Housing Market Report for Lexington KY, July 2012 Sellers Rejoice?

By
Real Estate Agent with Rector Hayden, Lexington, Ky

Prices continue to climb in the Central Kentucky housing market but inventory still remains fairly high.  We are seeing the inventory in Fayette County begin to near a neutral market and in some price ranges Fayette County has now become a seller's market.

The last column in the chart below shows the months of inventory of homes for sale in Central Kentucky for the various price ranges.  The  chart that follows shows the same for just Fayette County.  

Inventory of home on the market for July 2012 in Central Kentucky
Prices are up but inventory is still a buyer's market in Central Kenucky for July 2012

 

 

The chart below shows the inventory for homes on the market in Fayette county is trending toward seven months.  Historically six months is the turning point.  If the inventory falls below six then we tend to be in a seller's market.  For homes priced below $300,000 we are mostly at seven months inventory.

 We are only one month away from being in a neutral market.  This is a considerable change from a year ago when these price ranges mostly ranged between 8 and 13 months inventory.  

So with historically low interest rates and great home values this is the perfect time for buyers to make a move before the market switches to the seller's advantage.

Home prices in Fayette County rise as inventory shrinks.
Inventory of homes for sale in Fayette county for July 2012 edges toward a seller's market.

 

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Paul Campbell

The Jubilee Team of Rector Hayden Realtors

Lexington's Green Thumb Realtor

The Jubilee Team,  Paul Campbell and Dorothy LaBar

Paul's Contact Info:  859.684.5890   pcampbell@rhr.com

Dorothy's Contact Info:  859.608.0724  dorothy@rhr.com

A Google Map Showing Where the Jubilee Team Helps Sellers and Buyers.

A map of Central Kentucky Showing Where The Jubilee Team Helps Sellers and Buyers

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Topic:
Real Estate Market Trends
Location:
Kentucky Fayette County Lexington
Groups:
Kentucky Professionals
Diary of a Realtor
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Tags:
paul campbell
dorothy labar
thejubileeteamcom
july 2012
market report for central kentucky
inventory of homes decreases in fayette county

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