A nonprofit publication of the Kentucky Center for Public Service Journalism

Central Kentucky home sales decline in February due to frigid temperatures, lack of inventory

A cold stretch in the middle of February shook up the real estate market as a winter ice storm shut down much of Central Kentucky. For a two-week period, showings were less than the averages in both 2019 and 2020, and February ended with a 16 percent dip in foot traffic. By the end of the month, however, showings were back above the numbers seen over the previous two years. Although traffic to properties...

Despite frigid temperatures across Central Kentucky, bluegrass housing market remains hot in January

The first month of the new year saw colder temperatures but hotter activity compared to 2020. Total home sales reached 939 in January compared to 828 during January last year, an increase of 13 percent. Transactions in January were the highest monthly total on record, breaking the previous record from 2020. Single-family homes, townhouses and condos saw a sales increase of 13 percent for the month,...

Real estate sales in Central Kentucky hit new record through pandemic; inventory lags demand

Real estate sales shattered previous records in 2020 despite an ongoing pandemic. Transactions topped last year’s totals by 8 percent, hitting 15,309 in 2020 compared to 14,153 in 2019. For the month, December saw a monthly record of 1,284 sales, outpacing the previous year by 22 percent when sales were 1,054. With the exception of the second quarter (April through June), each month in 2020 tallied...

LBAR November housing report projects 2020 to be record year for real estate sales in Central Kentucky

Housing demand, coupled with record low interest rates, have positively impacted home sales in the Central Kentucky region for several years. And 2020 is not an exception. Transactions in November spiked 19 percent for the month over the same time last year, with 1,195 total sales versus 1,002 in 2019. The monthly total is a record for the month and pushed sales for the year up 7 percent. “Through...

Lexington-Bluegrass Association of Realtors Day of Giving benefits 10 local Lexington Charities

The Lexington-Bluegrass Association of Realtors (LBAR) held a Day of Giving to support local charities during the holiday season. The project, coordinated through the Community Education and Outreach Committee of LBAR, selected 10 organizations and awarded each with a $500 donation to help cover necessary costs during a time of the year when funding is needed the most. LBAR presents check to LExington...

Central Kentucky real estate continues hot streak into last quarter of 2020; winter slowdown not on radar

Home sales surged in October to the highest level on record for any month in the fourth quarter of the year. With 1,375 sales, the month saw an uptick in sales of 18 percent over the 1,169 sold in 2019. October marked the fifth straight month of year-over-year increases. Sales for the year are up 6 percent, reaching 12,624 transactions through the first 10 months of the year, compared to 11,963 last...

LBAR September housing report: Home prices surge as demand continues in Central Kentucky

Demand throughout the region has driven up home prices over the first nine months of the year. The median price of a home in September hit $209,900, a 17 percent increase over last year when the median was $180,000. The September median is up over 2 percent from the previous month and has spiked 21 percent from January. Home prices have risen for 19 straight months with September recording the fourth...

Building Institute of Central Kentucky receives grant funding in partnership with LBAR

The Building Institute of Central Kentucky (BICK) is receiving funding to assist traditionally underrepresented students enrolling in their Workforce Development Training Program through a partnership with the Lexington-Bluegrass Association of Realtors (LBAR). The funding will create a scholarship to help cover tuition fees for those who want a career in skilled trades like HVAC, plumbing, electrical...

Real estate sales spike to record high in July despite low inventory in Central Kentucky region

Despite record-low levels of homes for sale in the Central Kentucky region, real estate sales spiked to a new record high. Sales hit 1,583 in July, up 13 percent year-over-year when sales tallied 1,405, and up the same percent from the previous month. The monthly total was up 11 percent when compared to the previous sales record from June 2017 when sales topped out at 1,428. July’s total marks two...

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...