Home sales price spikes nearly 26 percent in one year

BOWLING GREEN, Ky. – The Realtors Association of Southern Kentucky reports record sales and falling inventory are creating more demand and higher values for homeowners.

RASK says the average sales price for residential property in Southern Kentucky is close to $250,000, a nearly 26 percent spike from last January.

On top of that, sales volume in Southern Kentucky is up nearly 60 percent from last January, in part from so many people moving into the area.

RASK advises local sellers to take advantage of these market conditions and maximize their investments.

2022 RASK 1st Vice President Kelley McGough said, “A lot of the people we have moving here are actually relocating from more expensive areas, so even though to us some of these home prices look unusually high, to them they’re still reasonable.”

McGough advises buyers to go ahead and bite the bullet and make their home purchases.

She said waiting for inflation and prices to drop has no guarantee time frame in the near future.