Kentucky ends 2013 with an improving real estate market
The Kentucky Association of Realtors reports that for 30 consecutive months, Kentucky has seen total home sales increase each month compared to the same month the previous year, with 21 of those months showing double digit gains. For the year, the number of homes sold was up over 15% reaching a total of 44,532 compared to 38,666 in 2012. Home prices in the state remained stable over the past year with only slight fluctuations from month to month. For all of 2013, the median home price in Kentucky was 109,100, which is just under a 1 percent increase form 2012 when the median was 108,750. On the national stage, total home sales for 2013 were the highest since 2006. Days on the market, another housing indicator, were down six percent in Kentucky, meaning that homes sold faster in 2013 than they did in 2012, a good sign that the housing market continues to head in the right direction.