Northern Kentucky Home Sales Report for August 2014

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Northern Kentucky unit home sales were down by 5% in August 2014 as compared to August 2013. However, the average sale price increased by almost 3%. To keep things in perspective, 2013 was a record year in which home sales were the highest since 2006.

Average sale prices are increasing due to: lower home inventory levels, an increase in the number of buyers and low mortgage interest rates. Market conditions are very good if one wants to sell a home now.

August 2014 vs August 2013

  • -5.21% Decrease in unit homes sold (582 vs 614)
  • 2.94% Increase in average sale price ($161,539 vs $156,930)
  • 1.38% Increase in median sale price ($139,400 vs $137,500)
  • -2.43% Decrease in dollar volume
  • 75 Average days on market vs 77 days in 2013

January – August 2014 vs January – August 2013

  • .10% Increase in unit homes sold (3,991 vs 3,987)
  • -.54% Decrease in average sale price ($154,824 vs $155,660)
  • -.57% Decrease in median sale price ($134,225 vs $135,000)
  • -.44% Decrease in dollar volume
  • 80 Average days on market vs 86 days in 2013

 

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