Just a quick report on market conditions for single family homes in Trigg County as of September 31. All data is from the Western Kentucky Regional MLS.
Year to date Trigg County has seen 145 closed transactions whereas there were 141 closed in the same time in 2017. Median sale price this year is $146,000 contrasted to $139,900 last year. Average days on market for sold units dropped to 140 days this year while it was at 179 days last year. The Sale Price to List Price ratio has remained at 94% during this period for both year. Slightly more sales, higher median price and reduced days on market describes the Single Family home market for Trigg county compared to last year.
WATERFRONT HOME OWNERS - Just a quick note for all of you. Waterfront homes in Trigg County showed a substantial market increase this year. As of Sept. 31, 2018 there has been 47 waterfront homes sold in Trigg County while last year in the same time there were only 29. Average value (measured in Dollars per square foot of sold property) increased about $10.00 per square foot. Additionally, days on market for sold units dropped from 278 days on market to 175 days. It has been a good year for waterfront sales.
I will have further updates and we will dive into specifics of select portions of the real estate market in future posts. If you have a questions about local real estate just let me know and I will try to find you an answer.
Hey - how about that tax rate increase on real estate in Trigg County? Imagine all those home owners who have a mortgage who pay their property taxes via an escrow account which is going to be quite short this year!!! All of them will be getting a letter from their lender to SEND MORE MONEY.