Is Lexington-Fayette Central, 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 Central has remained a Seller's Market.
Housing Prices in Lexington-Fayette Central, KY
How much do homes in Lexington-Fayette Central, KY cost?
Median Sold Price
$310,388
$156/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lexington-Fayette Central was $310,388 in May 2024, up 7.9% from last year, and the median price per square foot was $156.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $153.6K | $175K | +13.9% |
2 Bedrooms | $212.5K | $235K | +10.6% |
3 Bedrooms | $280K | $294.9K | +5.3% |
4 Bedrooms | $393.7K | $415K | +5.4% |
5+ Bedrooms | $605K | $637.5K | +5.4% |
Summary: Lexington-Fayette Central housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.9%, 2 bedroom homes increased by 10.6%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes increased by 5.4%.
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 | $295.4K | $314.8K | +6.6% |
Lexington-Fayette | $295.4K | $314.9K | +6.6% |
Lexington-Fayette Northwest | $278K | $290K | +4.3% |
Housing Supply in Lexington-Fayette Central, KY
How many homes are available in Lexington-Fayette Central, KY?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
306 | 361 | +18.0% |
Summary: The Lexington-Fayette Central real estate market had 361 homes for sale in May 2024, a 18.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 11 | 14 | +27.3% |
2 Bedrooms | 53 | 68 | +28.3% |
3 Bedrooms | 141 | 162 | +14.9% |
4 Bedrooms | 78 | 84 | +7.7% |
5+ Bedrooms | 23 | 33 | +43.5% |
Summary: The Lexington-Fayette Central housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 27.3%, 2 bedroom homes increased by 28.3%, 3 bedroom homes increased by 14.9%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 43.5%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
80 | 121 | +51.2% |
Asking Price vs. Sold Price
57 Homes Were Sold
Under Asking
22 Homes Were Sold
At Asking
42 Homes Were Sold
Over Asking
Summary: A total of 121 homes were sold or pending in Lexington-Fayette Central in May 2024, up by 51.2% month-over-month. Of the 121 sold homes, 47% were sold under asking, 18% were sold at asking, and 35% were sold over asking.
Days on Market for Lexington-Fayette Central, KY
How long does it take to sell a home in Lexington-Fayette Central, KY?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
21 Days | 39 Days | +87.3% |
Summary: Homes in Lexington-Fayette Central had an average of 39 days on market in May 2024, up by 87.3% compared to last year.
Breakdown of Home Sale Times
94 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Summary: During May 2024, 121 homes were sold in Lexington-Fayette Central; 78% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.