Here is a quick update on the Single Family (S/F) home market in Trigg County as of mid March 2017. All data is from the Western Kentucky Regional MLS as of 3-14-2017 at 0730 hours.
Currently 116 s/f homes on the market in Trigg County. This number down from 118 last week. Inventory remains low but historically will begin to increase within the next month or so. Normally see 140 to 160 homes on the market.
Year to date there have been 29 units sold ( average days on market for sold units is 170) while last year there were 24 units sold in that time period. Average days on market for unsold units has been 190 days. Sale price to list price ratio on sold homes has been 93.82% so far this year.
There are currently 16 s/f homes under contract. This number is down from 18 last week and 22 earlier this year. This indicates a slight slow down of the market as fewer buyers are willing to commit to signing a contract.
Bottom line - Still short on inventory which should support higher unit prices although a reduction in number of buyers (demand) may weaken the higher prices if sustained.
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