Local homes sold in February hits five-year high for GORA

March 17, 2020 | 12:05 am

Updated March 16, 2020 | 10:51 pm

Once again, the Greater Owensboro REALTOR Association (GORA) is announcing record-breaking numbers for 2020. According to Karen Gross, 2020 president of GORA, the number of units sold hit a five-year high for the month of February.

“This strong seller’s market continues into the second month of 2020,” Gross said. “Over $20,000,000 in real estate was sold last month. Inventory is at its lowest level in years and day on market remains low; now is the time to call a REALTOR and sell your home.”

The success GORA has seen this month follows a similar pattern to January’s numbers, as GORA reported a record-breaking January as well.

Gross said that streak is expected to continue, citing a high level of pending listings at the end of February to indicate a strong March to come.

GORA recorded 124 units sold in Feb. 2020 compared to 112 the year before.

The average price for units sold skyrocketed from $145,633 in Feb. 2019 to $168,507 last month. Overall, GORA total sales increased by over $4 million compared to last year.

The number of active listings decreased, however, from 378 in Feb. 2019 to 282 in Feb. 2020. On the last day of the month, GORA reported 173 pending sales this year, compared to 147 at the end of Feb. 2019.

Because of the increased demand for homes in the area, officials with GORA credit the professionals for helping so many people find homes despite lower-than-usual inventory.

“Having a REALTOR as a local market is the only way to get the competitive edge in this market,” said Jason Bellamy, GORA’s 2020 president-elect.

March 17, 2020 | 12:05 am

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