FLORENCE, Ky. – Northern Kentucky seems to be on an upswing when it comes to home sales.
The numbers don’t lie. Home sales rose in October by 8.9 percent. This is 38 more homes sold than this time last year. A slight rebound from 2008, said Johnny Hodge, president of the Northern Kentucky Association of Realtors.
"That’s good news for home sellers," said Hodge.
While August and September were slow, he said, the month by month numbers show growth, especially in June and July.
The average selling price has spiked as well. October’s average home sale was $144,597, compared to September’s $134,944—nearly a 7.2-percent bump.
"Middle market sellers may decide to test the waters since prices seem to be rebounding," said Hodge.
He said that a lot of the credit should go to the First-Time Homebuyer Tax Credit—nearly half of the home sales in 2009 in Northern Kentucky were first-time homebuyers.
"There’s never been a better time for home seller’s to jump into the market. It’s amazing how the First-Time Homebuyer Tax Credit has stimulated the housing market locally."
