Home sales were up dramatically last month, the third month of growth after more than a year of real estate stagnation.
The Lexington-Bluegrass Association of Realtors reported that home sales in September 2011 rose 36 percent over the same month in 2010.
Last month, 583 homes sold for $96.4 million; in September 2010, 430 homes sold for $75.2 million.
Year to date, sales are down more than 6 percent, however. So far, 5,379 homes have sold for $882.5 million; at this point last year, 5,770 homes had sold for $978.4 million.
The median sales price dropped 1 percent in September, to $143,600 from $144,950. Year to date, the median sales price is also down 1 percent, to $138,800 from $140,000.
The Realtors also reported that months of inventory declined for September, from 14.8 months to 10.7, and pending sales rose 7.9 percent over September 2010.
Total inventory is down 5.1 percent from this time last year, with 6,545 properties for sale.
Building permits have also seen a rebound: In September, the city issued 78 building permits for single family residences, townhouses or duplexes, up from 46 issued in September 2010.
The LBAR region covers Anderson, Bourbon, Clark, Fayette, Franklin, Garrard, Jessamine, Montgomery, Nicholas, Powell, Scott and Woodford counties in Central Kentucky.