Just a quick look at our local real estate market as of October 12, 2013. Year to Date Single family home sales in Trigg County continues to be higher than same time last year. YTD sales of 117 units compares to last YTD sales of 93 units, an increase of 25%. All of Western Kentucky Regional MLS combined is showing an increase of only 5%.
Average Days on Market for Trigg County sales is currently 189 days while for the MLS the DOM is at 150 days.
Trigg county Sale Price to List Price ratio YTD is 92.85%, slightly down from the regional ratio of 93.48%
Finally, the issue of greatest concern is the median sale price for single family unit sales in Trigg county this year compared to last. Looking at the last 60 days of this year the median sale price is $99,300 while same time last year the median sale price was $119,000. Lower current median price could be explained by lowering market values or by more sales of lower priced units. Last year, during the 60 period,72% of the single family units that sold were priced below $200,000. This year, during the same time, that price range home made up 78% of the market. Clearly, more lower priced homes are selling this year than last. We will explore the issue of $ per square foot of sold properties in a future blog.
If you are considering listing your home, contact us at Lake Barkley Realty. We keep up with the market and will happy to discuss your home's value.