Northern Kentucky Home Sales Still Strong in October

Florence, KY – November 20, 2013. Cooler temperatures and falling leaves signal that autumn is fast approaching in Northern Kentucky.  Friday night high school football games are in full swing and we begin to make plans for the holidays that are just around the corner. For those who enjoy entertaining friends and family, most activities happen at home.  Home is where we feel comfortable, where we raise our families and make our lasting memories. 

In October, Northern Kentucky sales of existing homes are still going strong. There were 4,990 sales year to date and if the November and December sales stay on track as we predict, 2013 is on track to have the highest number of home sales since 2007 when the total was 5,145. Home sales in October (494) were 17% higher than they were one year ago- (October 2012- 422). Prices of existing homes have rebounded steadily with gains of 6% (average sale price) and 5.4% (median sale price) year to date for 2013. 


Interest rates have remained extremely affordable and there are indications that lending institutions are loosening the tight lending standards that have plagued home buyers in recent years. In the local market, the inventory of active residential listings is still at the lowest average for a few years With these low inventories, homes are still selling.  It’s time for those homeowners who are considering selling to get off the fence and get into the market.  Right now is a great opportunity to list your home and buyers are actively looking for new listings to come on the market. 

Purchasing a home is a life changing event.  For first time homeowners, there are a lot of firsts. They will make decisions on where to live, how the area suits their lifestyle, and whether the home might accommodate a growing family.  For others, it may be a decision to move from their large family home to a ranch or condo so they can spend more time enjoying family activities or traveling.

In the midst of all these occurrences is your local REALTOR®. It’s a fact, more homes are sold by using the services of a REALTOR® Your REALTOR will guide you every step of the way through the home buying or selling process.  Their training and expertise with home sale transactions can help to make the experience a seamless one. 

The 850 member Northern Kentucky Association of REALTORS® and the 1200 users of the Northern Kentucky MLS (NKMLS), Northern Kentucky’s leader in the real estate information and services business, operates with a professional staff from 7660 Turfway Road, Suite 100 in Florence, KY.  Both NKAR and the NKMLS work to protect the public’s right to transfer real property and promote better public understanding of the profession and the real estate transaction process.