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Frequently Asked Questions
The median home price in Central and Southern Kentucky is approximately $242,000, which is up by 10% over 2021. Inventory in 2022 is higher by about 5 percent than in 2021, and most homes stay on the market for a little more than three weeks before selling. The entire Bluegrass region is a competitive market, and many homes receive multiple offers and sell above their list price.
The region has a vast assortment of housing options available – single-family, condos, townhomes, multi-family, duplexes, apartments and garden homes. Throughout the area, you can find downtown living, a suburban lifestyle or rural living. In the Bluegrass area, farms of all sizes are available. In certain locations, you can get water-front and vacation homes mainly around the rivers and lakes including Kentucky River, Lake Cumberland, Cave Run Lake, Herrington Lake, Laurel Lake, Green River Lake and more. In the more rural areas like Red River Gorge/Natural Bridge and the Daniel Boone National Forest, cabins and mountain homes are plentiful.
As a general rule of thumb, homeowners are wealthier because they are investing in real property which may appreciate over time. Since the Bluegrass state is a wonderful place to live, homes here are in demand and have appreciated annually at an average of 10 percent. But even if your home doesn't appreciate at that pace, you're still investing in something you own, rather than paying rent.
Most people know Central and Southern Kentucky as horse country set in gently rolling farmland. That's one reason people often say Bluegrass when they think of our region. But the area offers much more than horses. This region is home to some of the best outdoor activities found anywhere in the country, a thriving arts culture with a variety of concerts and festivals and a revived distillery scene that is now accompanied by an extensive brewing niche. Some consider Lexington, the heart of the region, to be a “big small town,” even though it is Kentucky's second largest city and offers a low cost of living and plenty of affordable housing.
Many REALTORS® will say that late summer and early fall are the best times to buy a home because sellers can be motivated to sell before the holidays and there may be fewer buyers in the market. However, Central and Southern Kentucky, with its distinct four-season weather, traditionally has a fairly even buying pattern throughout the year. Depending on a client’s needs, there are many factors that go into the purchase of property so it is recommended to meet with a REALTOR® to find out what, and where, works best for a particular situation.