Lexington Residential | Photo by Jeff Rogers | www.jeffrogers.com
LBAR Announces $1.1 Billion in Bluegrass Real Estate Sales in 2011
Staff Report, 1.24.12, BizLex.com
Lexington, KY – By year’s end, members of the Lexington-Bluegrass Association of Realtors (LBAR) 6,649 reported sales totaling $1,091,035,899, according to an association press release.
“As 2012 begins, the real estate market in central Kentucky will continue to stabilize,” said LBAR President Mary Anne Simmons. “The inventory drop during the second half of 2011 should translate into further positive news for sellers. Interest rates are expected to hold the low ground, enriching the buying environment for consumers. The spring market will ultimately be the major test as to the rate of recovery throughout the year. 2011 showed a healthy market despite some drops in home prices. Positive indicators included shrinking inventory and increased demand.”
Residential sales reported during December 2011 vs. December 2010 increased 17 percent from 486 to 570 sales closed. The median sales price decreased 10 percent over December 2010, falling from $148,450 to $134,000… Read more at BizLex.com
