Lansdowne Merrick Subdivision 5 Year Market Report, Lexington Ky 40502

Lansdowne Merrick Subdivision 5 Year Market Report, Lexington Ky 40502

Lansdowne Merrick Subdivision, Lexington Ky A saltbox style home at the end of a street.

 

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.

Lansdowne Merrick Subdivision is a neighborhood that is a short commute from downtown Lexington and the University of Kentucky.  It is inside New Circle Road and an easy walk to Chinoe Center and Lansdowne Shoppes.  It is also a short walk to Julius Marks Elementry.  For more details on this coveted neighborhood click on this link.

This is neighborhood that just does not have a large turnover so our numbers of home sold is not very large.  There are still some interesting things that can be learned from looking at these first two graphs below carefully.

Lansdown Merrick Subdivision 5 year market report, Lexington Ky 40502

There is a dramatic reverse corelation between the number of homes sold and price for the first four years and only a slight difference in 2012.  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 when the number of homes on the market stayed high?  Could it be that buyers have recognized these homes are really a very good value?Take a careful look at the cost per square foot bar graph below.  Even though prices went up almost 10 percent in 2012 the prices per square foot of homes sold in Lansdowne Merrick went down over over 10 percent.  Read below the detailed explanation.  

 

Sellers,  this may be a very good time to put your home on the market if you live in Lansdowne Merrick.  Buyers, with the interested rates still historically low you can still buy on 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 pcampbell@rhr.com  Click on the link below to see the homes currently for sale in Lansdowne Merrick Subdivision.

The homes for sale in Lansdown Merrick currently range in price from $148,000 to $272,950.

 

Lansdowne Merrick Subdivision 5 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.

Two things that stand out on these two graphs.

  • The days on the market for 2012 have dropped significantly.
  • The size of the homes is significantly larger for 2012.

So what does this mean? 

It means that buyers were eager to snap up these larger homes because they recognized real value.  In 2011 homes in Lansdowne Merrick subdivision sold for $93.41 a square foot.  In 2012 they sold for $84.19 a square foot.  Prices of homes sold increased per unit but they were a great value because of the size of the homes that sold.

Emerson Woods Subdivision, Days on the Market and square footage of homes sold for five years, 20008-2012

Lansdowne Merrick Subdivision 5 Year Market Report, Lexington Ky 40502 Days on the Market and square footage of homes sold for five years, 20008-2012 

 

 

 

 

 

 

 

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