Lexington, KY - Local Housing Data - Summary

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Lexington, Fayette, KY

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Lexington, KY Local News

New Home Prices Rise in Lexington According to Recent Figures, Sales Fall

Posted on: Aug 08, 2014 11:32:42 AM

Closings of new homes fell year-over-year in May in the Lexington, KY market, and the decline was by a larger percentage than the April 2014. New home closings moved from 8 a year earlier to 2 after the figure moved from 20 in April 2013 to 10 in April 2014.

A total of 75 new homes were sold during the 12 months that ended in May, down from 81 for the year that ended in April.

2 of the 550 total closings were new home closings, a shift on a percentage basis from 8 out of 625 a year earlier. For new and existing homes, closings sank in May after also declining in April year-over-year.

The average new home price was $294,894, up from $165,080 a year earlier. This followed a 17.5% rise in April year-over-year.

Other Market Trends

The share of new home closings made up by attached units has risen while the share belonging to single-family homes has fallen.

 
 
 

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