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Luxury brand Christie’s International Real Estate has brought on a new affiliate in Lexington, Kentucky, the company has exclusively told Inman.
Led by married couple Rusty and Rachel Underwood, the new affiliate is known as Christie’s International Real Estate Bluegrass and will serve as the exclusive Central Kentucky affiliate for the Christie’s network.
The firm has about 50 agents and 11 staff members who have an average of 20 years of industry experience and collectively have produced nearly $300 million in annual sales volume.
“Our philosophy has always been that each of our clients deserves a luxury experience,” Christie’s International Real Estate Bluegrass Chief Operating Officer Rachel Underwood said in a statement. “And there is no better name in luxury brokerage than Christie’s International Real Estate. We know the brand is going to resonate with the people and culture of central Kentucky, and we’re thrilled to represent it in our hometown.”
Rusty and Rachel Underwood | Christie’s International Real Estate
Rusty and Rachel Underwood both come to Christie’s from Milestone Realty Consultants, a local firm with offices in Georgetown and Lexington, Kentucky. Over the years, the native Lexingtonians have made deep inroads in their community, partnering with the family that leads Ball Homes, one of the state’s largest homebuilders.
Rusty Underwood is immediate past president of the Bluegrass Realtors and is currently acting chair to the local multiple listing service, Imagine MLS. Additionally, he is a director with the National Association of Realtors and serves on the association’s finance committee.
Lexington is known as the “horse capital of the world,” with its rolling hills, horse farms and thoroughbred racetracks. The pocket of luxury is also well-known for its award-winning bourbon distilleries and the Bourbon Trail.
Home values in the Bluegrass region, which encompasses 38 counties across the central and northern parts of the state, have increased by about 40 percent since 2019, according to Rusty Underwood. The market is also unique because of its mix of urban and rural properties surrounded by farmlands and horse country.
“Lexington is a unique place in America with traditions, beauty and culture all its own — and homes and estates that are equally special,” Chris Lim, president of Christie’s International Real Estate, said in a statement. “We are very excited for Christie’s International Real Estate to build a strong presence in this market and to have dynamic leaders like the Underwoods and their team carrying the brand.”
The median sale price of a home in Lexington is currently $270,000, down 1.8 percent year over year, while the median price per square foot is $166, up 6.4 percent year over year, according to Redfin. The market is considered “very competitive,” according to Redfin, with many properties receiving multiple offers, some with waived contingencies.
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