Friday, April 5, 2013

Meade County Update

1.

While I was searching for topics for a new blog, I realized that I have not done a market update for Meade County in quite a while.  So for all y’all that live in and around the Brandenburg area, this one is for you.

Let me start by briefly explaining the demographics of Meade County before I get into the details.  Meade County is located in the central part of Kentucky along the Ohio River.  Approximately 30,000 folks call Meade County home, and is mostly rural.  The county seat is Brandenburg, and the largest subdivision is Doe Valley which is a gated golf course/lake community. 

For the past several years, property values have been unstable, but rising over the long term.  In 2009, the median sale price of all sales in the county was $139,900, and in 2012 we saw the median sale price top $144,000.  But 2010 and 2011 were different stories.  In 2010, we saw a large influx of families due to BRAC, and properties values responded by rising to $154,000.  Then in 2011 the pendulum swung the other way by the median sale price dropping to 2009 levels. 

Although I usually put more weight on the long term trend of a neighborhood, I have been watching what has been going on in the past four quarters in Meade County.  Recently there are several indicators that of themselves might not indicate a change, but combined with each other they requires attention.  I’ve noticed that housing supply has been increasing, median sale and listing price has been dropping, and list-to-sale price ratio has been declining.  So what does all this mean?

Based off the unstable nature of property values in recent years, this seems to be the ongoing trend for the county.  It sounds like two steps forward and one step back.  The only word of caution I’ll throw out there is: sequestration.  Due to the recent government cutbacks, and the history of the past year, this may be hitting at a bad time because of the large amount of families that work on Ft. Knox in the area.  Only time will tell if this will have a negative impact on property values.

I’ll leave you all on a good note.  During the recent depression, Meade County has remained stable when compared to counties with larger populations.  Except 2010, Meade County has steadily increased in value since 2009.  Not only that, but one of the largest factories in the county, formerly known as Arch Chemical, has been revived by new investors that are determined to update the plant and  increase its profitability.  Thanks for reading, and I hope this has helped in some way.  Feel free to visit our Facebook page and leave a comment, and don’t forget to hit like before you leave.