A quick look at the stats for year- to- date, single family home sales for our area. Western Ky Regional MLS statisticts indicate the single family home sales for all of Western KY is up 10% in unit sold over same time last year. Trigg county stats show a 50% increase in unit sales of 2012. This certainly indicates a recovering market. Year to date average Sale price to List price ratio is 93.54% for western KY and 92.73% for Trigg County. These ratios, along with market absorption rate, will help define a buyer's, seller's or neutral market.
Looking at the last 60 days of single family home sales in Trigg County confirms the recovering market scenario. Trigg county unit sales are up 68% over the same 60 day period last year. Days on Market is also up, however, several homes on the market for over 400 days are effecting the averages. Of greater interest is the sold dollars per square foot figure. The average for the last 60 days has been $79.16 per square foot while same time last year the figure was $70.46.
This trend of increasing unit sales and increasing market values has been consistant for several months and as we start into that time of year which usually shows a seasonal decrease in sales the incoming data will be worth watching. Are we in a sustainable recovery or a temporary one? Time and market activity will tell.
Next report - Waterfront home sales -wow!