Just a quick check of the market at the end of the second quarter. All data from the Western Kentucky Regional MLS database.
Regarding single family home sales for the first two quarters of 2014 in Trigg county, unit sales are down by about 4% compared to 2013 figures. Days on market for Trigg county sales is averaging 217 days. Available inventory continues a gradual decline, a condition that began at the end of May. On July 1, 2014 there were 161 single family units being actively marketed for sale. In addition to slightly decreased inventory, Pending sales statistics are also declining. Pending sales figures have been declining for at least 4 weeks.
The gewneral decline in the real estate market is not soley a Trigg County condition. The 13 counties of Western Kentucky, when averaged together, also show a decline in sales and pending numbers
On the positive side, the sale price of homes in dollars per square foot is higher than last year. Sales for the last 90 days averaged $84.38 per square foot while same time last year the figure was $77.14. It would appear that although the number of sales and the available homes numbers are declining, the market value is slightly higher than it was last year.
Sales in Trigg county are normally seasonal with vacation or retirement homes associated with the lake increasing the sales numbers during the summer then falling off in the fall and winter. The current decline is too early to be considered the seasonal slow down. Are we seeing another loss of consumer confidence like we saw 4 years ago? Time will tell.