Real Estate Market Update as of 7/23/13 data is a product of the Western Kentucky Regional MLS, covering the 13 counties of Western Kentucky.
Year to Date figures for WKYRMLS indicate unit sales of single family homes are up about 10% over same time sales last year. Days on Market (DOM) for sold homes averaged 151 days. The average sale price was $135,624.00. The average sale price to average list price ratio was 93.6%.
Year to Date figures for Trigg County indicate a much improved market. Unit sales for single family homes is up 45% over sales to date for 2012. Days on Market for sold homes averaged 193. The average sale price was $144,661 and the average sale price to average list price ratio is 92.67%.
Looking at the Trigg County Market for the last 60 days compared to the same 60 day period last year reveals an increase of single family units sold by 66%. Days on Market is higher for this year however several units which sold had been on the market by more than 400 days which raised the average considerably. More telling is the comparison of Median Sale prices. Single Family units selling in the last 60 days in Trigg County had a median sale price of $159,950 while last year in the same time period the median price was only $112,400. Similarly, the sold dollars per square foot value for last 60 days averaged $81.87 while last year it was $71.73.
All indicators seem to support the position that local area real estate continues to increase in value as the economy recovers.