Residential home sales in Central Kentucky counties fell more than 17 percent year over year in June, the Lexington-Bluegrass Association of Realtors said Monday.
The group, which represents Realtors in 12 area counties, said there were 667 residential sales closed in the month, down from 804 in June 2010. Last year's numbers were affected by people taking advantage of the federal homebuyer tax credit, which expired in April 2010 but allowed buyers the following months to close the sale.
"The remainder of the year should provide an accurate view of where the housing market will stabilize," LBAR president Barb Curtis said in a statement. "The increase in pending sales during May and June 2011 is a positive, and we hope to see that trend continue in the coming months."
The median residential sales price in June was $145,000, up 0.7 percent from $144,000 last year.
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The average days on market for a home was 94, up 6.8 percent from 88 a year ago.
LBAR also reported that the inventory of available homes was down 1 percent, to 6,772 from 6,842 in June 2010.