As September fades into the sunset this would be a good time to look at the Q3 statistics for the local real estate market. Regarding Trigg County single family home sales it appears the market is cooling. Unit sales are still up 9% over Q3 2012 sales but both average sale price and median sale price have declined compared to last year. A review of sales in the first 3 quarters of 2013 shows Q1 with a 25% increase in unit sales over previous year. Q2 showed a spectacular 77% increase in unit sales, and as mentioned Q3 shows a 9% increase. Based upon these stats, it would certainly appear that our market is outperforming last year's market to date. The cloud over it all deals with average and median sale prices. Q1 showed a decrease of -7% and -11% respectivly, Q2 showed and increase of 9% and 37%, but Q3 again shows a decline of -19% and -29%. Finally looking at the combined averages for the first 3 quarters of 2013, unit sales are up 33%, average sale prices down -9% and median sale price down -13%. Note that this data, supplied by the W KY Regional MLS, concerns just Trigg county and relatively small numbers of sales.
On a larger scale, the first 3 quarters data combined for the 13 western Kentucky counties covered by the Western Ky Regional MLS shows and increase in unit sales of 6%, average sale prices up 2% and median sale price down -2%.
Bottom Line - Unit sales of single family homes in Trigg county have increased over last year in each of the 3 quarters. Average sale prices and median sale prices appear to have declined.
One last piece of data - MLS active residential listings (inventory) combined has increased each of the last 4 months. On Oct 1, 2013, residential listings were at their highest since same month 2010.
Interested in the market? Ask a Lake Barkley agent or send us your question here on the blog.