March 2014 Northern Kentucky Home Sales – Average Price Is Up

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The average home sale price for Northern Kentucky rose 2.09% in March 2014 as compared to March 2013.

Sales units were off by 7.38% as compared to last year due to extreme winter conditions that extended into March.

March 2014 versus March 2013

  • 7.38% Decrease in homes sold (414 units versus 414 units)
  • 2.09% Increase in average price ($153,676 versus $150,523)
  • 89 average days on market (versus 96 days)

January – March 2014 versus January – March 2013

  • 1.72% Increase in home sold (1,125 versus 1,106)
  • 1.15% Decrease in average price ($141,974 versus $143,632)
  • 87 average days on market (versus 97 days)

Northern Kentucky is still experiencing a low inventory of homes on the market.  The Northern Kentucky Association of Realtors reports that low inventory typically drives home prices higher.

Statistics: Northern Kentucky Association of REALTORS March 2014 Home Report

 

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