Home sales in 14 Central Kentucky counties rose 6.3 percent in April compared to a year earlier, according to data released Thursday by the Lexington-Bluegrass Association of Realtors.
Home sales have improved dramatically year over year, beginning late last year, when buyers began to take advantage of the federal tax credit for new home buyers, which expired at the end of April. The program had been expanded to include a credit for purchases by those who already own homes.
The group said there were closings on 695 residential sales in April, up 35.7 percent from 512 in April 2009. The median residential sales price in April was $139,000, down 0.7 percent from $140,000 a year ago.
"We are seeing the highest numbers for pending sales since 2005, indicating heavy implementation of the $8,000 federal tax credit program," LBAR president Anthony de Movellan said in a statement. "We look forward to seeing the figures for upcoming months that reflect these record-breaking numbers."