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.
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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.