We have had several questions about the status of waterfront home sales on Lake Barkley, so it is time to take a quick look at the W. KY Regional MLS statistics. Considering a comparison between last years sales for the last 90 and this years sales the following data appears relevant.
Last year between 12/26/11 and 3/26/12 there were 7 single family waterfront homes sold on Lake Barkley in the MLS database. In that same time period this year there were 8 units sold. Average Sale Price last year was $368,571 while this year the average sale price was $346,187. This does not necessarily represent a reduction in home values as just a few sales at the lower end of the spectrum could reduce the average with such a small number of sales.
What is of interest is the $ per square foot figures. Last year the average sale was at $109.42/ sqft. while this year the average sale is at $113.07 per square foot. This certainly appears to be good news.
Additionally, last years Sale Price to List Price ratio was at 88% for the 90 period and this year it is at 91%. A move toward higher figures in this catagory indicates a shift away from the Buyers Market we have experienced for several years and a move toward a more neutral market.
Finally, Days on Market is always of interest. Last year in the 90 day period the average sale closed after 323 days on market. During the last 90 days that figure is 310.
Bottom line, although statistical sampe is small, it appears the market is moving in a positive direction.