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Lexington Ky Homes For Sale, A Shortage Update

Last month I reported on the shortage of one level homes for sale in Lexington, KY.  This is an updated report with specific numbers of homes for sale, pending and that have sold in the past six months in Fayette County.

 

These are the specific criteria for the homes that are in great demand in Fayette County.

All of these homes are one level, have a two car attached garage and 3 bedrooms or more.  These homes also have 2 full baths or more and are 1400 square feet or larger.  I limited the price to $299,000 or less since most baby boomers I know are wanting to limit their spending.

There isn’t any way to search to make sure the homes are on level ground.  That means some of these homes would not be a good fit for most baby boomers.

I searched by zip code and these are the results:

40502  There are no homes available for sale that meet this criteria, there are no homes pending and nothing has sold the past six months.  When I bump up the price to $500,000 I find 3 homes for sale.  The lowest price is this home on Albany.

40503 There are no homes active but there are two pending.  The average size for those pending is 1750 square feet and the list price is $265,000.  That is $151 a square foot.  Eight homes have sold in the past six months for an average of $238,125.

40508   One home in this zip code is on the market but none are pending and none have sold the past six months.

40509  There are six homes for sale that meet the criteria .  This is the lowest priced home and this is the highest priced.  Twelve homes are pending and 23 have sold in the past 6 months.  The average size and price of the homes that sold is 1760 square feet and $225,212.

40511  Five one level homes that meet the criteria are for sale.  The average asking price is $240,320 and the square footage is 1873. Twenty homes are pending and 38 have sold in the past 6 months.  The average price per square foot for homes that sold was $120.

40513  There are no homes active.  Two homes are pending and one that has sold in the past six months.  The average price of those 3 homes per square foot is $147.00 a square ft.  These are the two homes currently on the market in 40513.  2769 Ashbrooke Drive and 3000 Dunston Lane.

40514 There are again no active homes for sale.  There are three homes pending.  The average price per square foot of those sold was $133.

40515 Once again there are no homes active for sale that meet these criteria, 8 homes that are pending and 12 that have sold in the past 6 months.  The average price per square foot was $125.00.

General Conclusions about the state of the market for one level homes in Fayette Count

Lexington Ky homes for sale that are only one level

Paul Campbell

Paul Campbell with The Agency in Lexington Ky.

that are located southwest of downtown Lexington are selling very quickly.  In fact if you are n the market for these homes you need to have me set up a search so that you will know when they come on the market in real time.  That is how I recently helped a client purchase a home in the 40514 zip code.

There are more homes available in the north and southeast areas of Lexington.  However, even in these areas the supply is limited and offers need to be made quickly.

The GREAT NEWS is that if you live in a smaller one level home and are looking for a larger two level home you are in a very sweet place.  I will write about that tomorrow.