The first month of the new year saw colder temperatures but hotter activity compared to 2020. Total home sales reached 939 in January compared to 828 during January last year, an increase of 13 percent. Transactions in January were the highest monthly total on record, breaking the previous record from 2020. Both single-family homes and townhouse/condo saw a sales increase of 13 percent for the month, matching the overall sales tally for January.
Kristy Gooch was installed as the 2021 president of the Bluegrass REALTORS® (Bluegrass REALTORS®). She has been a member of Bluegrass REALTORS® for over 20 years, served on the Bluegrass REALTORS® Board of Directors and was elected as treasurer in 2018. She has participated on numerous committees and task forces including MLS, professional standards and technology. In 2012, Gooch was selected as the Good Neighbor Award recipient for Bluegrass REALTORS®.
The Bluegrass REALTORS® (Bluegrass REALTORS®) presented its highest awards for 2020 at the recent Kick Off: Installation and Member Recognition Meeting – REALTOR® of the Year, Good Neighbor and Distinguished Service – honoring outstanding REALTORS® within the Association.
Real estate sales shattered previous records in 2020 despite an ongoing pandemic. Transactions topped last year’s totals by 8 percent, hitting 15,309 in 2020 compared to 14,153 in 2019. For the month, December saw a monthly record of 1,284 sales, outpacing the previous year by 22 percent when sales were 1,054. With the exception of the second quarter (April through June), each month in 2020 tallied record high transactions and all exceeded previous year totals aside from April and May when the initial effects of the slowdown hit the economy.
Housing demand, coupled with record low interest rates, have positively impacted home sales in the Central Kentucky region for several years. And 2020 is not an exception. Transactions in November spiked 19 percent for the month over the same time last year, with 1,195 total sales versus 1,002 in 2019. The monthly total is a record for the month and pushed sales for the year up 7 percent.
The Bluegrass REALTORS® (Bluegrass REALTORS®) held a Day of Giving to support local charities during the holiday season. The project, coordinated through the Community Education & Outreach Committee of Bluegrass REALTORS®, selected 10 organizations and awarded each with a $500 donation to help cover necessary costs during a time of the year when funding is needed the most.
Demand throughout the region has driven up home prices over the first nine months of the year. The median price of a home in September hit $209,900, a 17 percent increase over last year when the median was $180,000. The September median is up over 2 percent from the previous month and has spiked 21 percent from January. Home prices have risen for 19 straight months with September recording the fourth consecutive month with median prices closing above the $200,000 level.
The Building Institute of Central Kentucky (BICK) is receiving funding to assist traditionally underrepresented students enrolling in their Workforce Development Training Program through a partnership with the Bluegrass REALTORS® (Bluegrass REALTORS®).
