Is Lexington-Fayette Northwest, KY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Lexington-Fayette Northwest has remained a Seller's Market.
Key Takeaway
Lexington-Fayette Northwest is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lexington-Fayette Northwest, KY
How much do homes in Lexington-Fayette Northwest, KY cost?
Median Sold Price
$290,000
$139/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lexington-Fayette Northwest have sold for 4.3% more than they did a year ago.
Summary: The median home sold price in Lexington-Fayette Northwest was $290,000 in May 2024, up 4.3% from last year, and the median price per square foot was $139.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $250K | $239K | -4.4% |
| 3 Bedrooms | $255.9K | $275K | +7.4% |
| 4 Bedrooms | $345K | $360K | +4.3% |
| 5+ Bedrooms | $447.4K | $400K | -10.6% |
Summary: Lexington-Fayette Northwest housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 4.4%, 3 bedroom homes increased by 7.4%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes decreased by 10.6%.
Median Sold Price Compared To Nearby Cities
| Lexington-Fayette Central | $287.7K | $310.3K | +7.9% |
| Lexington-Fayette Southwest | $327K | $350.2K | +7.1% |
| Lexington-Fayette | $295.4K | $314.9K | +6.6% |
| Lexington-Fayette Northeast | $336.3K | $354.9K | +5.5% |
| Lexington-Fayette Northwest | $278K | $290K | +4.3% |
Housing Supply in Lexington-Fayette Northwest, KY
How many homes are available in Lexington-Fayette Northwest, KY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 128 | 115 | -10.2% |
Summary: The Lexington-Fayette Northwest real estate market had 115 homes for sale in May 2024, a 10.2% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 4 | -42.9% |
| 3 Bedrooms | 71 | 59 | -16.9% |
| 4 Bedrooms | 42 | 44 | +4.8% |
| 5+ Bedrooms | 8 | 8 | 0.0% |
Summary: The Lexington-Fayette Northwest housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 42.9%, 3 bedroom homes decreased by 16.9%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 53 | 36 | -32.1% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
16 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lexington-Fayette Northwest, expect to pay close to the asking price. 44.4% of homes here sold near the asking price last month.
Summary: A total of 36 homes were sold or pending in Lexington-Fayette Northwest in May 2024, down by 32.1% month-over-month. Of the 36 sold homes, 31% were sold under asking, 44% were sold at asking, and 25% were sold over asking.
Days on Market for Lexington-Fayette Northwest, KY
How long does it take to sell a home in Lexington-Fayette Northwest, KY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 10 Days | 16 Days | +46.3% |
Summary: Homes in Lexington-Fayette Northwest had an average of 16 days on market in May 2024, up by 46.3% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lexington-Fayette Northwest are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 36 homes were sold in Lexington-Fayette Northwest; 83% of homes were sold within 30 days, 3% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of the Lexington-Bluegrass Association of Realtors Multiple Listing Service. Real estate listings held by IDX Brokerage firms other than this broker, are marked with the IDX logo or the IDX thumbnail logo and detailed information about them includes the name of the listing IDX Brokers. Information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Listing(s) information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. © 2024 LBAR Multiple Listing Service. All rights reserved.