Continuing a long-term commitment to healthy communities for central Kentucky homeowners, the Bluegrass REALTORS® (Bluegrass REALTORS®) announced its $2,000 investment in the Woodford County Economic Development Authority. Over the past 16 years, Bluegrass REALTORS® has made available over $550,000 to promote economic development across central Kentucky.
Homes in Central Kentucky sold much quicker in October this year than in 2018. Days on market throughout the region fell 20 percent, with homes selling in an average of 41 days in 2019 versus 51 in October last year. Over 61 percent of all transactions occurred in less than one month with only 8 percent taking longer than 4 months.
The start of the fall season has produced a robust real estate industry with the number of transactions in September skyrocketing. Sales were up 17 percent compared to last year, with total transactions for the month reaching 1,180, compared to 1,010 in 2018. September marks three consecutive months of year-over-year increases.
The weather was hot in August and so was the real estate market in Central Kentucky. Sales were up 4 percent compared to last year, with total transactions in August reaching 1,389, compared to 1,339 in 2018. Single family home sales jumped 5 percent overall, 1,311 in August versus 1,252 in 2018. Condos/townhome sales dropped to 78 in August from 87 last year, a decrease of 10 percent. Year-to-date, sales are up 4 percent, with a total of 9,509 total transactions in 2019 compared to 9,128 in 2018.
After a minor slowdown in sales last month, real estate picked back up in July. Transactions increased 9 percent for the month, 1,405 in 2019 versus 1,294 in 2018, reaching the second highest monthly gain for the year. For single family homes, sales increased from 1,217 in July 2018 to 1,318 this month, for an 8 percent increase, while condos/townhomes jumped 13 percent, from 77 last July to 87 in 2019. Year-to-date, sales are up 4 percent, climbing to 8,055 transactions for 2019, compared to 7,746 in 2018.
Real estate sales in Central Kentucky slowed in June with total transactions slipping 4 percent year-over-year. This was the first monthly decline since January and follows a double digit increase in sales from last month. Sales reached 1,322 in June versus 1,380 in 2018. Single family homes were down 3.6 percent in June versus last year while condos/townhomes dropped by 12 percent. The condo/townhome market made up just over 6 percent of all transactions for the Association.
Demand for Central Kentucky real estate is still on the rise going into the summer months. Total home sales surged 10 percent in May, hitting 1,412 total transactions in 2019 versus 1,281 in May 2018. This is the highest monthly total since June 2017 and marks the fourth straight month for year over year increases. Single family homes were up 9 percent in May versus last year while condos/townhomes jumped an impressive 25 percent. The condo/townhome market makes up just under 10 percent of all transactions for the Association. Year-to-date, total home sales are up 6 percent, reaching 5,260 total transactions in 2019 compared to 4,975 in 2018. Nationally, homes sales were down just over 1 percent in May from a year ago.
The warmer weather has been good to the real estate market in Central Kentucky. Total home sales spiked in April by 9 percent, hitting 1,180 total transactions in 2019 versus 1,085 in April 2018. This monthly total is the highest since August 2018 and the most in April for the Association. April marks the third straight month for year over year increases. Single family homes are sustaining the market with an 11 percent increase in April while condos/townhomes are down 21 percent. Year-to-date, total home sales are up 5 percent. Nationally, homes sales were down over 4 percent in April from a year ago.
