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LBAR announces $223.9 million in Fayette County real estate sales in first quarter 2017

Residential real estate sales by members of the Lexington-Bluegrass Association of REALTORS® (LBAR) positively impacted the Fayette County economy in first quarter 2017 with 1,050 reported sales totaling $223,874,072. Sales continue to be a driving force in Fayette County economy.

Residential sales increased 16 percent from 903 sales reported in first quarter 2016 to 1,050 sales reported in first quarter 2017. The median sales price increased six percent from $165,000 in first quarter 2016 to $175,000 in first quarter in 2017. The average days on the market decreased 19 percent from 58 days in first quarter 2016 to 47 days in first quarter 2017.

Residential sales in Fayette County increased 11 percent from March 2016 with 385 sales compared to 426 sales in March 2017. Pending sales decreased from 590 in March 2016 to 549 pending sales reported in March 2017. The median sales price had increased from $167,500 in March 2016 to $180,000 in March 2017. New listings decreased eight percent from 713 new listings in March 2016 to 659 new listings in March 2017.

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 2,900 REALTORS® located in Anderson, Bath, Bell, Bourbon, Clark, Clay, Elliott, Fayette, Franklin, Harrison, Jackson, Jessamine, Knox, Laurel, Menifee, Montgomery, Nicholas, Powell, Rowan, Scott, Whitley, and Woodford Counties. Visit www.lbar.com or call 859-276-3503 for buying and selling resources and real estate listings. For additional information please contact Elaine Hangis, LBAR Chief Executive Officer (859-276-3503 or via e-mail, elaine@lbar.com).

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