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How's the Market in Lexington's Most Desired Zip Code 40502
40502 includes Chevy Chase, The University of Kentucky and the Lakes areas. These generally are homes that are in established neighborhoods. They are all close to downtown, the University of Kentucky and the major hospitals. Many of them also are waterfront properties and historic properties.
There are two facts that become pronounced when looking at the market in 40502.
Homes in the desired nieghborhood are selling. People want to live here and they will pay the premium prices to live here provided they are priced well.
Priced to sell means they will sell very quickly in 40502.
Look at these numbers when breaking down the prices and days on the market for sale in this desired Lexington neighborhood.
$100,000 to $200,000 Homes that sold in the past six months in less than 180 days. The numbers below are the average for 39 sales.
43 Days on the market Orig. Price 173,877 Sales Price 157, 847 Sales Price Percentage of Listing Price 92.9
$200,000 to $300,000 Homes sold in the past six months including everything over 180 days. There were 48 sales.
75 Days on the market. Orig. Price 270,379 Sales Price 246,742 Sales Price Percentage of Listing Price 94.3
$300,000 to $500,000 Homes that sold in the past six months in less than 180 days. There were 38 sales
39 Days on the market. Orig. Price 413,609 Sales Price 385,329 Sales Price to Percentage of Listing Price 94.21
$500,000 to $3,000.000 Homes that sold in less than a hundred days. There were 12 sales.
11 days on the market Orig. Price 783,258 Sales Price 723,417 Sales Price to Percentage of Listing Price was 92.39
Note: There were only a few homes for sale in Lexington's favorite neighborhood excluded because of a large number of days on the market. I felt like including those with huge numbers really did not give a clear picture of the marke in this zip cod.
Again, it is obvious from these numbers that if a home is priced correctly it will sell quickly.
Helping seller and buyers understand the value of the land they buy or sell is my passion. My work as a real estate agent is fulfilling because I am passionate about negotiating value. Sellers, let me help you maximize the value of your land even if it is just a small front yard. Buyers I will help you find a place even in the middle of Lexington that can help your family build a wonderful home. Give me a chance to look at your home, your land, your garden and I will give you some great ideas on how you can enhance the presentation of your home with a very small budget.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.