Category: Housing Market Report

September Events

Post author By RHRNews
Post date August 2, 2017

Whether you’re into football, farmer’s markets or festivals – you’ll find so much to enjoy in Lexington and Central Kentucky in September! Here are some of our favorites.

Lexington Roots & Heritage Festival

September 8 @ 8:00 am – September 10 @ 5:00 pm

Lexington Roots & Heritage Festival A pinnacle of regional diversity providing entertainment & education for all ages. The colorful pageantry of the festival, combined with its high quality offerings of cultural and educational programs, has earned its recognition as one of the Top Twenty Events in the Southeast by the Southeast Tourism Society and One of the Top Ten Festivals in Kentucky.
Find out more »

5k Superhero Run

September 9 @ 8:00 am – 5:00 pm | KY Horse Park

There will be a 1K for kids 12 and under (begins @ 8:30AM) and a 5K for all ages (begins @ 9AM). The 5K is a competitive distance verified course with chip timing. However, walkers are welcome! Many fun family activities, including face painting, bouncers, games, crafts and food. Details Saturday, September 9, 2017 – Saturday, September 9, 2017 Venue: Kentucky Horse Park

Find out more »

Summer Japan Festival

September 9 @ 8:00 am – 5:00 pm

Summer Japan Festival This year’s Summer Festival is set to be the best one yet! Traditional musicians and performers, a ninja obstacle course, marketplace, and more await – with plenty of cultural booths and activities for the kids. Fun for the whole family.

Find out more »

First Time Home Buyer Seminar

September 12 @ 6:30 pm – 7:30 pm

Have you ever wondered how to start the process of buying your first home? Please come and attend a free seminar that will help you learn how to pursue your dreams! Find out more »

SpoonBread Festival 2017

September 15 @ 8:00 am – September 17 @ 5:00 pm

Tons of FREE family fun for all ages! 2017 Schedule of Events coming soon! Check https://www.spoonbreadfestival.com/ for more info! 1-Mile Fun Walk, 5K Run, Antique Tractor Show, Car Show, Corn Hole Tournament, Dog Show, Hot Air Balloon Glow and Rides, Motorcycle Poker Run / Show / Rally, Pageant, Parade… Find out more »

HarvestLEX 2017

September 19 @ 6:30 pm – 9:30 pm | Manchester Music Hall

The Bluegrass Chapter of the KRA will host its inaugural 2017 Harvest Lex (presented by Visit LEX and Beyond Grits) in partnership with Manchester Music Hall. Lexington’s finest restaurants, wineries, breweries and distilleries will be offering up tastes of their best harvest, in celebration of our community of great food and great people! Find out more »

KY National Horse Show

September 20 @ 8:00 am – September 24 @ 5:00 pm | Alltech Arena at the KY Horse Park Find out more »

Anderson County Burgoo Festival

September 22 @ 8:00 am – September 24 @ 5:00 pm

LOTS OF BURGOO Lots of burgoo, music, and entertainment, and vendors of all kinds. Find out more »

SCAREFEST 2017

September 29 @ 8:00 am – October 1 @ 5:00 pm | Lexington Center & RUPP Arena

Cars that are possessed by evil spirits, psychics and mediums, professional ghost hunters, science fiction stars and authors, you have to see this event to believe it. ScareFest will “make all your screams come true”! Find out more »

There’s More to Do in the Month of September! #LexHaveFun

Family Friendly Events | ? Equestrian Events ? | ? Farmers Markets ? | ? Live Music ? | FREE Events

Home Insights Housing Market Report Neighborhood Insights

[From Fayette PVA] Demand for Homes in Lex Outpacing Supply!

Post author By RHRNews
Post date May 26, 2017

DEMAND FOR HOMES IN LEXINGTON OUTPACING SUPPLY

[From the FayettePVA E-mail Newsletters: May 24, 2017]
Fayette County must produce 22,780 additional housing units in the next eight years to fully meet the demand of a projected influx of 40,000 new residents by 2025, according to a new housing demand study. The link to the full and final report is found below.

Click here for PDF

The report is sponsored by Fayette Alliance, homebuilders, realtors and various local government agencies including Fayette County Property Valuation Administrator, David O’Neill, who jointly issued an executive summary in May.

Based on recent buying trends and consumer polling, projected housing demand includes the need for 15,160 new single-family detached houses, 6,275 apartments and 1,345 condominiums and “other” units by 2025 or nearly 3,000 new housing units per year, which would require more than doubling current production levels.

Although the study stops short of making pricing and economic predictions, “it tells me that continued failure to keep pace with demand will drive up housing costs and place the heaviest burden on those at lower incomes,” said O’Neill. “The poor, working class and millennials are increasingly looking to surrounding counties for better affordability. Jessamine, Madison and Scott counties are growing faster than Fayette, especially Scott by a factor of 2 ½ to 1. “

“The shortage of housing is also driving homebuyers and investors into previously overlooked neighborhoods in and around Lexington’s urban core, resulting in the negative effects of gentrification including displacement, increased housing prices and a reduction in the number of affordable housing units. ”

“As a community we have a duty to address these complex and interrelated issues in the 2018 Comprehensive Plan update,” O’Neill continued, “regardless of whether we increase the availability of buildable land through expansion of the urban service area, we must profoundly and rapidly improve our strategy for incentivizing and increasing infill, redevelopment and urban density. But as we’ve seen, urban infill and redevelopment comes at a cost – any discussion of expansion should be accompanied by guarantees of a net increase in the number of affordable housing units and improved housing affordability in general.”

For weekly and monthly sales summaries and detailed property information including real-time sales data visit www.FayettePVA.com. For more information or questions, contact Fayette County PVA David O’Neill at david.oneill@ky.gov or call (859) 247-2722.

Our mailing address is:

Fayette County PVA
101 E. Vine St. Suite 600
Lexington, KY 40507

Tags david oneil, fayette county, lexington, property value, pva, supply and demand

Home Insights Housing Market Report

Market Statistics Year-To-Date: April 2017

Post author By RHRNews
Post date April 6, 2017

Market Statistics

View Central KY Statistics | View Lexington-Fayette Statistics

Central Kentucky

April 1, 2017
RESIDENTIAL listings/sales
Lexington-Blugrass Association of REALTORS® Multiple Listing Service – Central KY (Areas 1-40)

[table width =”100%” style =”table-bordered table-hover” responsive =”true”] [table_head] [th_column]Statistics[/th_column] [th_column]YTD 2017[/th_column] [th_column]YTD 2016[/th_column] [/table_head] [table_body] [table_row] [row_column]Total active residential listings at this time[/row_column] [row_column] 2,926 [/row_column] [row_column]3341[/row_column] [/table_row] [table_row] [row_column]Months of Inventory[/row_column] [row_column]3[/row_column] [row_column]4[/row_column] [/table_row] [table_row] [row_column]Average List Price of Homes Sold[/row_column] [row_column]$190,798[/row_column] [row_column]$184,408[/row_column] [/table_row] [table_row] [row_column]Average Market Time of Homes Sold[/row_column] [row_column]74 Days[/row_column] [row_column]99 Days[/row_column] [/table_row] [table_row] [row_column]List Price VS Sale Price Ratio[/row_column] [row_column]97%[/row_column] [row_column]97%[/row_column] [/table_row] [table_row] [row_column]Number of Sales (Closings)[/row_column] [row_column]2,377[/row_column] [row_column]2,210[/row_column] [/table_row] [table_row] [row_column]Average Sale Price[/row_column] [row_column]$185,101[/row_column] [row_column]$177,915[/row_column] [/table_row] [table_row] [row_column]Overall Appreciation or Depreciation[/row_column] [row_column]+4%[/row_column] [row_column][/row_column] [/table_row] [/table_body] [/table]

Lexington – Fayette County

April 1, 2017
RESIDENTIAL listings/sales
Lexington-Blugrass Association of REALTORS® Multiple Listing Service – County of Fayette

[table width =”100%” style =”table-bordered table-hover” responsive =”true”] [table_head] [th_column]Statistics[/th_column] [th_column]YTD 2017[/th_column] [th_column]YTD 2016[/th_column] [/table_head] [table_body] [table_row] [row_column]Total active residential listings at this time[/row_column] [row_column]838[/row_column] [row_column]996[/row_column] [/table_row] [table_row] [row_column]Months of Inventory[/row_column] [row_column]2[/row_column] [row_column]2[/row_column] [/table_row] [table_row] [row_column]Average List Price of Homes Sold[/row_column] [row_column]$218,029[/row_column] [row_column]$206,706[/row_column] [/table_row] [table_row] [row_column]Average Market Time of Homes Sold[/row_column] [row_column]55 Days[/row_column] [row_column]72 Days[/row_column] [/table_row] [table_row] [row_column]List Price VS Sale Price Ratio[/row_column] [row_column]98%[/row_column] [row_column]97%[/row_column] [/table_row] [table_row] [row_column]Number of Sales (Closings)[/row_column] [row_column]1,049[/row_column] [row_column]921[/row_column] [/table_row] [table_row] [row_column]Average Sale Price[/row_column] [row_column]$213,207[/row_column] [row_column]$200,988[/row_column] [/table_row] [table_row] [row_column]Overall Appreciation or Depreciation[/row_column] [row_column]+6%[/row_column] [row_column][/row_column] [/table_row] [/table_body] [/table]

Information is based on residential homes listed and sold through the Lexington Bluegrass Association of Realtors (LBAR) Multiple Listing Service (MLS).Neither the LBAR nor its MLS guarantees its accuracy. Data may not reflect all real estate activity in the market.

Tags april 2017, home insights, market statistics

Whether you’re into football, farmer’s markets or festivals – you’ll find so much to enjoy in Lexington and Central Kentucky in September! Here are some of our favorites.

There’s More to Do in the Month of September! #LexHaveFun

The Monthly Market Report

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The Monthly Market Report

Will our hot local housing market continue into summer? See all the latest info and trends, in our exclusive Monthly Market Report!

The Monthly Market Report

So far in 2017, Lexington and Central Kentucky home sales are neck-and-neck when compared to last year! What do the next few months hold in store? See all the latest info and trends, in our exclusive Monthly Market Report!

Market Statistics

Central Kentucky

Lexington – Fayette County

The Monthly Market Report

Strong buyer demand and shrinking inventory – think higher prices could be ahead? See all the latest info and trends, in our exclusive Monthly Market Report!

The Monthly Market Report

Our local housing market has had a strong start to the new year!

The Monthly Market Report

Our local housing market has had a strong start to the new year!

The Monthly Market Report

After a record-setting year in the local housing market, what can we expect in 2017? We’ve checked our crystal ball for indications of what the future holds for Central Kentucky home buyers and sellers!

Strong buyer demand and shrinking inventory – think higher prices could be ahead?
See all the latest info and trends, in our exclusive Monthly Market Report!