Have you heard of Union, KY real estate market trends? If you’re looking to move to the Cincinnati or Northern Kentucky area, and you want to move to a city that’s growing, that’s appreciating? Stick around cause I’ve got some exciting news for you. My name is Eric Sztanyo from Keller Williams Realty and team Sztanyo.com, where we are helping you find your home and strengthen your family. I’ve been talking about this city and this area for a while and almost all of you who reach out and say, “Hey, we’re looking to move to the area. We’re relocating, we’re coming from California or New York or Texas or wherever” Either moving from family or you got a job and you are like, we’re open to all areas in Cincinnati, whether that’s on the Ohio side or in the Northern Kentucky side, but we want great schools. We want somewhere that’s growing. And particularly if you want somewhere that’s been appreciating and will continue to appreciate. Now I can’t make any crystal ball guarantees or anything like that, but I’m gonna show you guys some exciting data about the real estate market trends.
What are the Union, KY Real Estate Market Trends and Find Out Why this is the Best Place For You To Live in
So many of you have kids. You wanna be in a great school district. And when you’re calling me, as someone who’s lived here for 30 years, who’s lived in both the Kentucky side and the Ohio side who has five kids of my own. You’re asking about great school districts. I often say a lot of the same places on the Ohio side. I might say Anderson township and Forest hill school district or Mason or the Lakota school district in Westchester or Blue Ash in Sycamore. On the Kentucky side, you’ll hear neighborhood such as Fort Thomas schools are great. Beachwood schools are great in the Fort Mitchell area.
But in terms of the public schools, Alexandria, the Campbell county schools are great. But another great one that I mentioned often and I’m gonna show you guys why I’m so excited about union.
This is from niche.com. You can go check out all the details for yourself, but Union is a suburb of Cincinnati with population of about 5,900. I think that’s actually a little bit behind actually it’s been growing. Union is in Boone county and is one of the best places to live in Kentucky. Living in union offers residents a rural feel and most residents own their homes in Union.
There are a lot of restaurants and parks. We’re gonna talk about that more later and what they’re building there. Many families and young professionals live in Union and residents tend to be conservative. The public schools and Union are highly rated, particularly on the high school side. Ryle high school and Cooper high school area little bit more highly rated than sadly to say at Boone county high school, my alum.
Now, before I get into what’s happening in Union Kentucky and the development that’s happening, I wanna show you guys some numbers. I wanna show you guys something that might get you pretty excited from a dollar standpoint for Union Kentucky. We’re gonna take a look at two charts. We’re gonna look at the median prices of home sold over the last two years in all of Northern Kentucky or at least in Boone, Kenton and Campbell county. So I took all of that data to look at the median sale price and the growth that’s happened in the last two years in this hot sellers market. And then we’re gonna compare that to Union Kentucky specifically, just that city.
On this chart of all of Northern Kentucky going from March of 2020 to March of 2022, what you see is the median sales price in March of 2020 was $203,200. And that jumped to $250,000 by March, 2022. So that’s the most, the recent data that we have in our broker metrics here. The percent change over those two years was a 23% growth.
And you guys are probably seeing this all across the country. For Cincinnati, Northern Kentucky. Those are big numbers. I mean, normally you’re probably looking anywhere from 2% to 6% appreciation in the last two years you’ve seen 11 and half on average in all of Northern Kentucky.
Now let’s look at the numbers for just Union Kentucky. It’s important to note here that the starting median price back in 2020 was $324,500 in Union Kentucky. So it is overall, the homes are a higher median price than all, you know, when I’m looking at all Boone, Kenton and Campbell.
But that growth from 2020 to 2022 was nearly double all of Northern Kentucky. It went from $324,500 to $469,000 as the median sale price in March, 2022. That’s a change of over $144,000 or 44 1/2%.
If you’re comparing the appreciation that happened in Boone, Ken and Campbell counties, all of the houses, condos, and town homes, everything residential in two years is around 23%. Just in union Kentucky, It was nearly 45%, almost double the amount of appreciation as the rest of Northern Kentucky. So if appreciation matters to you, if you’re wanting to get into a place that’s growing and that’s hot, definitely need to look at Union.
In the current real estate market trends the prices are a bit higher. I’m not gonna lie. You know, it can be pretty expensive to move into union, but that kind of appreciation growth is exciting. Now I want to take you to what is actually happening in terms of the growth and development in Union, which makes these previous numbers even more exciting.
So if you look over at the city of Union, kentucky.org, their website, we wanna look at this new development going in called the Union promenade. Now I’m just gonna read this from the site here, but you guys can dig in further yourself and check it out. We’ll put a link in the description.
“A major zoning map amendment was approved by the Union city commission on a special meeting held on November 3rd, 2021. The amendment involves a 61.8 acre site in the heart of Union between US 42 and old Union road. The project being proposed known as the Union promenade will offer a mixed use concept that includes office space, 50 single family, residential homes. Approximately 300 multi-family housing units and a approximately 13 individual outlet buildings, which will house both upscale, retail and restaurant experiences. The strategic and highly visible location will be a city focal point facing a well traveled state highway.
The building architecture and signage will meet the requirements as outlined in the 2000 Union town plan. Additionally, countless considerations have gone into the union promenade development concept plan to ensure that the highest level of quality expected by residents. The safe and ADA compliant design offers a walkable commercial district and will promote a live work play philosophy.
According to the 2020 census, the city of Union is now home to 7416 residents. So compared to niche.com, that’s 1500 more residents that have moved into Union. The Union promenade will help sustain community growth by providing new services and job opportunities to residents. Mayor Larry Solomon stated the city commission is dedicated to maintaining the small town appeal of Union while managing the city’s rapid growth. The Union promenade project will provide a welcome gathering space and heightened quality of life and services.”
Now who’s coming to the area? Letters of intent have been received from taste of Belgium, which is a kind of an upscale Belgium waffle restaurant that you find in OTR as well as downtown by the banks. Dewey’s pizza, which is one of my favorite pizza places in all the Cincinnati area. United dairy farmers which is a local gas station / ice cream shop. In fact, the owners of UDF were owners of the reds for a long period of time. The Villa Mocha coffee shop, stone Creek dining company, Goodwood brewery, who doesn’t like a nice hometown brewery? City Bird tender store a food and wine shop, Blaze cigar lounge, kid story children care center, Luxe lounge medical spa, a pet grooming salon and a beauty salon. Additionally, a potential hospital outpatient operation has expressed interest in 60,000 square feet of office space. The Union promenade is expected to have most commercial lots open in 2023.
Exciting stuff! A lot of growth is happening in Boone county and has been happening since CVG the Cincinnati airport, which is actually in Boone county, landed a big Amazon distribution deal a few years ago, and that’s still being implemented. The Amazon is pumping in $2 billion into that project. That growth is happening basically in all the areas around the airport. So you’re seeing bumps in Hebron and Burlington and Florence, but also Union Kentucky. With this large city project that’s going on this mix use space. That’s exciting from a commercial standpoint, a residential standpoint. There’s a lot of growth happening in Union, and it definitely should be on your list of strong contenders if you’re looking to move into the area as well as a lot of great new construction options.
Team Sztanyo! Your Trusted Guide in Buying Houses in Union, Kentucky and Understanding the Real Estate Market Trends
I hope that was helpful to you to kind of zoom out a little bit and look at some of the projects that are happening regionally. That might be important to you. If you’re looking to move to the Northern Kentucky area. Sztanyo clanyo. I hope this was helpful to you please like, and subscribe. We are the number one YouTube channel in the Cincinnati Northern Kentucky area, bringing you real estate content all over Northern Kentucky and Cincinnati comment below on what you wanna see next. Thank you so much!