Residential home sales in Central Kentucky counties rose 13.4 percent in October, the Lexington-Bluegrass Association of Realtors said Monday.
The group, which represents Realtors in 11 area counties, said there were 473 residential sales that closed in the month, up from 417 in October 2010. Including sales of townhomes and condos, sales rose 15.8 percent to 512, from 442 last year.
"October was full of positive indicators," LBAR president Barb Curtis said in a statement. "Falling inventory, rising sales and increased pending sales paint a very favorable picture for the coming months. These metrics can often serve as leading indicators of the future market."
Pending sales increased 28 percent to 570 during the month, and inventory fell 3.7 percent year over year to 6,374 homes.
The average days on market for a home ticked up 1 percent to 97 days. Also, the median residential sales price in October fell 8.1 percent to $137,900 year over year.