What is Happening to Housing Prices in Central Kentucky in 2012?

Housing Prices Were Down in Central Kentucky for 2012.

The average price of a home that has sold in 2012 in Central Kentucky was over $10,000 less than the sale price price of homes in 2011.

The average sale price of homes in Central Kentucky so far this year is lower than 2003.

Why Have Prices Dropped?

Why is this?  I think a big part of this has to do with what is selling.  There is a large inventory of homes right now that are bank owned or short sales.  Investors are buying up these homes and renting them or fixing them up and reselling them.

So if you are selling your home these lower prices may not reflect what has happened to your home.  Lexington continues to have hyper local markets.  There are places in Lexington where the prices have actually risen the past few years.  There are other places which have seen a large decline.  As we explore this months Rector Hayden Market Report you will notice that there are also differences from city to city and county to county.

Check out this link to read the earlier market report post for February 2012

Sales Prices in Central Kentucky Homes Continue to Decline

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  1. […] reported in a post written in March that Central Kentucky prices of homes sold in 2011 had dropped below the prices of homes sold in […]

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