NKY REALTORS® Announce Highest Sales and Volume in 6 Years


NKY REALTORS® Announce Highest Sales and Volume in 6 Years

Florence, KY – January 23, 2014. The Northern Kentucky Association of REALTOR® and its Multiple Listing Service are pleased to announce a 16.55% increase of home sales for 2013. There were 842 more homes sold locally than were recorded in 2012.  In 2013 5,802 homes were sold through the Northern Kentucky Multiple Listing Service.  We have to go back to 2007 to find a higher number of home sales (5,967), making 2013 the best year for home sales and sale volume since the housing crash.    

Additionally, sales volume increased 23.52% year over year (2013/2012), good news for Northern Kentucky and a further sign of economic stabilization for our area and its citizens.  In 2013, homes sold faster too, on average, with 84 days on market until closing compared to 95 average days on market in 2012.  That’s not the only good news. Average prices rose nearly 6% in 2013 and the median price point rose 5.91%, clear indicators that home prices have rebounded to levels that can maintain economic stability. Housing drives the economy in so many ways.  For each home sold, jobs are created.  Homeownership is an important key to thriving neighborhoods and families. 


The expectation for 2014 is continued growth for Northern Kentucky’s housing market. Even though December home sales (381) showed small growth +2.70% over December 2012’s (371) sales, we expect the market to improve as we get past the winter months and head toward spring when buyers and sellers are likely to enter the market.  Northern Kentucky’s active inventories are low and the savvy seller knows that now is the time to ready their home to sell. 
The Months of Inventory for Northern Kentucky was at 7.6 in December. When REALTORS® mention the Months of Inventory, they are referring to market conditions that it may be more favorable to seller or to buyers.  It is generally accepted that fewer than 6 months of inventory reflects good conditions for sellers whereas greater than 6 months of inventory represents optimum conditions for buyers.

Using a REALTOR® to help you buy or sell a home is a smart idea.  Their knowledge of the local real estate market and their training in the art of negotiation is invaluable for such an important life decision.  Only REALTORS® adhere to a strict Code of Ethics, so you can be confident that you will be treated with honestly and integrity.  Contact a REALTOR® today. 
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.