click HERE


 

Dec 15 Quick Market update - Lexington Kentucky Real Estate


Morgan Franklin Headshot
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Phone: 859-576-0801
Dated: April 4th 2017
Views: 4
About Morgan: Hi, I’m Morgan Franklin and I am a Realtor in Lexington Kentucky. I have lived here for over 25 ...

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