February Sales Down Inventory Up in Lexington KY

If you've been looking at real estate in Lexington KY, you've probably noticed quite a bit of inventory on the market, and you wouldn't be alone. According to recently released figures from the Lexington Bluegrass Association of Realtors, inventory in February 2009 was up 51% over February 2008, leading to 15.7 months worth of inventory on hand versus 10.4 months worth of inventory on hand in February 2008.

No doubt affected somewhat by the unusually cold and icy winter, sales prices were down, but average days on market were also down for that period as well. The average residential sales price fell from $167,755 in February 2008 to $150,389 in February 2009 for single family homes and from $182,351 to $128,618 for townhouses and condos. On the positive side, average days on market for single family homes were down to 95, from 105 at the same time last year.

Another key trend in the February 2009 report is a market increase in the number of days on market for condos and townhomes, marking what could be an end to the upswing we've seen recently in condo/townhome sales in Lexington KY.

To view the full market report for February 2009 sales, click on the link below:

February 2009 Lexington KY Real Estate Market Statistics

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