The share of listings valued at over $1 million dollars continues to grow in Lexington-Fayette County, Kentucky. In 2024, 93 residential properties over $1M closed in Fayette County. Despite nationwide trends, most of these buyers opted for conventional loans to aid in their purchases.
As last year, 89% of million dollar plus sales closed for between $1 and $2M. The average price per square foot was $302.90, with a range from $131.49 in Hartland Estates to $638.05 in City Center.
This year, 14% were identified as “new” or “under construction,” a nearly 10% decrease from last year, likely due to still-elevated construction costs.
The oldest $1M+ property to close dated from 1812. A third of sales included properties fifty years or older, mirroring national averages. This reflects the Great Recession era drop-off in homebuilding and recent increases in construction costs, as well as the quality of older homes.
These top 3 zipcodes accounted for 77% of sales of $1M+
- 40502 (43%)
- 40509 (21%)
- 40515 (13%)
Neighborhoods with the most $1M+ sales included:
- Rural-residential (like these)
- The historic Ashland Park
- Chevy Chase
- Greenbrier & The Reserve at Greenbrier
- Hamburg’s Tuscany
Other neighborhoods with multiple sales included Ashford Oaks, Beaumont communities, Castlegate, Downtown, Hartland Estates, Lansdowne, Liberty Trail, & Shadeland.
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