A review of the statistical data from the Western Kentucky Regional MLS show the following details regarding Year-to-Date single family sales. The 14 counties that make up the MLS indicate an 8.8% increase in sales of same time in 2012. Avg. Days on market (DOM) for units sold is 169, avg DOM of active listings is 176. Sale Price to List Price(SP/LP) ratio is 92.3%. Current active inventory of s/f homes is 1382, a small increase from last report.
Statistics from Trigg County sales are as follows. Unit sales up 22% over same time last year. Average DOM sold is 191, and DOM on active listings averages 185. SP/LP is 90% as of today. Inventory of single famiily homes continues to increase and is currently at 151.
We did an break down of YTD sales of S/F homes in Trigg County and found some interesting information. To date there have been 33 single family homes sold. Average DOM sold is 191 as previously reported. Average Dollar per square foot of sold property is $75.70. These are average figures when all sales are lumped together. But a different picture is revealed when you categorize the sales by sales price.
Homes that sold for less than $100,000, YTD (11) averaged 145 DOM and only $54.20/sqft. Sale Price to List Price ratio was only 86%.
Homes that sold from $100K to $200K (13) averaged 195 DOM and sold for $75.25/sqft. SP/LP ratio was 89%.
Finally homes sold for more than $200K (6) averaged 269 DOM and sold for $95.86/sqft. SP/LP ratio was 89%
Bottom Line: Homes priced below $200K make up the vast majority of sales (intuitive,huh?) With those priced below $100K bringing the least per square foot. These Sellers are making the most concessions regarding accepting a price below the listing price.