How much house will $300K get you in Lexington now? Take a look inside 3 recent sales

Across the country, persistently high borrowing rates and a shortage of available homes has sharply curbed real estate sales, with transactions shrinking 23.2% in April compared to the same month last year, according to the Associated Press.

The trend is mirrored in home sales across the eastern and central parts of Kentucky. A recent analysis from Bluegrass Realtors found the total number of real estate listings dipped 27% in April compared to the same month in 2022. That translates to about 500 fewer homes available for sale.

Across Bluegrass Realtors’ 30-county region, the median home sale price has increased to $250,000, tying with the second-highest midpoint price mark of all time in the area. In April, that figure for Lexington was $300,000, according to data from real estate website Redfin.

“The market across the region needs a more robust supply of inventory to give buyers more options,” Kelley Nisbet, president of Bluegrass Realtors, said in the April analysis. “Fayette County only has about a dozen available properties under $200,000 which means first-time buyers face an uphill battle in their search. Until move-up buyers are provided with ample choices, housing transactions will remain at a standstill.”

In this edition of our series Price Point, we’re taking a look at what recently sold for $300,000 or less in Fayette County to give a snapshot of the local housing market. Here’s what we found.

Note: This graphic will automatically update as new data become available.

1137 Four Wynds Trail

Sold: $299,900 June 12

This property is a ranch house with three bedrooms, two bathrooms and a finished sunroom. It sits in the Meadow Creek neighborhood just off Tates Creek Road and about 1.5 miles from Man O’ War Boulevard.

There’s a Kroger only a 3-minute drive away, located in the same shopping outlet as Common Grounds Coffee and Freshie’s Ice and Soda Fountain.

With distinctive blue shutters and a red brick face, it is nestled in landscaping and on a fenced in lot. When you step through the door, there’s an entryway that opens into an expansive living room. There’s a small, wall-papered kitchen with white cabinets and a tiled back-splash above the stove.

The home also features two large guest bedrooms, one with a full guest bathroom and a master suite with a full bath and walk-in-closet. Other features include recently installed luxury vinyl plank flooring, replacement toilets and a roof and heating and cooling system that’s six years old. An additional bedroom or recreation area is accessible from the garage.

It has a 14-by-14-foot finished sunroom that offers a great view of the backyard and a patio of stacked stone.

Size: 1,746 square feet

Year built: 1996

Taxes: $2,174 in 2020, according to Zillow

268 Zandale Drive

Sold: $238,000 June 12

This home is a conveniently located ranch house with a three bedrooms and one bathroom. A big plus is likely its location, situated between Tates Creek and Nicholasville Road.

There’s a Planet Fitness on East Lowry Lane just a two-minute drive away. Good eats like Ramsey’s, Winchell’s and The Cellar are also only about a five-minute drive, not that you’d necessarily need a car. The area is relatively walkable and bikeable. It offers a comfortable suburban feel without being too far from shopping and dining.

The home itself is sunny with plenty of natural light. The interior is freshly painted with new carpet and kitchen cabinets. The water heater is also new.

Out back, there’s a fenced in yard and a covered patio that runs the width of the home. The total lot size is more than 10,000 square feet.

Size: 1,341 square feet

Year built: 1956

Taxes: $1,496 in 2020, according to Zillow

344 Preakness Drive

Sold: $272,000 June 15

This home is a beautiful two-story with four bedrooms and three bathrooms. It is in the North Point neighborhood and offers easy access to downtown Lexington. It’s only a seven-minute drive to West Loudon Avenue. The area is rapidly developing with new shopping and dining options, like North Lime Coffee and Donuts, Broomwagon and the Julietta Market within Greyline Station.

The home includes a two-car garage. There’s lots of room for family members and friends between the four bedrooms and three bathrooms. The home’s stylish white paint and black shutters and garage door tease its interior.

There’s a similar monochrome aesthetic indoors cut through with chocolate and caramel brown tile floors and carpeting to give it some warmth. The kitchen cabinets and appliances look sleek and modern. Black cabinetry is accented with gold handles. To top it off, there’s a large, fenced-in backyard with a few large trees.

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