Mayo Gas Info

The Lexington Herald-Leader reports that Lexington homes are more expensive than homes in Louisville KY. Information from the Coldwell Banker Home Price Comparison Index is released every year and allows home owners to size-up their home values against homes in 315 cities in the US. The average size home used as the base of the comparison is a 2200 square foot home with 4 bedrooms, 2 1/2 baths and a 2 car garage.

Louisville held the highest average home price record in the state of Kentucky for 2007. Then in 2008, Lexington homes were priced at $291,000 while Louisville stood at $241,060 – a stark contrast from the previous year. The average price across all 315 cities was $403,738 meaning that this area offers a substantial value for those seeking to own a home.

So Lexington real estate is the big winner for highest average home price for Kentucky for 2008. This trend will more than likely continue with the FEI World Equestian games on the horizon and with school test scores and other national ratings in Lexington’s favor. The luxury real estate market continues to gain momentum even with mid-priced homes lagging behind with high inventories likely to be the culprit. The first time home buyers tax credit has definately boosted first time home sales, but just like the “cash for clunkers” program, will more than likely create an artificial bubble of sales only to be followed by a sharp drop in sales after April when the program expires. Mid-priced homes have not been moving locally or nationally. Skeptics blame the economy and the job market for slow home sales. At this point, many potential homes owners are in a “wait and see” mode before they jump into moving into a new home. Come see us at welcome2ky.com