Lexington, KY Homes For Sale - Kentucky Real Estate | BEX Realty (2024)

FAQs

Is Lexington KY a buyers or sellers market? ›

Sale-to-list price ratio: 100% Homes in Lexington, KY sold for approximately the asking price on average in July 2024. Lexington, KY is a buyer's market in July 2024, which means that the supply of homes is greater than the demand for homes.

Lexington Real Estate Market Characteristics

The Lexington Real Estate Market is recognized for its stability and growth, reflecting a dynamic economic backdrop. A notable characteristic of this market is the median listing price, which presents an insightful gauge for potential buyers and investors.

Actor Steve Zahn — known for HBO's “Treme,” the “Diary of a Wimpy Kid” movies and many, many other roles — lives in Lexington. The Minnesota native moved here with his wife, Robyn Peterman Zahn (daughter of clothier John Peterman) and together they co-direct the local theater troupe The REP.

“[Lexington] ranks third from the bottom, despite being a sought-after area with a median sale price less than the national average. A co*cktail of scarce inventory, a high unemployment rate among under-25-year-olds, and median household income not even hitting $25,150 make homeownership difficult to attain for Gen Z.”

Best Time to Sell Your House for a Higher Price

June, July, and August are the best months to sell your house in Kentucky. The median sale price of houses in July 2023 was $261,800, which is expected to rise in 2024. However, cities like Madisonville and Bowling Green follow an upward trend throughout the year.

$210,684. The average Kentucky home value is $210,684, up 4.6% over the past year and goes to pending in around 11 days.

Lexington's cost of living is 9% lower than the national average but 10% higher than the rest of Kentucky. Officials with the city say Lexington is a unique area with farms as well as universities, and both drive up wealth within the city, causing the average income and rent to go up.

Lexington is consistently ranked among the most affordable cities for early retirement because of its inexpensive housing, accessible healthcare, and generally low cost of living.

Who should not invest in real estate? ›

People without capital. While there are ways around cash on hand when you're looking for money for a down payment, including a HELOC loan or down payment assistance, investing in real estate without capital is not the best idea. It can put individuals in a precarious financial situation if anything were to go wrong.

The wealthiest area in Lexington is Chevy Chase, with a median home price of $764K. The second most affluent area is Beaumont.

White: 71.81% Black or African American: 14.7% Two or more races: 6.35% Asian: 4.12%

Glenview

The richest city in Kentucky is Glenview, which is famed for its historic estate homes perched on lofty bluffs, offering breathtaking views of the Ohio River. With a median household income of $250,001, it has the highest household income in Kentucky.

Tamara Gustavson, the daughter of the late business titan B. Wayne Hughes and co-owner of Lexington's prestigious Spendthrift horse farm, has once again been recognized by Forbes as the richest person in Kentucky.

Delong Manor is a 24,253-square-foot behemoth, listed for $14.5 million. The home is one of the largest, if not the largest, in the state. “We believe it's the largest home in Lexington for sure, and we believe that it's still the largest home in the state of Kentucky,” Schuerman says.

Lexington is the largest and most wealthy town in Kentucky, or indeed west of the Allegheny Mountains; the main street of Lexington has all the appearance of Market Street in Philadelphia on a busy day ...