One of the nation’s largest private home builders already headquartered in Kentucky is expanding into the Lexington area.
Fischer Homes’ first Lexington-area community is Monterra in Versailles, a $40 million development with 75 new houses across approximately 37 acres. Sales in Woodford County are anticipated to begin later this year.
“Expanding into the Lexington market marks an exciting milestone for Fischer Homes as we continue to grow our presence across Kentucky,” said Region President Jason Finch as part of the announcement. “Central Kentucky is a natural fit for our long-term growth strategy, and we look forward to building homes, creating communities, and becoming a trusted partner throughout the region.”
Versailles, only about 15 minutes outside downtown Lexington, is the home builder’s 10th market. The expansion, Finch said, reflects Fischer Homes’ confidence in the region’s strong economic foundation, household growth and long-term housing demand.
The Monterra subdivision is being constructed near the Huntertown Community Interpretive Park, Southside Elementary School and where Highway 60 and the Bluegrass Parkway intersect a few miles before the Kentucky Castle.
Like other single-family houses built by Fischer Homes, floor plans are flexible to each owner. Price ranges are not yet available for the Versailles community, but those it’s built in Louisville start around the mid-$300,000s.
According to Bluegrass Realtors, the median home sale price in Woodford County in June was $414,900, an increase of almost 20% compared to the same month last year.
Sales activity across the region received a boost due to an increase in inventory, pending transactions and new listings coming on the market during the start of the summer, according to data from the real estate trade association.
New construction sales in June hit the second-highest total since 2010 and the most new home sales in six years. With 159 sales, the June figure was 15% higher than last year and 18% higher than it was in May.
“Buyer activity picked up at the start of the summer,” said Bluegrass Realtors President Mike Inman in a release alongside the data. “Some of this is due to the increase in available homes that have been needed for quite some time in our region. The good news is we have seen an extended trend of inventory that has helped bring the market back into balance.”
Inventory levels continue to grow, giving the market more selection than there has been in several years. A total of 4,289 homes were available for sale in June, showing an 8% increase from the same time last year. Inventory reached its highest June total since 2019.
New listings hit the highest June total since 2022 with 1,952 homes entering the market compared to 1,916 homes during the same month last year.
“The increase in inventory and volume of properties coming on the market could be one factor helping to slow price appreciation,” Inman said. “Home prices are continuing to rise but not at the pace we were seeing for so long during and after the pandemic.”
For the first time on record, the media price of homes reached $300,000 in June, a 1% increase over the preceding year. Single-family home prices in June increased 1% to $303,000, from $300,000 last year, while townhouse and condo prices rose 12% to $292,000 from $260,000 in 2025.