Central Kentucky home sales up in December, down for year

Residential real estate sales in Central Kentucky posted a 17 percent increase in December, but the surge in recent months wasn't enough to boost the yearly total above 2010's figures.

For the year, there were 6,649 sales reported by Realtors in 11 area counties, according to the Lexington-Bluegrass Association of Realtors. That's down 1 percent from 6,719 in 2010. It continues a yearly slide dating to 2005, when there were 10,333 sales.

"As 2012 begins, the real estate market in Central Kentucky will continue to stabilize," LBAR president Mary Anne Simmons said in a statement. "The spring market will ultimately be the major test as to the rate of recovery throughout the year."

During December, residential sales increased 17 percent to 570 from 486 in December 2010. The median sales price fell in December from $148,450 a year ago to $134,000.

Inventory, or the number of homes available for sale, continued its steady decline, as the figure fell to 5,503 from 5,955 a year ago.