Here are some things that have been on The LEXpert’s mind lately:
- I am seeing more and more interest in the houses around Liberty Road and Henry Clay Blvd. About 25 years ago I saw that once Kenwick got expensive, interest would move to the Courtney/Clayton area. And once those prices shot up, it would keep going further down Henry Clay Blvd. What I didn’t see back then was that Delaware would become a hip spot for businesses and restaurants. Back then, we all thought it would remain the scuzzy industrial area it had always been. You watch, once the National Avenue area gets filled and rents go up, you’ll see more businesses you want to frequent along Delaware and Winchester Road. The great thing about the Henry Clay/Liberty Road area is that you are minutes to downtown, minutes to NoLi, and minutes to Hamburg. It really is an ideal location.
- Greenbrier is seeing a lot of sales. I have seen several that sold by word of mouth lately. A couple others sold extremely fast. I think it mostly has to do with the new school districts. It is no longer a nice neighborhood on the wrong part of town thanks to Hamburg. It is also no longer a nice neighborhood with a poor performing school district. It will attract people who want to have their kids in public school now. That makes for a broader market. That means more buyers for fewer houses. That means prices go up.
- The $350-500k market is strong in Lexington still, even as we get late in the year. Sales seem to come in waves. There might be a few slow weeks for certain parts of town and then, all the sudden, that area will have lots of sales in one week.
- Century Hills is blowing my mind. I have seen several 3 bedroom/1 bath houses without a garage sell for over $100k, some close to $110k. It wasn’t too long ago that the nicest ones out there were $95k! Percentage wise, that is a huge increase. Looks like we are back to the days where under $100k doesn’t get much.
- I think that the new Citation Blvd is going to be a big gain for the west side of town. That road really ties together all the neighborhoods between Georgetown and Leestown Road so well. It is easier to get in and out of that area too. It nolonger feels like a bunch of random neighborhoods scattered across the west side of town. Businesses are what the area needs. I think values will really go up if the residents of those neighborhoods do not have to go to Hamburg or south Lexington for shopping/dinning/entertainment. A nice big road like this might attract them.
This is an exciting time to be in real estate. Things are changing so fast. Prices are increasing in some areas, stable in others. Tastes are shifting too. It is a lot to keep up with…….every new business, every new road that opens changes how people feel about a location.