July 2015 Quick Market Report

July 2015 Quick Market Report

The Rally Continues

The Lexington Kentucky Real Estate market showed continued strength as the summer begins to wind down.  The number of houses sold was up almost 20% versus last year!  Conversely, the number of new listings decreased 6.5% vs last year.  As expected with the high demand and low supply the days on market decreased by 9 days and the average selling price increased by $6,000.


What does this mean?

So what does this mean for the you?  If you own a home and you have thought about selling now is a great time to move.  Prices are, in my opinion, overheating at the moment and I believe we are at the top of a bubble.  When the Federal Reserve increases interest rates later this year/early next year there will be downward pressure on home prices.  Now is the time to sell!  If you are interested in buying it might behoove you to wait a month or two.  While money is very cheap at the moment I believe the slight increase in interest rates will be offset by a larger decline in home prices.

If you have any questions please feel free to give a ring or email.  If you would like to find out what your home is worth click this link: CTA


Morgan Franklin

United Real Estate Lexington

morgan@lexhomehub.com

(859) 576-0801


QMR JUL  15




Morgan Franklin Headshot
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Phone: 859-576-0801
Dated: April 4th 2017
Views: 5
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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