Somerset and Lake Cumberland Feb. Real Estate Report!

Well there has been a few changes in the past month, and the repor below will reflect on some of those. Please take a look and see what you think about Somerset & Lake Cumberland's Real Estate future.

Here's your Feb. 2009 Report:

I will be listing 2009 first followed by 2008's.

Number of Homes Sold: Feb. 2009 32 / Feb. 2008 46

Number of Lots & Acreage Sold: 10 / 13

Average Closing Price: $124,947 / $100,300

Average Days on Market Residential: 141 / 193

Average Days on Market Lot & Acreage: 163 / 129

Difference of Sales Price- % of Current List Price Residential: 91.05% / 92.53%

Difference of Sales Price- % of Current List Price Lot & Acreage: 90.95% / 85.71%

Sell Price Total Residential: $3,170,845 / $4,570,920

Sell Price Total Lot & Acreage: $355,000 / $488,500

Number of Residential Homes on the Market: # 930

Number of Lots & Acreage on the Market: # 1042


If you notice that some of the numbers are lower compared to last Feb. But also by the looks of these numbers home's with a higher price compared to last year are selling better. Take a look at the Average closing repoprt above. Are average closing cost is up $24,647. So either home values are going up, or we just have some really good agents out there doing some good negotiating.

Also take a look at the Average Days on Market report and you will notice that homes are staying on the market for less days. So maybe it's getting a little bit easier to sell?

Well please take you time and read through these reports to get an idea on what is happening here in Somerset Kentucky regarding our real estate market.



I hope you find this helpful! Thanks and have a great weekend

Adam Gullett

www.somersetliving.com