Here is a quick look at the Trigg County, single family homes real estate market. All data is from the database of the Western Kentucky Regional MLS as of June 11, 2018.
There are currently 98 single family homes on the market in Trigg County. This number down from 105 last week and is well below the historical average of about 135 units for this time of year. Reduced inventory is part of the reason we are seeing the Market Absorption rate for the last 90 days steady at 6 months inventory.
There have been 83 single family homes closed to date this year. Last year during the same time, only 71 units had closed. This represents a substantial increase in sales volume. Considering that 59 of those sales occurred in the last 90 days while last year only 43 sales closed last year, it is apparent that our market remains strong.
Finally, there are currently 35 homes in the sale pending category. This figure gives us a picture of the number of buyers who are looking for homes and are prepared to buy. While in the past this number has been much lower, the current pending contract number, which has been strong for the last 4 weeks, shows there are buyers looking at homes and are willing to purchase. Now is a great time to get your home on the market.
Last tidbit - Mortgage rates are higher this week than and time earlier this year. 30 year, fixed mortgage is at 4.825% with US Bank.