Here is a brief look at the Single Family Home market with data from the Western Kentucky Regional MLS as of 11/30/2016.
In Trigg county there are currently 107 active listings (inventory). This number is down from 145 just 60 days ago and reflects the seasonal decline that occurs around the Holidays. Based upon current sales rate the Trigg county home Market Absorbtion Rate is 14 months. Speaking of sales, there have been 146 single family homes sold this year and that matches the same number of sales at this time last year. While the unit sales numbers match, a look at the $ volume of sales for this year is 8% below last year with the Median Sale price down 14% and the average sale price down 8% year to date. These figures support the increased sale of lower priced homes and the decrease in sale of high dollar waterfront homes. The average days on market for unsold homes is currently 217, with the average DOM for sold homes setting at 174 days. Finally, considering the sale of all single family homes in Trigg county this year the sale price to listing price ratio has been 93.08% on average.
Here is the short story for all single family home sales in the combined 13 counties that make up the Western Kentucky Regional MLS. Current inventory is 7% below same time last year. There have been an additional 50 single family units sold year to date. Unsold units have averaged 171 days on market while sold units averaged 143. Market Absorbtion rate sets at 9 months. Average Sale price to List price of sold units is 94.5%. Year to date average sale price is down 1%, median sale price is down 1% but $ volume sold is up 1%.
There you have a quick look at the market figures. If you have questions or comments, sign on and speak up. I will try to answer any questions. Charlie