Find Your Dream Home in Northern Kentucky

Find Your Dream Home in Northern Kentucky Florence, KY – September 22, 2016- The Northern Kentucky Association of REALTORS® and the Northern Kentucky Multiple Listing Service reported today that sales of residential property rebounded in August by 2% (681-637) month over month-16/15. Year to date through August, home sales were higher by 8% (4,590-4,247). Average home sale prices have skyrocketed in the NKY market, topping the record price of ($184,547) in July to ($193,003) in August.
 
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Year to date, the number of new listings entered through the NKY Multiple Listing Service was 3% higher than of the same time period in 2015 but, 3% is not nearly enough to accommodate the number of home buyers who are looking. With the number of home sales already 8% higher than last year, it’s easy to see how low listing inventory tends to drive sale prices higher. Until
NKY has more than 6 months of inventory available again, we expect to see a strong seller’s market which means buyers have to be ready to make an offer if they find the home they really want. In the chart below, NKY has only 3.3 months of listing inventory available at the rate properties are selling. This number should be about 6 to be considered a balanced real estate
market.
 
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In a tight real estate market, it’s a smart to work with a real estate professional who knows the local market and is familiar with the neighborhoods that interest you. A REALTOR® is skilled in contract negotiations and abides by a strict Code of Ethics to their client and to other REALTORS®. Your REALTOR® will guide and represent you through each step of the home
buying process. They live in the same neighborhoods and support their communities just like their clients do. REALTORS® build their businesses on referrals from past clients, friends and family. If you are ready to buy a home of your own, contact a REALTOR® today! You will be glad you did. The 1000 member Northern Kentucky Association of REALTORS® and the 1400 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.