2018 Lexington Ky Real Estate Predictions A 2017 Recap By Ty

Dated: 01/02/2018

Views: 40

Its 2018 and time for my annual quick recap of last year and predictions for this year. I stick to the Lexington Ky market because that is the area I am most familiar with, BUT it is usually pretty close to everything around it.


2017

Lexington KY

Homes Sold: 5284

Median Price: $186,000

Home Price Increase: 6% (5.91% to be more precise)

Average Days on Market: 34  Median: 8

68% of all homes sold in 30 days or less, the ones that did, sold for 98.67% of their listing price. Pricing right seems to be a tried and true strategy I guess.


40509 (My Main Area of Town)

Homes Sold: 1013

Median Price: $249,900

Home Price Increase: 8% (8.003 to be more exact)

Average Days on Market: 34 Days  Median: 8


By area 1-4 (1 is basically Northwest -Masterson/Downtown area, 2 is East Hamburg/Eastland, 3 South East Landsdowne, Hartland, 4 is Southwest Willow Bend/Palomar/Beaumont)

DOM: 31

% List Price Sold: 98.13

Median Price: $179,715

2

DOM: 38

% List Price Sold: 98.46

Median Price: $239,958

3

DOM: 34

% List Price Sold: 97.04

Median Price: $249,938

4

DOM: 32

% List Price Sold: 98.94

Median Price: $231,995


2018 Predictions


Lexington KY

Homes Sold: 5375

Median Price: $197,100

Home Price Increase: 6%

Average Days on Market: 31/7


40509 (My Main Area of Town)

Homes Sold: 1025 (supply is limiting factor)

Median Price: $264,800

Home Price Increase: 6% (less new homes available, new homes are generally higher)

Average Days on Market: 29 /6


Random Predictions: 

UK Basketball will not make Elite 8 or lose in Elite 8, its a bit fuzzy

The Lexington Mayor Race will be craziness

Centre Point will still not be completed

Cheapside will not reopen, even though they are still paying the electric and cable bill as the tv is still on in the bar area outside

We will get a major snowstorm, like more than 3 inches

Summer will be hotter than winter

Spring it will rain a lot and the market will be CRAZY again

We will gain 200 more stoplights in seemingly random places and they will still not be logically timed or use the road sensors

Andover will reopen and hopefully not as a goat ranch, or with any of the previous board members running it



What is your home worth? Click Here or Text: Sell to 859-888-1523

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