So how does the location of your home influence how it sells??? We all have heard the old mantra about 'location, location, location' in real estate. I will concede that location is important, but mostly in considering commercial real estate. I believe that presentation (appearance) and utility combine with location to make up the three important characteristics of the single family home market.
Lets look at location of single family home sales and see if we can draw any conclusions. We will be considering year to date sales of single family homes in Trigg county. All data is from the Western Kentucky Regional MLS as of 5-21-18.
There have been 68 single family homes sold to date in Trigg county. We have 6 general locations to consider. Water front homes have resulted in 19 sales, Waterview year around have 8 sold, Waterview seasonal have 4 sales, Lake Area have 7 sales and those described as Other have 30 sales. The final location in the MLS is on Private Lake with no sales. Based upon these figures Buyers are most interested in Single Family homes that are not associated with the lake. That group comes in second, with homes with some sort of water view coming in third. Homes near the lake or those on a private lake are the least popular.
Homes not associated with the lake account for 30 of this year's sales. Homes that are in some way and degree associated with Lake Barkley make up 38 of this year's sales. While deep diving into the individual listings might provide greater detail, the apparent results of sales of Single Family homes in our county indicates that location is a factor in what portion of the market is most active.