A quick look at the marketing statistics for February 2010 in Central Kentucky shows a rise in sales, pending sales and a stable median sales price for Bluegrass  homes.

Monthly % Change in Sales for Feb 2010 Central Ky. vs. Nation

Sales in the Central Kentucky region jumped 25% for February 2010 vs. February 2009.  This is more than triple the 7.9% rise in sales that the National Association of Realtors reported for the nation for the same time period. This dramatic difference between local and national data shows that the Bluegrass real estate market does not necessarily fluctuate as the national market does because all real estate is driven by local factors.

Also, sales are on an upward swing since the beginning of the year when compared to last year. This rise in sales is likely due to a combination of seasonal trends, the Homebuyer Tax Credit and low mortgage rates.

Monthly Percentage Change vs. Last Year for Total Sales

Pending sales in the Bluegrass also rose by 11% for February 2010 vs. February 2009.

Pending Home Sales

Listings in Central Kentucky rose 3% for February 2010 vs. February 2009. Just as more buyers are entering the market, more people are now feeling comfortable in placing their homes for sale. 

Inventory

Another factor that shows local stability is that the median sales price for single family residential homes in Central Kentucky rose 2% in February 2010 vs. February 2009. The National Association of Realtors reported a 1.8% drop in the median sales price for existing homes in the U.S. during the same month.

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