As we approach the end of Q1 for 2016, let's take a moment to look at lot sales for this and last year. All data is from the Western Kentucky Regional MLS on March 28, 2016.
Year to date there have been 9 lot sales in Trigg County. Last year in the same time period there had been only 5. This increase will bear watching as we move into Q2 and Q3 as increased sales of lots usually would indicate an increase in home building or at least planned home building. There are currently 282 parcels of land advertised for sale in the MLS in Trigg County and there are an additional 3 that are currently under contract.
A detailed look at 2015 sales will give us a basis to judge the upcoming sales season as the 2016 figures become available. Last year there were a total of 40 lots sold in Trigg County. The 4 major categories break down like this; There were 7 waterfront lots sold, averaging $49.3K per acre and average Days on Market of 438. There were 3 waterview year around lots sold, averaging $41.5K per acre and averaging 223 DOM. The third category of lot, lake area, saw 13 sales at an average price of $7.3K per acre and an average of 387 DOM. The final category of lot is the other, and there were 16 such lots sold at an average of $17.3K per acre averaging 78 DOM.
As mentioned, the above stats should help us in determining market value changes on sales this year. With demand already nearly doubling the number of units sold in just the firs 90 days it will be interesting to revisit this group of real estate sales at mid summer.