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NKY Home Sale Prices Up 12% Compared to This Time Last Year

Northern Kentucky home sales in March surpassed the number sold a year prior by 4.74%, the Northern Kentucky Association of Realtors (NKAR) announced.

There were 619 local home sales in March of 2021 compared to 591 in March of 2020.

NKAR said that properties are going pending quickly.

Northern Kentucky’s housing market shows increases in every statistical category, especially in price, both monthly and, year to date, NKAR said.

Inventory is also low, and NKAR reported that it is not uncommon for a new listing to see more than twenty showings in a day, and the possibility of multiple offers being received increasing.

In addition to the volume of sales increasing year over year, the average selling price is also up.

In March of 2020, the average selling price for those 591 homes was $224,607. In March of 2021, the average price of the 619 sales was $245,658, an increase of 9.33%.

Comparing this part of the year to last year's, January through March, the average selling price is up over 12% from $213,941last year to $239,651 this year.

-Staff report

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