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®).
Home sales in the Central Kentucky region rose in August, marking three consecutive months of positive sales gains, according to data from the Bluegrass REALTORS® (Bluegrass REALTORS®). The monthly total was the second highest ever on record, hitting 1,460 sales, up 5 percent from last year’s total of 1,389.
Despite record low levels of homes for sale in the Central Kentucky region, real estate sales spiked to a new record high. Sales hit 1,583 in July, up 13 percent year-over-year when sales tallied 1,405, and up the same percent from the previous month. The monthly total was up 11 percent when compared to the previous sales record from June 2017 when sales topped out at 1,428. July’s total marks two consecutive months of sales increases and signals a trend of recovery for the area.
Congratulations to Mike Inman, of Salvisa, and member of the Bluegrass REALTORS® (Bluegrass REALTORS®), for his selection into the National Association of REALTORS® (NAR) 2021 Leadership Academy class. Twenty-five REALTORS® from across the country have been chosen to participate in the 10-month program designed to prepare emerging state and local volunteers for future leadership roles at NAR. The program will begin in January 2021 and culminate at the 2021 REALTORS® Conference and Expo in San Diego next November.
