Just a quick update for the Real Estate Market in Trigg county and in the combined Western Kentucky Region. All Data from the Western Kentucky Regional MLS Database on Feb 2, 2015
Looking a Single Family (S/F) home sales during the month of January for all 13 western Kentucky counties combined we find there are a total of 1,541 units in active status (Inventory). The average list price stands at $201,020 and the average days on market (DOM) for these active units is 197 days.
There were 106 units sold in January across the region with an average list price of $144,148 and an average sale price of $134,443. The Sale Price to List Price ratio was 93.27%. Units that sold averaged 162 DOM.
Comparing January 2015 sales to January 2014 sales saw 2 fewer units sold, however, volume by Dollars was up 7%, Average sale price was up 9%, Median Sale price up 14% and active inventory was up 4% over last years figures. Clearly market values are strong and increasing.
In Trigg county, January found 152 units on the market with an average list price of $213,847. These units averaged 182 DOM. Seven units sold in January with an average sale price of $183,771 and a Sale Price to List Price ratio of 89.52. Units that sold averaged 293 days on market, however, one was on the market over 725 days which skewed the average. Trigg County S/F inventory rose 7%.
Average percentages were up across the board In Trigg county, however, when using small groups, like 7 sales, it is easy to be mislead by big percentage numbers. Due to this, I will not detail the percentages, just acknowledge they are all up. As of Feb. 2, 2015 there are 12 units under contract and pending.
Based upon the total figures it appears that our single family market is getting off to a solid start. Next week we will look closer at specificy types of property and their current market. If you have questions please feel free to join the conversation