Just a Few Blocks Away can make a Huge difference in prices of Home - West of Hamburg in Lexington

 JUST a Few blocks west can make a huge difference in the housing market in Lexington Kentucky near the Hamburg shopping area.

View Homes West of Hambug in a larger map

•      If you want to buy a home near Hamburg shopping you can save a $100,000 purchasing just a few blocks west of the popular shopping area.
•      You do not have many choices west but the prices are much less.
•      You will not find as many new homes but what you do find will also be much less than those homes near Hamburg.

Compared to the homes near Hamburg the homes west of Hamburg with the same search parameters are notably different.
In a previous post I wrote about the market condition of homes surrounding the Hamburg Shopping Area.  

This report focuses on the area west of the Hamburg area which is the newest large shopping area in Lexington Kentucky.
Hamburg is 15 minutes from Rupp Arena, 10 minutes from the University of Kentucky and 25 minutes to the Camry plant in Georgetown

Here is a chart that shows the numbers for which homes west of Hamburg are on the market, which have sold in the past six months and which have expired in 6 months.  Following this chart are the same numbers for homes that surround the Hamburg shopping area.

All of these single family homes were priced between $175,000 and $1,000,000.  They also had to be at least 1700 square feet and  have three or more bedrooms and three or more bathrooms.  These are exactly the same parameters I used for the homes that surround the Hamburg shopping area.

What is most striking is how few homes West of Hamburg have even been on the market this past six months.  It is obvious comparing these two charts that  these two markets are markedly different.  Geographically these two areas are very similar.  They both have homes that are built surrounding a portion of the same lake.   However the majority of the homes west of Hamburg are older.

This market report for homes west of Hamburg near Lexington Kentucky  is interesting and surprising  for several reasons.  

1. There are 10 times as many homes with these search parameters on the market near Hamburg as there are just west of Hamburg.

2.  Selling a home in this higher price range west of Hamburg is going to be a huge challenge.   It appears people are going to buy the homes that are closer to Hamburg shopping even if they have to pay a much higher price.

3.  The difference between the price of homes sold near Hamburg and those sold west of Hamburg is more than $90,000.

4.  More searching I suspect will find that there are a great number of homes west of Hamburg that are priced much lower and that are not in great shape.  So .... this may be the place to look to get a great bargain near Hamburg.




        
Call Paul 8596845890 or send me an email, pcampbell@rhr.com if you would like a free highest price market analysis for your home.