Sales in Trigg county and the W. KY Regional MLS continue to show improvments over same time last year in nearly every category.
Trigg county Single Family units sold year to date number 18 while last year there were only 13 in the same time period in 2012. So far, every weekly review has shown positive gains supporting the recovering market position. Average days on market for sold units was 195 and SP/LP ratio is at about 92%. Last weeks update indicated a slight increase in Inventory, however, this week there are fewer available homes for sale. Regarding inventory and sales, the Market Absorption Rate for Trigg County at the end of February 2013 was 12 months. This indicates that at the current sales rate, the existing inventory with no additions would all be sold in 12 months. This data is used to determine Sellers Market, Neutral Market or Buyers Market. Normally, 5 to 8 months of inventory is Neutral while more indicates a Buyers Market and Less a Sellers Market. Trigg County has experienced a Buyers Market constantly for the past several years.
Buyers Market , low interest rates, and increased sales are all indicators of a recovering market.