Is Frankfort, 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, Frankfort has remained a Seller's Market.
Housing Prices in Frankfort, KY
How much do homes in Frankfort, KY cost?
Median Sold Price
$235,000
$154/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Frankfort was $235,000 in May 2024, up 2.5% from last year, and the median price per square foot was $154.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $107K | $156.2K | +46.0% |
2 Bedrooms | $152K | $156.3K | +2.9% |
3 Bedrooms | $228.6K | $236K | +3.2% |
4 Bedrooms | $269K | $283.5K | +5.4% |
5+ Bedrooms | $390K | $357K | -8.4% |
Summary: Frankfort housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 46%, 2 bedroom homes increased by 2.9%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes decreased by 8.4%.
Housing Supply in Frankfort, KY
How many homes are available in Frankfort, KY?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
177 | 164 | -7.3% |
Summary: The Frankfort real estate market had 164 homes for sale in May 2024, a 7.3% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 3 | -25.0% |
2 Bedrooms | 26 | 18 | -30.8% |
3 Bedrooms | 104 | 99 | -4.8% |
4 Bedrooms | 29 | 29 | 0.0% |
5+ Bedrooms | 14 | 15 | +7.1% |
Summary: The Frankfort housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes decreased by 30.8%, 3 bedroom homes decreased by 4.8%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 7.1%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
60 | 47 | -21.7% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Summary: A total of 47 homes were sold or pending in Frankfort in May 2024, down by 21.7% month-over-month. Of the 47 sold homes, 47% were sold under asking, 26% were sold at asking, and 28% were sold over asking.
Days on Market for Frankfort, KY
How long does it take to sell a home in Frankfort, KY?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
31 Days | 18 Days | -41.0% |
Summary: Homes in Frankfort had an average of 18 days on market in May 2024, down by 41% compared to last year.
Breakdown of Home Sale Times
35 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 47 homes were sold in Frankfort; 74% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.