2014 Home Sales On Pace to Beat 2013

Florence, KY – November 20, 2014. The Northern Kentucky Association of REALTORS® and the Northern Kentucky Multiple Listing Service are pleased to report that home sales in NKY were up in October by almost 5% when 530 homes sold over 506 that sold last October. After a few sluggish months of home sales, NKY homebuyers are choosing to spend the upcoming holidays in their new dream home.

Average home sale prices rose nearly 2% for the month to $149,366. Median prices are very favorable at $132,000. These positive signs should encourage sellers to enter the market in the coming months.  The active listing inventory is still quite low here, with 2,673 residential homes available now. It would take 5.4 months to absorb all those listings if no new listings were entered. 

Year to date, NKY home sales (5,081) have surpassed 2013 sales (5,036) and with two months left of 2014, there’s a good chance we will see measurable growth over 2013 homes sold. The residential market is experiencing a reduction in the number of distressed sales in recent months.  Investors, who had heavily capitalized on bank owned, HUD, and short sale properties over the last few years have drawn back, allowing more first time buyers an opportunity to compete against those all cash sales.

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While it’s true that most home shoppers today start their home search on the internet, or on mobile apps, smart homebuyers look to their local REALTOR® for guidance when it’s time to get serious. They know that a REALTOR’S® knowledge of the local market can’t be duplicated by a layman’s online research. Plus, REALTORS® have the most accurate source of the listing data- the Multiple Listing Service at their fingertips.

REALTORS® know what matters to buyers and sellers. They have the expertise and experience to help their clients interpret and navigate the complex, time-consuming and overwhelming world of real estate, so sellers can protect their investment and buyers build theirs. They help people buy and sell hundreds of homes over the course of their careers. Buying a home is one of the most exciting and important decisions you may make in your lifetime.  It’s nice to be able to call and speak with your REALTOR® when you get nervous or need advice.  They are the experts in their field and why would you lean on anyone else when such an important decision is on the line? 

Work with a REALTOR® Professional Today!