A nonprofit publication of the Kentucky Center for Public Service Journalism

Property inventory remains low as real estate sales rebound, indicating a strong summer ahead

The spring real estate season finally arrived but waited until the summer to finally heat up. After two consecutive months of year-over-year declines in home sales due to the ongoing pandemic, June real estate closed transactions jumped by 7 percent to 1,408 total residential sales, compared to 1,322 in 2019. This marks the fifth highest month on record for total real estate sales. Year-to-date, real...

Pending real estate sales surge in May, signals strong summer market; traffic resumes as economy opens

Pending sales in May reversed course from a month prior. April saw pending sales down 16 percent year over year, while May saw pending sales jump 8 percent, with 1,634 properties under contract, an all-time high, compared to 1,517 in 2019. This is a positive sign for how the summer months may play out for the real estate market. The volume of transactions that are under contract for the month comes...

Central Kentucky native Mike Inman inducted into Hall of Fame for National Association of Realtors

The Lexington-Bluegrass Association of Realtors has announced that Mike Inman has been inducted into the National Association of Realtors Hall of Fame. He joins an elite group across the country to earn such an honor as only a fraction of all realtors nationwide receive this honor and recognition. The National Association of Realtors Hall of Fame recognizes dedicated members who go above and beyond...

Real estate sales pause during spring season; buyer demand remains strong with rebound in foot traffic

For the first time since June of 2019, real estate sales in the region experienced a decline year-over-year, with the current pandemic and the ongoing inventory issues creating a ripple in the market. Total sales in April were down 18 percent over last year, with 968 transactions in 2020 compared to 1,180 in 2019. Single-family home sales dropped 19 percent, with 906 sales compared to 1,114 last year....

Real estate market remains optimistic amid onset of coronavirus; spring housing market may be delayed

The impact on Central Kentucky real estate through March was minimal, however, the region may see a delayed spring market as the crisis takes its toll on the economy. In March, real estate sales posted a 4 percent increase in total sales over last year, with 1,133 transactions in 2020 compared to 1,088 in 2019. For the first quarter of the year, total sales ended up 10 percent over the same period...

Lexington-Bluegrass Association of Realtors contributes $50,000 to Team Kentucky Fund

The Lexington-Bluegrass Association of Realtors Board of Directors have approved a $50,000 contribution to the Team Kentucky Fund, developed by Gov. Andy Beshear to deliver financial aid to those severely financially impacted by the COVID-19 pandemic. Aid provided by the fund, according to both the Governor and Lt. Gov. Jacqueline Coleman, will help cover mortgages, rent, utilities and other needs...

Home sales remain at record levels in February; market uncertainty may affect spring sales

Real estate sales tallied the highest February numbers ever recorded in 2020. At 881 transactions, this year saw a 9 percent gain over the 805 home sales in February 2019. For the year, sales are up 14 percent after a record setting January. With 1,733 total residential sales year-to-date, 2020 is off to a great start. Single-family home sales saw an increase in sales of 8 percent, with 819 total...

Real estate market picks up where 2019 left off; pending sales indicate transactions to continue climb

The first month of a new decade saw a huge boost in real estate sales, jumping 20 percent versus 2019. Total home sales reached 828 in January compared to 691 during January last year. This is coming out of 2019, a record year in many ways, that ended up 7 percent over 2018 and, in December, posted an increase of 19 percent year-over-year. In January, single-family home sales saw an increase in sales...

Greg Buchanan installed as 2020 president for Lexington-Bluegrass Association of Realtors

Greg Buchanan has been installed as the 2020 president of the Lexington-Bluegrass Association of Realtors. Greg Buchanan Buchanan has served on the LBAR Board of Directors for four years previous and on numerous committees and task forces. In addition to his involvement at the local level, Buchanan is a member of the National Association of Realtors Strategic Thinking Advisory Committee and the Kentucky...

Inman, Imhoff receive prestigious 2019 honors from Lexington-Bluegrass Association of REALTORS

The Lexington-Bluegrass Association of Realtors (LBAR) presented its highest awards for 2019 at the recent Installation and Member Recognition Luncheon – Realtors of the Year, Good Neighbor and Distinguished Service – honoring outstanding realtors within the Association. Mike Inman was named LBAR’s Realtors of the Year for 2019. He is an agent with Coldwell Banker McMahan and member of LBAR for...

Home sales skyrocket to record levels in December, demand remains strong in Central Kentucky

Home sales surged in December, jumping 19 percent over 2018, to bring 2019 to a close as the highest year on record for real estate transactions. With 1,054 sales in the last month of the year, versus 887 in 2018, total sales for 2019 ended at 14,153, up 7 percent over the 13,278 sold last year. Single-family home sales saw an increase in sales of over 19 percent for the month, with 994 total sales...

LBAR’s November housing report: Central Kentucky real estate stays hot when the weather gets cold

The increase in demand for homes in Central Kentucky has largely contributed to the lack of housing inventory that has plagued the local market for many months. New listings were down in November by 2 percent compared to last year, but year-to-date the number of new listings is up 5 percent. The inventory issues are caused with the increase in sales throughout the year and the number of homes available...

LBAR’s October housing report: Cooler months heat up for Bluegrass real estate sales

Homes in Central Kentucky sold much quicker in October this year than in 2018. Days on market throughout the region fell 20 percent, with homes selling in an average of 41 days in 2019 versus 51 in October last year. More than 61 percent of all transactions occurred in less than one month with only 8 percent taking longer than four months. With homes selling so rapidly, and total sales surging, the...

Central Kentucky sees huge increase in home sales for September; buyer demand shrinks inventory

The start of the fall season has produced a robust real estate industry with the number of transactions in September skyrocketing. Sales were up 17 percent compared to last year, with total transactions for the month reaching 1,180, compared to 1,010 in 2018. September marks three consecutive months of year-over-year increases. Single-family home sales matched overall sales, rising 17 percent overall,...

Home sales continue to climb going into fall buying season; Central Kentucky’s August sales up 4%

The weather was hot in August and so was the real estate market in Central Kentucky. Sales were up 4 percent compared to last year, with total transactions in August reaching 1,389, compared to 1,339 in 2018. Single family home sales jumped 5 percent overall, 1,311 in August versus 1,252 in 2018. Condos/townhome sales dropped to 78 in August from 87 last year, a decrease of 10 percent. Year-to-date,...

Real estate sales bounce back in July; transactions increase 9 percent, second-highest monthly gain in 2019

After a minor slowdown in sales last month, real estate picked back up in July. Transactions increased 9 percent for the month, 1,405 in 2019 versus 1,294 in 2018, reaching the second-highest monthly gain for the year. For single family homes, sales increased from 1,217 in July 2018 to 1,318 this month, for an 8 percent increase, while condos/townhomes jumped 13 percent, from 77 last July to 87 in...

June housing report for Central Kentucky shows slower sales; total transactions slip four percent

Real estate sales in Central Kentucky slowed in June with total transactions slipping 4 percent year-over-year. This was the first monthly decline since January and follows a double-digit increase in sales from last month. Sales reached 1,322 in June versus 1,380 in 2018. Single family homes were down 3.6 percent in June versus last year while condos/townhomes dropped by 12 percent. The condo/townhome...

Lexington-Bluegrass Association of REALTORS saw home sales rise for second time in 2018

Total real estate sales by members of the Lexington-Bluegrass Association of REALTORS (LBAR) increased in August for the second time in 2018. August sales activity ticked up 2.1 percent with 1,339 sales reported compared to 1,311 sales reported in August 2017. Single-family home sales were 1,252 in 2018, an increase of 1 percent over the 1,238 homes sold in August 2017. Townhouses and condos saw a...

LBAR records $269.2 million in real estate sales in July; sales down four percent from 2017

Real estate sales by members of the Lexington-Bluegrass Association of Realtors positively impacted the Bluegrass economy as of July 31 with 1,294 reported sales totaling $269,237,011. July sales activity decreased four percent with 1,353 sales reported closed in July 2017 compared to 1,294 sales reported closed in July 2018. Of the 1,294 sales, 301 sales were to first-time homebuyers and 172 sales...

LBAR announces $1.29 billion in Bluegrass real estate sales in first half of 2018

Real estate sales by members of the Lexington-Bluegrass Association of Realtors positively impacted the Bluegrass economy as of June 30 with 6,418 reported sales totaling $1,288,808,869. “Although the number of total closed units is down, we have seen an increase in overall closed sales volume,” said 2018 LBAR president John Groft. “This is largely a factor of the six percent increase...