LBAR Q1 Sales Top $100 Million

Residential real estate sales by members of the Lexington-Bluegrass Association of REALTORS® (LBAR) positively impacted the Fayette County economy in the first quarter of 2009 with 571 reported sales totaling $100,473,745. Sales continue to be a driving force in the Fayette County economy when considering the multiplier effect on the area of buyers and sellers who purchase appliances, carpet, flooring, landscaping, etc in response to their transaction needs.
The National Association of REALTORS® reported that the median sales price dropped 12.4% for the nation in March 2009. Median sales prices in Fayette County fell only 6% for the same time period. Median sales prices fell 3% for March 2009 compared to March 2008.
Additionally, for the Bluegrass region sales closed and pending inventory have increased over the past three months. LBAR President Gale Fulton says “While 2009 is different economic climate than 2008, we are seeing increases in sales, pending sales, stable median sales prices and days on market. This again shows that the Central Kentucky real estate market is not experiencing the crisis made so public by the national media.”
As the region’s leading advocate for homeownership, Lexington-Bluegrass Association of REALTORS® understands the value and joy of owning a home. LBAR represents more than 2,300 REALTORS® located in Anderson, Bourbon, Boyle, Clark, Fayette, Franklin, Garrard, Harrison, Jessamine, Madison, Mercer, Montgomery, Scott and Woodford Counties.