Here is a quick market update through the end of October 2015. All data comes from the Western Kentucky Regional MLS database as of November 4, 2015.
The market for single family homes in Trigg county has been strong for most of this year. After a mediocre start, the sales data shows strong demand through October. Year to date Single family home sales through October amount to 142 units sold, where as same time last year figure was 112 unit. An increase of about 27%. To narrow the view a bit, let's compare the last 90 days of sales this year to last. August through October of 2015 saw 59 Single Family homes close while last year in the same time period on 34 units closed. That amounts to about a 74% increase for this years sales.
The Trigg County market has far exceeded the market for all Western Kentucky combined. The 13 counties of western KY have sold a total of 1806 units this year but only 1601 during the same time last year. That is a 13% increase, normally a good figure but it is only half of the increase seen in Trigg County.
Other data to note is that YTD the sale price/ list price ratio in Trigg has been 93.24%. This figure is up from previous reports and may signal a departure from the deep Buyers market we have seen for the last 8 years or so. Interest rates remain in the low 4s for 30 fixed mortgages. We have begun to see the seasonal slow down with inventory dropping slightly (150 units active) and pending sales dropping to 12 units, down from 24 earlier this month.
There you have it. Ours is a strong market, moving in to the seasonal slow down. If interest rate remain low we should see a fair market through the end of the year and possibly a very good market this coming Spring.