Northern Kentucky had strong home sales during August. The region had a 2.2% increase in the number of homes sold (as compared to August 2015) and an increase of 17.16% in average sale price.

Here are the statistics:

August 2016 vs August 2015

• 2.20% Increase in homes sold (651 homes vs 647 homes)
• 17.16% Increase in average sale price ($193,003 vs $164,733)
• 7.12% Increase in median sale price ($158,000 vs $147,500)
• 19.74% Increase in sales volume

January – August 2016 vs January – August 2015

• 8.08% Increase in homes sold (4,590 homes vs 4,247 homes)
• 7.48% Increase in average sale price ($175,784 vs $163,546)
• 6.37% Increase in median sale price ($152,000 vs $142,900)
• 16.16% Increase in sales volume

Homes are the selling quickly. The average days on the market was 50 days in August. In August 2016, the average days on market was 62. Year to date the average days on market is  61 days  (as compared to 73 days in 2015.)

There remains a shortage of homes on the market for sale. Mortgage interest rates are low. Home values are rising. It is a great time to sell your home.

Look at homes for sale here.

Statistics Courtesy of: Northern Kentucky Association of Realtors Home Sales Report,  August 2016