Business

Bluegrass Realtors report slight rise

Central Kentucky sales of single-family residential homes were up 1 percent in September over the same month a year ago, according to the Lexington-Bluegrass Association of Realtors.

Sales of existing homes were up 1.3 percent in September over last year.

Single-family residential sales for 2008 are down 14 percent as of Sept. 30 over the same period in 2007.

According to the National Association of Realtors, the nation saw a jump of 7.8 percent for existing home sales for September, largely attributed to home sales in western states that had seen high foreclosure rates.

The LBAR median sales price for existing homes was unchanged for September 2008 compared to one year ago at $134,900. Median means half of all homes sold for more than that figure, half sold for less.

Nationally, the country saw a 9 percent drop in sales prices.

The LBAR inventory of homes for sale is down 7 percent for September 2008 over September 2007.

Meanwhile, another real estate market watcher, First American CoreLogic, said home prices in Fayette County fell by 0.09 percent for August 2008, the most recent figures available, over the same period last year.

The company said national home prices fell by 11 percent from August 2007 with the median price being $203,900.

The current median home price in Fayette County is $145,000, according to First American.

Highest home prices in Fayette County were in the 40502 ZIP code, with a median price of $356,500. The lowest median price was $94,879 in the 40505 ZIP code.

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