Emerson Woods Subdivision, Five Year Market Report, Lexington Ky 40517
These first two graphs show homes sold and the average price. Be sure to scroll down to view the graphs that show the number of days on the market and the square footage of the homes sold.
Emerson Woods Subdivision is a neighborhood that is a short commute from downtown Lexington and the University of Kentucky. It is about a mile outside of New Circle Road and an easy walk to Tates Creek Center for shopping and very close to Tates Creek Library. For more details on this coveted neighborhood click on this link.
This is a small neighborhood so the number of homes sold is not very large. There are still some interesting things that can be learned from looking at these first two graphs carefully.
There is a reverse corelation between the number of homes sold and price for the first all five years. The more homes that were on the market the lower the price sold. This is to be expected in most markets. So the interesting question is why 2012 prices took almost a 10 percent rise in 2012 after a continual downfall the previous four years. Could it be that buyers have recognized these homes are really a very good value, or was it just a matter of the number of homes for sale in Emerson Woods?
Emerson Woods Subdivision, Five Year Market Report, Lexington Ky 40502
These two graphs show the Days on the Market and the Square Footage of the homes that sold over the past five years in Emerson Woods Subdivision.
Two things that stand out on these two graphs.
- The days on the market for 2012 have increased.
- The size of the homes sold really has not varied significantly the past five years.
So what does this mean?
It means that buyers were taking longer to make their decisions. However, as noted earlier, prices actually increased ten percent in 2012. This price increase is likely due to the very small number of homes for sale in Emerson Woods in 2012. With only five single family homes for sale and three townhouses in 2012 in Emerson Woods, the owners were able to wait for the price they wanted.
Sellers, because of the limited inventory of homes for sale this may be a very good time to put your home on the market if you live in Emerson Woods.
Buyers, with the interest rates still historically low, you can still buy one of these homes with a very low monthly payment.
To get a free market analysis on your home, or set up an appointment to see one of these homes on the market, give Paul a call at 859.684.5890 or send him an email at firstname.lastname@example.org Click on the link below to see the homes currently for sale in Emerson Woods Subdivision.