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NKY Home Sellers See Sale Prices Climb

NKY Home Sellers See Sale Prices Climb Florence, KY – August 24, 2016- The Northern Kentucky Association of REALTORS® and the Northern Kentucky Multiple Listing Service report that home sales in local NKY neighborhoods slowed down a bit in July by (-4.37%). Year to date through July, home sales (3,928) are still fast paced, up by 8.81% over YTD -2015 (3,610). It's interesting to note that home prices are still climbing and in July, the average selling price was the highest recorded by the MLS, $184,547. It looks like current home owners have finally gotten the message that it's time to get their home on the market if they want to upsize or downsize. Low inventory and high demand for homes explains the higher selling prices we've seen this year. Even though the active listing inventory has been increasing monthly, topping 2000 for the first time this year; many more listings are needed to keep pace with the buyers out in the market hoping to buy. Looking back to this same time of 2015, there were nearly 2,500 homes on the market, waiting for offers.


It’s expected that brisk home sales will continue through fall to the end of the year as long as listing inventories grow enough to accommodate the number of buyers looking. For many, summer break is a short window of time to find a home and move in before school starts. Some are still searching even though their children have already gone back to school for the fall
term. Rising home prices and a lack of homes for sale may mean more families have been forced to continue their house hunt into fall. These instances and others are reasons why most consumers turn to a professional REALTOR® for guidance. A REALTOR® has the experience and training that’s needed in a high stress housing market like this one. They have many tools that are not common to the general public such as, the Multiple Listing Service, a co-operative service that many brokers participate in. A REALTOR® will set up a listing search portal for their client that generates a notification immediately after a listing goes active on the market. A REALTOR® is trained in the negotiation process and is held to high standard of continuing education requirements each year. Are you looking for a REALTOR® but you’re not sure who you should contact? Many home buyers rely on referrals from family, friends and co-workers to find a REALTOR®. These professionals are proud to say they built their businesses on referrals from satisfied customers. A REALTOR® is a member of a Local, State and the National Association of REALTORS® and abides by a strict Code of Ethics to protect property rights of all Americans. In addition, they are home buyers and sellers just like you. Ask for a referral and contact a REALTOR® today! The 1000 member Northern Kentucky Association of REALTORS® and the 1380 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.