The number of single-family homes sold in Central Kentucky in the first three months of 2009 fell 28 percent compared to a year ago, but their median price dropped just 4 percent, bucking the national trend that has crippled many parts of the country.
The Lexington-Bluegrass Association of Realtors announced the numbers Monday, saying sales closed for 1,161 single-family residential homes in the quarter. The year-over-year percentage drop worsened compared to the first quarter of 2008, when sales were down just 10 percent from 2007.
The median sales price for residential homes was $135,000 in March 2009, down 4 percent from $140,000 in March 2008. In March 2007, the median sales price was $148,600.
In a bright spot, the average days on market for a home stayed the same, at 102 days in both March 2009 and March 2008.
Also, inventory continued to fall, with 6,159 homes available in March compared to 6,380 in March 2008.
LBAR represents more than 2,100 Realtors in 14 Central Kentucky counties.