01.24.2024

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Today’s Forecast

58° | Rain | 99% chance of precipitation
Sunrise 7:48 a.m. | Sunset 5:51 p.m.

🏠 Getting real about real estate

2024 Predictions for Lexington Real Estate

An aerial drone photo of a neighborhood, a highway, a lake, and the sunset behind clouds

Zone changes could mean more housing options around Lexington. | Photo by @shoeless.photographer

There aren’t enough flame emojis on the Internet to describe the Lexington housing market. According to a report from Rocket Homes, the median home in Fayette County sold for ~$302,000, a 6.6% jump year-over-year. Yowza.

Prices show few signs of cooling off. But for those hoping to dip their toes in the home-buying waters soon, it helps to know what trends to expect. Put on your floaties, and let’s hear what the local experts predict.

Look out for the ‘burbs

Corey Brown, a realtor at The Brokerage, said the big story for 2024 will be the rise of the suburbs.

“I think that your areas around Masterson Station and Hamburg will be hot zones... but a part of that is because those are the areas that have the most available land for new construction and subdivision development,” said Brown.

While the average for single-family home in Lexington is averaged at ~$284,000 according to data from Zillow, Brown said that fewer resale homes on the market means “buyers are turning to new construction.”

Don’t give up on LEX

Buyers hoping to find areas with a bit less competition may want to take Brown’s advice and turn to the suburbs, which he says is “the closest thing that would resemble affordable housing.”

But don’t fret, aspiring city dwellers. Jimmy Turek, realtor at Bluegrass Sotheby’s International Realty, also pointed to Castlewood Park, Highlawn, Southland, and Meadowthorpe as “hotspots for 2024.”

Worth it to wait?

Rocket Homes currently lists Lexington as a “seller’s market,” meaning prices are trending high while also selling fast.

Brown says that, with interest rates cooling off at the end of 2023, he believes it makes more sense to purchase the home you want, then refinance in a few years if necessary.

City Guides are presented by VisitLEX.

More tips for home buyers

Events

Wednesday, Jan. 24

Trivia Night | Wednesday, Jan. 24 | 7 p.m. | KSBar & Grille, 1030 S. Broadway, Lexington | Free | Test your knowledge at this trivia night hosted by Kentucky Sports Radio’s own Matt Jones.

Thursday, Jan. 25

CLUCKy Gathering | Thursday, Jan. 25 | 6:30 p.m. | West Sixth Brewing, 501 W. 6th St., #100, Lexington | Free | Come meet and learn from fellow chicken keepers, plus get a chance to win a heated poultry waterer.
Jeff Parker & The New Breed | Thursday, Jan. 25 | 7:30 p.m. | Singletary Recital Hall, 405 Rose St., Lexington | $10-$25 | See the Chicago-based musician touch on a variety of jazz subgenres, from popular to experimental.

Friday, Jan. 26

Four Roses Dinner Pairing | Friday, Jan. 26 | 6:30 p.m. | OBC Kitchen, 3373 Tates Creek Rd., Lexington | $180 | Enjoy a flight of 2018-2023 Four Roses Limited Edition Small Batches alongside a five-course dinner.

Saturday, Jan. 27

Mid-Winter Masquerade | Saturday, Jan. 27 | 7-11 p.m. | Chaotic Good: Coffee, Comics and Games, 545 S. Broadway, Ste. 160, Lexington | $81.88 | Don your best masquerade garb for a night of live music, ballroom dancing, and a silent auction to benefit Benchmark Family Services.

Sunday, Jan. 28

Drag Brunch | Sunday, Jan. 28 | 11:30 a.m. | Old North Bar, 101 W. Loudon Ave., Ste. 116, Lexington | $10 | Make brunch a little more fabulous with live, family-friendly drag performances.

Events calendar here

Click here to have your event featured.

Finance

How American Trust Wealth prioritizes building its clients’ financial success

A team photo of American Wealth Trust employees

American Wealth Trust’s brand-new office space (next door to their former space) makes it easy to meet with them in person. | Photo by Keni Parks

Aside from their CEFEX certification (independently certifying they act in the best interest of their clients), the team at American Trust Wealth recently completed major initiatives underscoring their commitment to the client experience.

“Our team of local experts is dedicated to serving our clients online and in-person,” said Kevin Avent, Managing Director, Wealth Management. “That’s why our new app, client portal, and brand-new office were key projects for us in recent months.”

Talk with the team at American Trust Wealth to learn more about how they prioritize client success.

Learn more

News Notes

Development

After an infamous building on Richmond Road auctions off salvageable parts, it could be demolished. The former Coba Cocina and Cowboy Brazilian Steakhouse location, known for its ornate architecture and floor-to-ceiling jellyfish tank, has sat vacant since 2018. Demolition is TBD. (Lexington Herald-Leader)

Number

$476.5 million. That’s how much UK spent on research during the 2022 fiscal year, according to a report from the National Center for Science and Engineering Statistics. This puts the school in the top 40 public universities in terms of research expenditures. (UKNOW)

Try This

We could all use some companionship this time of year, right? Wise Bird Cider + Lexington Pit Crew are hosting a Valentine’s Day-themed fundraiser on Saturday, Feb. 3, where you can pay for professional photos, meet adoptable dogs, and shop from local vendors.

Kids

The Explorium of Lexington has announced its summer camp lineup that runs from May 30-Aug. 9. Registration opens next Thursday, Feb. 1 for fun themed days like dragons + unicorns, Super Mario Adventures, coding creations, mystery museum, and more.

Watch

Did you catch “Jeopardy!” Monday? The Bluegrass State was prominently featured. During Final Jeopardy! the clue was, “The first vice president and the first president not born in one of the original 13 states were both born in this state.” The correct response: Kentucky. Umm... of course we knew that.

Active

If you find yourself hankering for a new yoga experience, look no further. Origin Hotel Lexington is now offering complimentary classes for guests (or $20 for non-guests), which begin today at 5:30 p.m.

Home

Perfect for a cleaner, healthier home: this extra-large maple cutting board, which is BPA and phthalate-free and conditioned with beeswax, flaxseed, and lemon oil.*

Announced

🎉 Celebrate good times

Lexington unveils 250th celebration logo

Mayor Linda Gorton and graphic artist Savannah Guthrie with her daughter Miriam during the unveiling of the 250th Anniversary logo. | Photo by Amy Wallot

After sorting through 22 submissions, Lexington has chosen its official logo to celebrate our 250th anniversary in 2025.

The year-long festivities will commemorate all things Lexington history and culture, including “highlighting our vibrant arts community,” said Mayor Linda Gorton. And that begins with the logo that will find itself on all promotional products — think: shirts, stickers, posters, and more.

The logo chosen was created by local graphic designer Savannah Guthrie, who wanted to focus on the adaptability of the design.

“With a city like Lexington, there were so many directions an artist could take with this project… historical events, equine imagery, rolling hill landscapes, city life, cultural significance,” said Guthrie. “But for me, my goal was to create a simple, bright, celebratory theme that encompasses it all.”

The Buy

The Buy 1.24.23 (Affiliate + Six & Main)

The best baking supplies to cook up something cozy and comforting this winter. Think: a sourdough starter helper, lemon lavender scones baking mix, and Herbes de Provence focaccia mix.

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The Wrap

Today’s edition by:
Aayat

From the editor

Can y’all believe it’s a whopping 58 degrees today? Excuse me while I go lay out by the pool. No, I don’t care that it’s a downpour.

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