If you are looking to invest in the Kentucky real estate market than Lexington, may be a place to consider. According to fall market reports for the 2007 Kentucky real estate market, this area is experiencing some job growth as a result, there are actually more buyers than sellers in this market. However, homes are sitting with an average of 90 to 120 days on the market.
The market is currently on an increasing trend in housing inventory indicates there is a good supply of homes in all price ranges. This means when you are looking to invest that there is a number of options to choose from when considering what is for sale. In addition, what you may be looking for in either a home or rental property. The average home price in the Kentucky real estate market for the Lexington area is a round $168,000.
This is actually up from last year at a rate between 0 and 5%. Sellers are currently getting 95 200% of their asking price. This means buyers have less room to negotiate when looking to purchase a home. However, there are no indications of multiple offers on any of the homes. This means that the greatest activity area of first-time buyers have the opportunity to purchase the home that they choose without having to worry about a large amount of competition or competitive offers. Currently the highest average selling price range for the Kentucky real estate market at Lexington area is homes under the $200,000 price range. If you are looking to invest in smaller homes or in lower-priced homes or if you are looking to do to fix it up and resell investing this may be a market to consider.
Overall, if you are looking to do real estate investing and you are looking to start out small and a market that is showing an increasing trend and still hold stability in the current economic situation. Then the Kentucky real estate market around Lexington is an area to consider, because the homes are in the lower price range. This may make it easier for first-time investors to gain the funding necessary to start their business. This is also an excellent area, because an increase in job growth for new buyers and smaller families.
Another thing to consider when looking into the Kentucky real estate market around Lexington is the fact that there are large portions of Kentucky, which are a rural. This gives individuals the opportunity to engage in a multitude of activities. These activities include things like hunting and fishing, writing scripts and horseback riding and other outdoor activities while still giving the benefit of living near a major city. As with any investment, there is a certain amount of risk, however in this area of the Kentucky real estate market. There is less risk of a loss of investment compared to other real estate markets within the United States however, it is essential that prior to making investments that adequate research is done on the potential of resale or rental in order to insure were the safety of the investment.
